How can I open a bank account on my own?
If you choose not to open a bank account through Gust Launch or are not eligible to apply for an account with Azlo, you can still open a business bank account.
Because of federal regulations, there are some common documents and pieces of information that most business bank accounts require at application:
- A copy of the company's stamped Certificate of Incorporation (sometimes referred to as Articles of Incorporation).
- The account holder's address, phone number, SSN, name, country of citizenship, and date of birth.
- A valid government-issued ID, such as a driver's license, passport, or passport card, for the account holder.
- The addresses, phone numbers, SSNs, names, countries of citizenship, and dates of birth for everyone holding more than 25% of the company's common stock.
- Documentation of the ownership stake for everyone holding more than 25% of the company's common stock.
- Basic information about the nature of the business.
Please note that any bank may have additional requirements or exemptions. For example, founders who hold citizenship in some foreign countries may have difficulty opening bank accounts in the United States. In addition, most banks will require that the account holder be 18 or older.
Last updated on January 20, 2020