If you’re a well-established company or a new startup the need for a business account is vital. A separate account lets you to make payments using funds that aren’t linked to your personal credit and it also helps establish business credit, which could make you eligible for loans. In addition, business accounts usually include features to help you manage your business more efficiently like mobile banking and business-specific credit cards.
Simplify Record-Keeping
A dedicated business account lets you clearly separate your personal finances from the business’s making it easier for you to keep track and deduct expenses. It also helps you avoid errors in financial reporting and minimizes the chance of audits.
Look Professional
The use of a business account with the name of your business instead of your own can distinguish you as someone who is serious about their business. It can also give confidence to potential investors, partners and clients that you are organized and reliable.
Open a Business Bank Account
Different banks offer different business accounts, based on the type of account you require depending on how your business is structured. You’ll generally need the following information and documents to open a corporate bank account:
Set up a safe virtual information space
