Do I Need an EIN to Open a Business Bank Account? [Business Bank Account Video #1]
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- Опубліковано 25 сер 2024
- Do I Need an EIN to Open a Business Bank Account? Or, can I open a business bank account without an EIN?...
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Thank you for breaking this down for us. I love learning from you.
Glad to hear you are going to be doing a series on a business bank accounts, because I currently use my personal accounts for business transactions. I am planning on opening up two business accounts in the near future and I have my EINs ready.
Yes, you can open a business bank account ASAP - you don't need an EIN. It would be best to have a separate bank account regardless if it's an actual "business" account, as classified by the bank. That way, all the transactions are separate, which helps with your accounting.
Thank you so much for your help 🙂
thanks for the clear information sis ;)
Thank you SO much! I tried opening a Small Biz account yesterday and the LARGE bank asked for LLC proof that I have a business but I’ve been consulted NOT to go LLC because we ship nationwide as an e-commerce ... I’m going to use the info you’ve provided here to Re-apply for a business acct now
What business structure are you planning to use? Or not planning to use one right now?
Business Finance Coach low volume e-commerce. Check vids on my channel out here
Hello, Miss Amanda. This is Rickey. I have just watched your video on "Do I Need An EIN To Have A Business Bank Account". I do have a business in Bookkeeping and Accounting, and I believe what you said, on the video, was helpful. I will consider this in case I do decide to apply for an EIN. In the meantime, I look forward to seeing more of your upcoming videos, and look forward to hearing from you if possible. Keep up the good work; and, if any questions come my way about the current video you were on, or any other videos you have, or will have, I will text you. Thank you so much. I look forward to keeping in contact with you.
Fabulous! Thanks for commenting Rickey!
I think it's best to use the ein for a business bank account.. why would you use your personal ss.. Wouldn't you want to separate your business from yourself?
Using an EIN doesn't separate you from the business, a LLC does.
Sea Hawks is correct - whether you use an EIN or ss is irrelevant... it's the owner of the account, whether a person or a separate entity. A solo person can have an EIN or an SS... that was the point of the question being answered in this video, not what is best either!
right I was just about to say, but look at her she look like she don't even know what she talking bout.... lol, but i think she just trying to say you don't have to use an EIN if you don't want to, as like our "rights to open a business account"
Good info will sub to watch more video's that interest me later. Do you have a video on if you need an LLC to open a business P.O. Box and also a video on can you use a virtual address for your business LLC, bank account and P.O. Box? Because i can't use my address for my business. Thanks
Hi Amanda - stumbled upon your page and glad I did. I just started an LLC - it’s a single member, just me. I did go ahead and file and got an EIN, but do not plan on having any employees as of now. I need to still open a biz bank account however, is there any unknown factor or hindrance to using that EIN to open my biz bank account even though it’s just me? Does it matter? Appreciate all your content and I find it so helpful -
If I changed my LLC Name but kept the same EIN, do I need to close my old bus bank acct with the old name (but has same EIN)?
No, you should be able to tell them you officially changed your name and update it... OR if you mean that you got a DBA for the LLC, then no, you don't need to do anything!
Can I pay myself as an employee and deduct my salary from the business as an LLC
Yes
Hi Amanda! Thank you for the great video! Could you tell please which address do I have to use to open a business bank account for Single Member LLC: home address or business address of the LLC? Thank you!
You are so welcome! Bank is going to want both - the business address of the LLC and the home address of the member - for some people they might be the same!
Is there a bird chirping somewhere in this video???
What if my personal credit score is trash. How do I get business credit card without them checking my cc score?
Thanks so suck please do contact us we need more of your help
Your awesome