What is Business Bank Account? Definition, requirements, and how it applies to your business formation. Learn everything about business bank account for LLCs and corporations.
# Business Bank Account
A business bank account is a financial account opened in the name of a legal business entity (LLC, corporation, etc.) rather than an individual. It separates personal and business finances, which is essential for maintaining the liability protection that your entity structure provides.
Opening a business bank account requires your EIN, Articles of Organization/Incorporation, and operating agreement. Commingling personal and business funds is one of the primary ways courts justify piercing the corporate veil.
Lovie's formation-to-banking pipeline ensures your entity is bank-ready immediately after formation — EIN obtained, documents prepared, and account opening streamlined.