Do You Need a Business Bank Account for Your LLC?

Get started with a business bank account today with Novo here:
https://startupwise.com/novo/
^ Open up a free business checking account!

Open a Mercury business account and streamline your finances here:
https://startupwise.com/mercury/

In this video, I go over if you really need a business bank account for your LLC. A lot of people wonder about this and aren’t sure if it’s required. While you’re not legally forced to open one, I explain why having a separate account for your business is a good idea. Mixing personal and business finances can get messy and put your LLC’s protection at risk, so it’s smart to separate them.

Our favorite tools for LLCs:
💼 Northwest Registered Agent ($39 LLC formation service):
https://startupwise.com/northwestLLC/
🎨 Tailor Brands (Save 35% on all LLC plans):
https://startupwise.com/tailorbrandsllcdiscount/
🚀 ZenBusiness (Launch your business for $0 plus state fees):
https://startupwise.com/zenbusinessLLC/
⚡️ Swyft Filings (Form an LLC in minutes for $0 + state fees):
https://startupwise.com/swyftllc/
📑 Bizee (Start an LLC for free & get a registered agent free for the first year):
http://startupwise.com/bizee/
🏦 Novo (Open up a free business checking account):
https://startupwise.com/novo/
💰 Bluevine (Business bank account with 4.25% APY):
https://startupwise.com/bluevine/
📜 Legal Zoom DBA (Best DBA service):
https://startupwise.com/legalzoomdba/
📈 RCReports (Get a reasonable compensation report if you’re paying yourself):
https://startupwise.com/rcreports/
🔖 Trademark Engine (Protect your brand by registering a name, slogan, or logo):
https://startupwise.com/trademarkengine/
💸 Big Think Capital (Get funding for your small business):
https://startupwise.com/bigthinkcapital/

Be sure to watch this video until the end because I’ll explain why a business bank account is so important. I cover how it can help protect your personal assets, make bookkeeping easier, and even save you from tax headaches. Plus, I share my top picks—Novo and Mercury—that offer no-fee accounts, making them perfect for small business owners like you.

A business bank account helps you keep personal and business transactions separate, which is important for your finances and tax purposes. With Novo and Mercury, you get fee-free accounts with no minimum balance and easy-to-use tools. These accounts also help you build business credit and offer access to business loans. Setting up an account can save you time and stress as your business grows.

For more information on LLCs and business formation, check out our other videos:

Sole Proprietorship vs LLC vs S Corp: Which Is The Best & Cheapest to Start?:
https://youtu.be/HU58uCr8sAo

LLC S Corporation Election: Complete Step-by-Step Guide:
https://youtu.be/XIL4EApD_W4

If you found this video helpful, please SHARE it with a friend that could benefit, and also LIKE and subscribe for more videos like this!

Thanks for watching, and I hope you have a wonderful rest of your day!

– Sam

#LLC #Mercury #Novo

Timeline:
0:00 - Introduction
1:27 - Different Reasons
1:44 - Limited Liability Protection
2:48 - Bookkeeping
3:57 - Business Checking Account with Your Business Name
4:38 - Difference Between a Personal and a Business Bank Account
5:12 - Conclusion

Disclaimer: Some of the links above may be affiliate links, which means that if you click on them, I may receive a small commission. The commission is paid by the retailers at no cost to you, and this helps to support our channel and keep our videos free. Thank you! All information from our videos is compiled from online sources and our own experience, and we encourage you to do your own due diligence. We appreciate your viewership!

In addition, we are not financial advisors. LLC Deals does not provide tax, legal, or accounting advice. The ideas presented in this video are for entertainment purposes only. Please do your due diligence before making any financial decisions.

Видео Do You Need a Business Bank Account for Your LLC? канала LLC Deals