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Best Business Bank Accounts In 2022: Top Banks On The Market For You

Best Business Bank Accounts In 2022: Top Banks On The Market For You
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Do I need a business bank account?

Whether you are operating as a sole trader or a limited company, running a business isn’t easy. There are so many different things to think about, especially when it comes to the legalities and finances that come with running your own business. One of the most common questions that business owners ask is “Do I need a business bank account?” In this article, we will explain the pros and cons of having a business bank account and explore the legal requirements when it comes to how you manage your business’ finances.
Can you use your personal account for your business? Whether or not you can legally use your personal bank account for your business will depend on the structure of your business. Whilst there is no legal requirement for a business operating as a sole trader to have a separate business account, it is highly recommended to do so. You’ll also need to check whether using a personal account for your business complies with your bank’s terms and conditions. If ....

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