What is the process for opening a bank account?
Before you can open a bank account, your startup must have already incorporated, completed the post-incorporation setup, and obtained an EIN. You can learn more about how long these steps take in How long does it take to form a company on Clerky?.
When you're ready to get started, click on Teams in the main navigation menu, then click on your company's team. In the team sub-navigation menu, click on Partners and then click on Banking.
Our software will pre-fill information you've already entered and walk you through completing the rest of the information needed to begin the process of opening your company's bank account. As part of the process, you will need to specify who the signers on your startup's bank account will be. Signers are the individuals who can sign checks and withdraw or deposit funds into the bank account.
How long it takes to complete the account opening process depends on the partner bank, and on your specific circumstances. It could be as fast as a couple hours, but it could also take a few business days. When the partner bank opens the account, it will automatically upload your bank account's wire instructions to Clerky, so that you will be able to auto-fill them when you use our Fundraising products.