Having a business bank account provides your new business with credibility (with both customers and potential creditors) which is especially important when you’re starting a business. If some of your customers use cheques to pay your invoices it is much more professional in appearance to have them writing cheques to “Freezoner LLC” rather than to “Adam Alexander”, as does paying your business invoices with separate business cheques or a separate business credit card.
If you want customers to be able to write cheques to your business name you need a business bank account.
Separate the personal from your business
An organized business is a successful one, and having a dedicated business bank account makes it easier to organize your affairs quickly and efficiently. You should be able to easily track what money is coming in and going out, as well as ensure the numbers in your bank account match those in your own records. This can be much more difficult if your personal account and business account are one and the same.
Limiting legal liability
Liability issues are a very real concern whether you own a business or not. However, if your personal and business finances are co-mingled, you run the risk of leaving yourself personally liable. This means your personal finances could be in danger of taking a major hit should a liability issue arise.