What You Need to Open a Business Bank Account

Starting a new business is exciting, but let's face it—the paperwork can be a real pain. We're here to demystify one crucial step: setting up your business bank account. Before we built our product, we had to set up an account for our company. We spent hours sitting in a branch and went through an embarrassingly bad application process that included weird human errors.

The Information You Need to be Prepared

1. Your business email and phone number

2. Your business's legal name

3. Your business address

4. Your business structure: Whether you're flying solo as a sole proprietor or going big with a corporation.

5. Your Tax ID number could be your EIN (Employer Identification Number) or SSN if you're a sole proprietor.

6. Information about your beneficial owners: Individuals or companies that own a meaningful amount of the business for which you are opening a bank account.

What Makes Holdings Different

Now, here's where we at Holdings shine. We don't just tick boxes; we make the account opening process 15 minutes and smooth. It guides you through the verification, and we use tech to verify your identity and business details, often without you needing to lift a finger. We also explain everything in plain English.

Why All This Matters

You might be wondering why you must verify or apply for a bank account. Well, it's not just about ticking boxes. It's about:

1. Protecting you and your business: We keep the bad guys out to ensure everyone's safety on our platform.

2. Compliance: Because nobody wants to accidentally star in the next "Wolf of Wall Street"

3. Building trust: We verify your details so you can focus on what matters - growing your business.

The Holdings Difference

At Holdings, we don't just open accounts; we open doors to financial success. Our risk-based approach means we tailor our process to your unique business. Whether you're a tech startup or a local bakery, we've got you covered.