Business Bank Accounts for Delaware Companies


Business bank accounts for delaware companiesOnce you form your new LLC or corporation, you’ll need to open a bank account in order to do business.

What do I need to open a business bank account?

Typically, when opening a bank account in the United States, the bank requires the company's approved Certificate of Incorporation/Formation, the company's Federal Tax ID Number (also known as the EIN) and lastly, for an individual from the company to appear at the bank in person. 

Although banks are regulated by the federal government, they are also regulated by state banking laws.

Different banks require different documentation, so be sure to contact the bank of your choice to ascertain its requirements for new business bank accounts. Other items that banks may ask for are:

  • Certificate of Authority: The Certificate of Authority, also known as a Foreign Qualification, is obtained through registering your business as a foreign entity in the state in which the company is operating and/or banking. Most banks require a valid Certificate of Authority (achieved through Foreign Qualification) in order to open an account for those companies that have been formed outside of that respective state.

Foreign Qualification is important because the bank account is the point to which revenue is channeled, and thus it is considered part of a company’s operations. Since every state has its own requirements for Foreign Qualification, we are happy to take care of this detail for you. Our specialists can assist you with the entire Foreign Qualification process. 

Please visit our Foreign Qualification informational page for more information.

  • A Certificate of Good Standing: A Certificate of Good Standing, also known as a Certificate of Existence, is a certificate provided by the Delaware Secretary of State’s office stating your company is current with all Delaware Franchise Taxes, filings and Registered Agent Fees.

Many banks require a Certificate of Good Standing when a company applies for a loan, a line of credit or wants to open a merchant account. A company may also be asked to present a Certificate of Good Standing before signing a large contract.

You can order a Certificate of Good Standing for your company online.

If I form a Delaware company, do I have to open a bank account in Delaware?

No. Delaware company owners often open a bank account wherever it is most convenient for them, generally the state in which they are doing business. It is common for Delaware companies to operate all over the world, and banks typically understand this reality.

This is where your Certificate of Authority becomes significant; it lets the bank know that even though the company was formed in Delaware, it is legally registered to operate in your home state as well.

If you have any other questions about business bank accounts, our experts will be happy to assist you. While we do not actually open bank accounts for our clients, we can assist in obtaining the documents the bank will request from your company.

Feel free to call us at 800-345-2677, email us or Skype us at delawareinc. 

More By Devin Scott

There are 14 comments left for Business Bank Accounts for Delaware Companies

Kiyoshi Hasegawa said: Wednesday, January 31, 2018

I setup my firm at Delaware, & want to start new business. I think I already have all the documents you mentioned above. Pls. advice me to open bank account without going there in person. Thank you

HBS Staff replied: Monday, February 5, 2018

You can find that information in this blog:

Pooja Gupta said: Monday, November 20, 2017

We need to open bank account in US. Need to understand the process. Please contact me.

HBS Staff replied: Monday, November 20, 2017

You may find this page on our site helpful:

Opening a bank account from afar can be tricky; feel free to call us for further information, although we cannot open the account for you. 1-800-345-2677.

NA said: Sunday, November 5, 2017

Can you register an LLC in 1 day? If not long it can take? What is your fee for registering? How I can hire an US person as a manager? With this certificate of authority can I open a bank account in India? I don't want to provide my name public.

HBS Staff replied: Monday, November 6, 2017

Here are links to answer your questions. Please feel free to call us at 1-800-345-2677 if you have additional questions or would like to start the incorporation process.



Esad K. said: Sunday, August 6, 2017

Is ITIN number required by the bank for DE LLC company bank account opening?

HBS Staff replied: Tuesday, August 8, 2017

Usually the US banks need someone to show up in person, with the approved formation documents and the Federal Tax ID number for the company. Once you've decided on a bank, it's generally a good idea to call ahead to see what is required to open the account, since requirements differ from bank to bank.

If the ITIN is required, here is an article on the ITIN and how to obtain an ITIN.

George Henry said: Tuesday, July 18, 2017

Is one required to give their personal SSN when opening a Business bank Account?

HBS Staff replied: Thursday, July 20, 2017

Every bank is different so that is a difficult question for us to answer. Check with your specific bank.

1 | 2 | 3

Leave a Comment
* Required
* Required, will not be published