Opening a Business Bank Account: What You Need
Every new business needs a dedicated bank account before the first transaction. Here's what you'll need.
Documents to bring
Federal EIN confirmation letter (from IRS).
Articles of Organization / Articles of Incorporation (from Montana SOS).
Operating agreement (LLC) or corporate bylaws (corp).
Personal ID for each account signer.
Beneficial ownership information — banks are now required to collect this (name, address, DOB, SSN for anyone owning 25%+ or with significant control).
Picking a bank in Montana
Local: Stockman Bank, First Interstate, Yellowstone Bank, Rocky Mountain Credit Union. Better relationships, easier for loans.
Regional/national: US Bank, Wells Fargo, Chase. Bigger digital tools, ATM network.
Online-only: Mercury, Bluevine, Relay. Great tech, no cash deposits, best for digital-only businesses.
Solo/very small: usually a local bank plus a decent app. Free checking on modest balances.
What to ask about
Monthly fees and how to waive them (usually minimum balance or minimum transactions).
Transaction limits and per-transaction fees.
Cash deposit fees (matter for retail/restaurants).
Wire transfer costs (matter for construction, ranching, real estate).
Integration with QuickBooks or Xero.
Ease of adding secondary signers.
Set up right the first time
Never deposit personal money into the business account without recording it as an owner contribution.
Never spend business money on personal expenses. Do a scheduled owner draw instead.
Set up a separate account for tax savings — parking 25–30% of profit for quarterly estimates is a discipline that saves lives.
Connect the account to QuickBooks/Xero on day one so you never have to backfill history.
A quick disclaimer
This article is general information for Montana small business owners, not tax, legal, or accounting advice for your specific situation. Rules change, and how they apply depends on facts we don't know about you. Before acting on anything you read here, talk to a qualified professional. If you're a Montana business owner and want a real conversation about your books, payroll, or tax, that's what Marlow Accounting is here for — call 406-290-1214 or schedule a discovery call.