business bank account

[kharvest19]

Is business account all that necessary for my business when i have personal account
if yes
why??

 

[Venant]

I think a business bank account is separate from the normal conventional bank account we all know. Business bank accounts comes with lots of benefits like two signatories to the account, a higher chances of obtaining loans etc.

 

[WhiteHouse]

Yes it is.
When you’re in business, image matters. If you’re writing checks out of a personal account, that won’t help your image. It will make it appear as if you are only sort of in business, or even worse – that you just started the business a few weeks ago. That image doesn’t exactly convey strength, or build confidence with customers and clients.
A dedicated business account, on the other hand, says that you’re open for business.

 

[Yugocean]

This depends on your country policy and your banks, Normally banks do give loan for business and take interest, they do not pay interest for doing business,

 

[Odekayodejnr]

Business account is more adviceable because it easy to get loan through it

 

[Nurudeen]

Business account Is very important for your business most especially when you seek more investors to invest in your business. Business account gives them more confidence to pay into than ordinary savings account

 

[Yugocean]

I agree with you here that banks gives loans to get interest and not vice versa
Again its better to have business bank account even if you have a personal account because these are two different things

You mean to have an account which should be used as saving capital for business?

 

[Ehizzy1]

I think business account is still necessary for your business and am very sure you might need to receive large sum of money in your business as time goes on ,so you will need a business account

 

[Josemendez]

Is business account all that necessary for my business when i have personal account
if yes
why??

I think it is necessary as it can help you track your progress from the business alone. Mixing it with your personal account won't offer much details .

 

[Sincerem]

Yes, you need a business account to record all your business expenditures. Business money are meant to be kept in the business account not personal account, yo determine how much you have for your business, and also know how much you've made as gain too.

 

[tuna89]

It is very necessary since the cashless policy has started gaining enough grounds, it also enables accountability. More customers may prefer to transfer money to you than cash.

 

[Presido]

Business account as the name implies is meant for business while personal is meant for yourself. Don't get it twisted,ok