What are the requirements to open a business account?

To open a business account with Sovereign Bank, there are specific requirements. Firstly, you need to provide your company's legal documentation, such as a valid Employer Identification Number (EIN) or Social Security Number (SSN) if you are a sole proprietor. Additionally, a completed application form, available on our website, must be submitted along with valid identification documents for all authorized signers. These individual signers must also have a physical presence at one of our branch locations to verify their identity. Moreover, supporting documents like business licenses, permits, or certificates may be required depending on your business type. Eligible businesses are typically required to be registered under state law. Meeting all these requirements will ensure a smooth process and get your business account up and running at Sovereign Bank.