Whether you’re an established company or a startup one, a business bank account is crucial. The use of a separate account permits you to make payments using funds that aren’t linked to your personal credit and it also helps establish business credit, which can allow you to be qualified for loans. Business accounts usually come with features that will aid you in running your business more efficiently, such as mobile banking and business-specific cards.

Simplify Record-Keeping

A business account that is dedicated to your business provides a clear separation between personal and business financials which makes it much easier to keep track of your expenses for tax write-offs. It can also help you avoid mistakes in financial reporting and reduces the chance of being audited.

Look Professional

The use of a business account with the name of your business instead of your own can distinguish you as someone who takes their business seriously. It can also demonstrate to potential clients, investors, and partners that you’re reliable and well-organized.

Create a Business Bank Account

Different banks offer different business accounts, based on the type of other account you need depending on how your business is structured. You’ll generally need to provide the following documents and information to open a bank for business account: