How to Open a Bank Account With a DBA | Legal Beagle

How to Open a Bank Account With a DBA

Written By
C
Contributor
Jun 4, 2008
1 minute read

Small businesses and individuals often open bank accounts with a different name or for tax purposes. This is called a DBA ("doing business as"). They then make transactions out of that account to establish a paper trail and also to separate it from their personal accounts. When a business decides to open a bank account with a DBA, it is usually never changed.

Apply for proper business licensing with the license bureau of the state that the business resides or will reside in. You will need proof of licensure before you open a bank account with a DBA designation.

Determine what bank you want to open the bank account with. Many banks usually honor requirements to open a bank account with DBA, but it's advised to check first to confirm.

Read More: The Advantages of a DBA

Decide which name you will use as your DBA name for the bank. This will generally be something that is similar to the original business' name or close in nature.

Give these items to the bank to open the DBA account: driver's license, business license and proof of Social Security number or an employer's identification number card.

Endorse all checks that go into the business account with your DBA name that is linked to the account.

Notify any other interested parties or financial institutes of your business' DBA status so that they may update their records.

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