Can I open a separate personal bank account instead of a business bank account?

Discussion in 'Starting a Business' started by AprilSTB, Feb 6, 2020.

  1. AprilSTB

    AprilSTB
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    I recently started an LLC with my sister, and have been declined from two banks when we applied for a business bank account. My question is: (1) Do I need an actual "Business Bank Account" or can I simply open a separate personal checking account, that is dedicated just to my LLC; (2) If I must open a business bank account, what other alternatives do I have if I have been declined twice? Can anyone recommend a bank that will approve someone who has been declined already?
     
  2. VITS USA

    VITS USA
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    Why both banks declined to open your account? can you please elaborate the reason? after that we can suggest you another ways to open an account.
     
  3. madgenius

    madgenius
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    If banks reject your application, perhaps something missing in the documents requirement or director id?
    If you do business legitimately, you must have business bank account. It shows your company is ready to do business and partnership.
    I also won't buy products or services from company if I have to transfer to personal private bank account. I will walk away definitely.
     

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