Opening a business bank account
Course description
Having a dedicated bank account for your business makes it much easier to manage your revenue and expenses. In this lesson, you’ll learn why it’s important to keep personal and business finances separate, even as a sole proprietor.
KEY TAKEAWAYS
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You need an EIN and proof of registration with the state to open a bank account, and some banks may ask for additional documents.
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There are different types of banks and you want to choose one that is business-friendly.
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A larger institution will often provide more loan and financing options than a small credit union.