DECEMBER - FEBRUARY8You've officially opened, started or purchased a new business. Congrats, and welcome to the world of being a business owner! At this point, it may seem easier to continue using your personal banking account for your business because it's one less thing to worry about on your long list. However, having a separate business banking account provides a foundation for more financial stability and assists in keeping your key business tasks in order. Most importantly, a business banking account provides perks that a personal account does not. Why open a business checking account?· Your customers can conveniently pay you with credit cards, debit cards or checks (or even P2P payments, such as Square® and Zelle®).· Business accounts offer personal liability protection (albeit limited) by keeping your business and personal funds separate.· You can set up employee access to perform banking duties with online banking.· Most accounts can be complemented with lines of credit to help you with business purchases, cash management services and other additional options.Now that we have your attention on why a separate business account is beneficial, let's get you pointed in the right direction. A good place to start is the financial institution where you already have a banking relationship. Your current bank will be able to help you set up an appointment with your relationship banker to identify which documents you need to open a business account, as well as assist you in choosing the best account for your unique needs. At Gate City Bank, we feature various business options aimed at getting you By Chris Lee, Executive Vice President, Chief Financial Officer, Gate City BankBETTER BENEFITS OFBUSINESS BANKINGChris LeeMY OPINIONIN
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