Business Checking Account
A bank account used specifically for business transactions, separate from an owner's personal banking, used to receive revenue and pay expenses.
Keeping business and personal finances in separate accounts is standard practice, and for entities like an LLC or corporation, it’s often necessary to preserve the liability protection that structure is meant to provide.
A business checking account’s activity, particularly its average daily balance and deposit patterns, is also one of the primary documents lenders review during bank statement underwriting.
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