Benefits of a Business Checking Account
Protect Your Assets
Expressly separates your personal assets and affairs from the actions and liabilities of your LLC.
Categorizes business purchases and finances to avoid potential tax problems with the IRS.
Present yourself professionally and build trust with suppliers, vendors, and customers.
What is a business bank account and why do I need one?
One of the first tasks you should take after forming a business is to open a business bank account. This separates your personal and business banking and limits your personal liability. It also helps your business organize its taxes, simplify its accounting, and establish credibility with your customers and suppliers.
ZenBusiness has partnered with LendingClub to provide our customers with access to a discounted banking service created specifically for small businesses and startups on the move. This bank account will ensure your money is working as hard as you do with unlimited and free transactions, online and mobile banking, a free debit card, and much more.
Additional Benefits of a Business Bank Account
Simplifies your accounting
A separate bank account allows you to easily automate the bookkeeping of your business by importing all transactions into accounting software systems like Xero and Quicken.
Allows you to receive payments
A business bank account is required for you to accept credit card or debit card payments from your customers.
Positions your business for growth
As you scale it becomes difficult for you to handle every aspect of the business. Having a bank account will allow you to delegate bank-related tasks like bookkeeping, payroll, and payments to other employees or consultants.