The Money Blog

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Do I need business bank account for my practice?

askkate profitwithoutpills Sep 03, 2022

Make sure you have a business bank account for your practice…. I explain why you need this and how to go about it.

Why Your Business Bank Account Needs To Be Separate From Your Personal Bank Account

  • Your business is not you
  • Your business is a separate entity from you as a person
  • Your business assets are separate from your personal assets
  • Depending on your business structure it maybe a legal requirement
  • Keeps things clear for accounting and tax
  • Can take card payments from clients
  • It is professional

How To Set Up A Business Bank Account

Start with the bank you do your personal banking with

  • Do they offer business banking?
  • Is there a free initial period?
  • Do the terms work for you?
  • How long will it take to set up?
  • Ask friends for recommendations

Make sure you have a business bank account…. i explain why you need this and how to go about it.


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