Business Account

[Chris]

Is it worth it to open up a business bank account? Can't you just use your regular chequing and savings while you are running a business. What are the benefits of having a business account. Thank you for your help.

[aquariancore]

What I am doing now is building up through a personal account first to avoid fees. I can do this because the business name is my name.

[Michael]

Im currently using a personal account, i have one account for my business, one for my personal use. I pay myself a monthly salery coming out of the other account.

[eria]

I use one personal account for business transactions and one saving account to spend myself

[LyricB]

I use an account for my business income, but then I transfer it over to my personal account.

[mtatum4496]

Yes, you need a business account. It comes in very handy to have all that detail in one place and not mixed in with your personal stuff when tax time rolls around. Also, as your business grows and you need to get more savvy with invoicing software and keep up with business related payables as well as receivables, it is much less a hassle to have the business account in place.