Help Centre

If I own a corporation, should I have a separate bank account?

If your business is a corporation or an LLC, it is highly suggested to separate personal and business accounts so there are no risks regarding the company’s liabilities and debts. This way, your members as well as yourself are protected. 

To separate your assets, consider opening a bank and credit card account under the company’s name that will be used solely for business expenses, and then move personal property that will be used by the company, such as a vehicle or real estate, out of your name and under the company’s name. 


Did you find it helpful? Yes No

Send feedback
Sorry we couldn't be helpful. Help us improve this article with your feedback.