- June 17, 2021
- Posted by: Stratford Team
- Category: Business
As a small business owner, it’s important to keep your business and personal banking separate so you can monitor the profitability of your business and avoid mixing transactions. With a business bank account, you can help protect yourself and your business. Before opening one, be sure you understand what you need in order to start making deposits and getting the most from your account.
In this article, you’ll learn what you need in order to open a business bank account and why having one is crucial for your business.
How do you open a business bank account?
Opening a business checking or savings account can be simple and straightforward when you know what information you need to get started.
1. EIN number
The first thing you’ll need is an employer identification number — also called an EIN, FEIN or tax identification number. The IRS issues and manages your EIN. If you haven’t filed for a tax ID number, you may still be able to open a…
