Step 8 of 13
Open a business bank account
Keep business money separate from personal money.
- Time
- 1 hour
- Cost
- Often a small monthly fee
Why separate
A separate account makes the books much cleaner at tax time and makes it easy to see what the business actually earns.
What to bring
Your BC Registry confirmation, your Business Number and government ID.
Tell the bank what you sell
Some banks and payment processors treat certain product categories as higher risk. Being upfront now avoids having an account closed later.