Insight
How to Open a Small Business Bank Account
Whether you’re searching for the best checking account for your LLC or a savings account that fits your startup, you have lots of options.
New Business Bank Account
Your new business success begins right here, right now.
Starting a business is hard enough — your banking shouldn't be. Axos makes business banking simple with tools tailored just for new business owners like you. Managing your money has never been easier or more stress-free.
Here’s why you should choose an Axos business bank account.
Your business banking choice should relieve stress. These four features can make a new business account with Axos a no-brainer.
Low costs
Save money. Enjoy no monthly maintenance fees and no domestic ATM charges.
100% online
Anytime, anywhere. Handle all your transactions in our all-in-one mobile app.
Move money faster
Skip the banking stress. Move money and make transactions effortlessly.
24/7 customer service
With exceptional support, our team can ensure your business needs are always met.
$200† Welcome Bonus Offer
Every dollar counts when you're starting out. That's why new businesses can earn up to $200 opening a new Basic Business Checking account today.
Here’s how it works:
Open a Basic Business Checking account using promo code START200 by September 30, 2025.
Maintain an average daily balance of $3,000 over your account’s first few months. You’ll earn up to $50 cashback per calendar month, up to $200 total.
No strings. Just rewards.
Award-Winning Business Banking
Your new business demands a trustworthy partner. With 25 years in business and over 20,000 small businesses served, we’re proud to be one of the most reliable and innovative banks for entrepreneurs like you.
Choose a one-stop solution to manage and grow your new business.
Axos won’t just be home to your business banking — we can be your all-in-one partner for financial success. Explore complementary tools and products tailored for your business needs, including:
Basic Business Checking
No monthly fees, unlimited transactions = more money for your business.
Business Interest Checking
Earn up to 1.01% APY* while managing your day-to-day business funds.
Business Premium Savings
Save smart with 4.01% APY* as you grow your cash reserve.
Merchant Services
Simplify your payments and increase your business cash flow.
Payroll Services
Manage your team with ease, from one employee up to dozens.
See what customers say about Axos small business banking.
For me, it's really important to have reliable digital tools and apps like the one we use at Axos for our business checking. Being able to access that anytime, anywhere. I know that I am going to be able to log in, see my finances, and get on with my day.
Jacqui P.|Owner, Fringe Fabrics
Open your business bank account in 3 easy steps.
Getting started is quick and easy. Follow these simple steps to open your account today and start your business banking on the right foot.
- 1Choose Your Account
Pick the accounts that work for your business.
- 2Gather Your Documents
Apply in minutes to verify your business.
- 3Get Approved
Start taking advantage of your new account.
These 3 reasons are why your new business needs its own bank account.
One of the most important decisions you can make as a small business owner is to open a separate business banking account.
Keep Business and Personal Finances in Separate Accounts
Separation offers clarity and a more professional approach.
Simplify Tax Preparation
Have a record of all your business income and expenses in one place.
Protect Yourself Legally
Business accounts owned by a legal entity safeguard personal liability.
Learn More
Insight
Why You Need a Business Bank Account as a Sole Proprietor
Adding separate bank accounts for your business can provide you with higher levels of asset protection and tax incentives.
Insight
Why You Should Have Multiple Small Business Bank Accounts
Depending on your financial goals as a business owner, opening more than one account can help you stay on top of your business’s finances.
Have questions? Let’s talk.
Small Business Questions
What is required to open a business account?
Please view our comprehensive Business Banking Account Documentation Checklist for more information on the specific documents you'll need to open each business account type.
Do I need an Employer Identification Number (EIN) for a business bank account?
If your business has an EIN, you'll need it to open your account. However, if your business is a sole proprietorship or a single owner LLC, you can use your Social Security Number (SSN) instead.
Does an LLC need a bank account?
Having a separate bank account for your LLC isn't just a good idea — it's often essential. It protects your personal assets, keeps your finances organized, and positions your business as a professional and credible entity. Most importantly, it allows you to fully reap the advantages of your LLC's legal status.
How soon can I start using my business account after it’s opened?
Immediately. Once your account is open, you can start using it right away.
How do I pay myself from my LLC?
How you pay yourself will depend on how your LLC is structured and how it is taxed. If your LLC uses its default taxation as a sole proprietorship or partnership, you might pay yourself using an owner’s draw, which is a withdrawal of the profits (or equity) of the business. However, if your LLC elects to be taxed as an S Corporation or C Corporation, you must pay yourself a W-2 salary. Or if you’re part of a multi-member LLC taxed as a partnership, members may receive guaranteed payments, featuring a set amount agreed upon in the operating agreement.