Ozark Bank Totally FREE Business Checking Account FAQ's
What is a business checking for?
A business checking account is for managing the financial transactions of a business. It helps keep business finances separate from personal finances. It provides a professional way to manage cash flow, pay bills, receive payments, and maintain financial records.
What are the advantages of the Totally Free Business Checking Account versus Ozark Bank’s other business checking accounts?
The Totally Free Business Checking Account offers several benefits, including no hidden fees, 1,000 free monthly transaction items, no minimum balance requirement, and no monthly service charges. These features are particularly advantageous for small businesses or startups looking to minimize banking costs.
Do I need an Employer Identification Number (EIN) to open a business checking account?
You are not required to have an EIN to open a business checking account. If you haven’t filed your business for an EIN, you may use your personal SSN.
Why can’t I use my personal checking account for my business instead?
Using a personal checking account for business transactions can complicate tax filings, make it difficult to track business expenses, and may not provide the necessary features and protections that a business account offers. Keeping personal and business finances separate is generally recommended for clarity and legal reasons.
What bills can I pay through my business checking account?
You can pay various business-related bills through a business checking account. This includes operational expenses like rent, utilities, supplier payments, employee salaries, and other business-related expenditures.
What do I need to have to open a business account?
You will need your business registration documents, EIN (if applicable), personal identification documents, and an initial deposit. The exact requirements can be confirmed with Ozark Bank.
How can I open a business checking account?
To open a business checking account with Ozark Bank, you can talk to one of our Business Officers
or visit an Ozark Bank branch in person.