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Should I Open a Business Bank Account for My New Business?

May 10, 2010

By Susan Ward, Guide

Opening a business bank account is one of the first things you should do when starting a business.

A business bank account is crucial for keeping your business and personal expenses and income separate and getting your new business’s recordkeeping off to a good start.

And having a business bank account provides your new business with credibility (with both customers and potential creditors), which is especially important when you’re starting a business.

However, don’t just run out and open a business bank account anywhere. Take the time to shop around, because there is quite a variance in the fees attached to business accounts – and the first thing you’ll discover about business bank accounts is that they always cost more than personal bank accounts!

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