Why is a Business Bank Account Required?
Opening a business bank account for your Florida LLC is critical for financial management:
- Separate personal and business finances
- Maintain LLC's legal protection
- Create a professional image
- Facilitate tax records
- Build credit history
Required Documents
- Articles of Organization — approved formation document
- EIN Number — federal tax identification number from IRS
- Operating Agreement — management structure document
- Government-issued ID — passport or driver's license
Best Business Bank Options
Traditional Banks
- Chase Business Banking — wide branch network, monthly fee: $15
- Bank of America Business Advantage — comprehensive services, monthly fee: $16
- Wells Fargo Business Choice — free transactions, monthly fee: $10
Digital Banks (Fintech)
- Relay — completely free, no minimum balance
- Mercury — startup friendly, $0/month
- Novo — for small businesses, free transactions
Special Cases for Foreign Entrepreneurs
For non-US citizens, some banks accept ITIN Number Guide">ITIN. Digital banks are generally more flexible for international applicants. Physical branch visit may be required for traditional banks.