Amazon FBA Open Business Bank Account Today | FBA Fridays | Episode 5

Are you interested in a bank account for your business, but don't know how to setup one up? Watch this video to find out how you can open a business bank account today!

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Thank you for taking the time to watch the video I hope I was able to bring you some value!

A business bank account is essential for all businesses to formally keep track and separate money from personal accounts. This is especially important for single owner businesses as there is higher risk of intermingling money between personal and business.

Now a very important thing you need to do prior to setting up a business bank account is to have an EIN. You may have gotten this included when you setup your LLC or business entity, in which case proceed. But if you do not have an EIN, you will need to go to IRS.gov and fill out Form SS-4. This can be done free online or by filling out the form and mailing it. Either way you do not need to pay for someone to do this.

Once you have your EIN, there a few factors that come into play when deciding which bank to use for your business. Monthly maintenance fees, transaction fees, minimum balances, foreign transaction fees, and hours of operations are just some of the things that you will have to consider before deciding on using banks like Bank of America, Chase Bank, BMO Harris Bank, US Bank, or other banks.

Once you do decide on a bank, call them up and schedule an appointment. Scan in your identification paperwork to them before your appointment so they can have the documents prepped and ready to go.

For identification verification, I needed to have a photo id (driver's license), proof of address (latest electric utility bill), Articles of Organization for my company, and the EIN document for my company. They also asked for my SSN which you might have to as well.

Once all the paperwork is signed and you deposited your money you just became the owner of a business bank account!

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Видео Amazon FBA Open Business Bank Account Today | FBA Fridays | Episode 5 канала From Falked To Freedom