How to Open a Business Bank Account

What to consider when choosing a business account and what to ask the bank before starting the application process.

A separate account for the company’s business activities can help organize incoming and outgoing payments and other company transactions. Account opening and terms depend on the bank and its assessment of each application.

Before choosing

Compare the services, customer support channels, account features, fees, and terms the bank communicates for your situation. Do not assume that an account will be approved or that it will have specific terms.

Documents the bank may request

The bank will specify which documents apply. It may request information identifying the company, details about its incorporation, identification of the people acting on its behalf, and information about its beneficial ownership or business activity. Confirm the exact list and required formats directly with the bank.

Steps

• Check the bank’s current offers and terms on its website or with a bank representative.
• Explain the company’s business activity, who will represent it, and what account services you need.
• Ask the bank for its up-to-date list of required documents and verification methods.
• Review the contractual terms before accepting, and wait for confirmation that the account has been opened.

Banco Sabadell

You can consult the information about Banco Sabadell business accounts. MDH Emprende provides informational access to this page; the decision, account opening, and terms are exclusively the bank’s responsibility.