Why You Should Open a Business Account at the Same Bank As Your Personal Account
If you own a small business, it may be beneficial to open a business account at the same bank as your personal account. However, you will want to consider your own financial needs and whether the bank will best suit your needs. Most business accounts will require monthly maintenance fees of fifteen to thirty dollars, but some banks waive the fee if you meet specific criteria. To find the best business account for your needs, explore your options and compare the costs.
A business checking account may have a few restrictions. Many banks restrict the amount of cash you can deposit fee-free each billing cycle. If you frequently deal in cash, you will want to choose a business account with a higher cash deposit limit. You may also be limited to a certain number of transactions per billing cycle. Typically, this limit applies to ATM or teller deposits, but may include checks and electronic debits as well. These limitations can make it difficult to manage the cash deposits you make and receive on a daily basis.
Once you have your business account, you should connect it to your Facebook Page to give it access to additional contact information. A business account will give you insights about how people engage with your posts, and also allow you to access the Instagram Professional Dashboard, which offers curated educational content. Using this platform to promote your business is a smart move if you want to boost your engagement and gain followers. You should also check out Instagram 101 for more information.
Business accounts are similar to personal accounts. While they have similar features, business accounts have more requirements. Usually, applicants are required to submit additional paperwork, including proof of business registration and an employer identification number. Moreover, a business checking account lists the name of the business in addition to the owner’s name. When a business owner makes payments on a business account, the bank will charge the amount to the business account, not their own.
Apart from the security of your personal funds, a business checking account is also important. By opening a separate account for your business, you protect your assets and your limited liability. Creditors will be less likely to go after your assets if they have a business account instead of a personal one. Opening a separate account also makes it easier to track expenses, monitor expenditures, and generate reports and statements that reflect the true status of the business.
WhatsApp business accounts also allow you to broadcast content, but there is a big difference between the two methods. While the app is better for automated messaging, the business version allows you to broadcast content to a list of 256 people. The message you broadcast will be sent only to contacts who have added your number to their address book. It’s important to note that your messages on WhatsApp are not spammy. You should not broadcast messages unless you have permission to do so.