The Benefits of a Business Bank Account & the Top 3 Banks for Business Credit Cards
When running a business, small or large, it's critical to keep your finances in order. From setting money aside for taxes to budgeting for branding and marketing materials, having your finances organized will help your business stay a float.
Keeping your personal finances separated from your business finances will help prevent the mishandling of money, make accounting easier on your financial team (or you!), and will prevent your personal credit from being effected. While it may seem very difficult to open a business bank account, Novo is an online bank account made with the small business owner in mind! It takes less than 5 minutes to sign up and you'll be instantly approved.
If you own a business that operates with a team of people, having the ability to direct deposit is always a plus. By using this banking feature, you'll be able to properly distribute payments to team members and if you bank with Novo, it comes at no additional fee. Additionally, you'll be able to keep a record of any payments distributed to team members, freelancers, vendors, and more.