Thursday, December 7, 2023

Do I Need a DBA to Open a Business Checking Account?

A business checking account requires the legal name of the company that owns it. To open one, you should provide the bank with a legal photo ID such as a driver’s license, state identification, or federal passport. You should also present any business-related documents, such as a DBA certificate, which proves that you have legal authority to disburse funds.

You should research which banks accept DBAs and decide which one is most convenient for your business. Check to see if you can complete the application online or need to visit the bank. While some banks have online applications, some require an in-person visit to set up an account. Be aware that some banks may restrict the use of funds to personal use, which is why you should be sure to keep your articles of incorporation on hand when opening a business checking account.

You can also visit a branch of your bank and open a business checking account. During your visit, you will need to provide the required documents and speak with a qualified banker. You can check the requirements for opening a business checking account before visiting the bank to ensure you have everything you need. Opening a business checking account is a great way to separate your personal finances from your business.

Having a DBA allows you to collect money from customers and cash checks that are made in the name of your business. Many banks will require that you have a DBA before you can open a business checking account. Be sure to bring important documents to the bank so that you can complete the application quickly. This way, you can begin collecting money for your business. It is not difficult to set up a DBA checking account.

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