If you’ve just started a new business, one essential step is opening a business bank account. A Gigzter business bank account helps small business owners manage finances, payments, and invoicing, and simplify tax filing.
If you are new to owning a business, you might need to figure out exactly what to expect when you open a new business bank account. Knowing the information and documents required in advance can streamline the process of getting it set up.
Why open a business bank account?
It makes tracking your business’s cash flow easier, so you have a bottom-line accounting of revenue and expenses. It can be very challenging to do your taxes at year-end if you have co-mingled your personal finances with those of your business.
Business bank accounts make it easier for you to give someone else — like a business partner or bookkeeper — access to your transactions. An extra benefit of Gigzter’s business bank account is that it comes with many tools (like built-in payment acceptance) not available on consumer accounts that make running your business easier daily.
Establishing a business bank account can also help you build your business’s credit profile.
Grab what you need to open a business bank account
At Gigzter, our customer’s security is our priority. We need to review three things to keep our platform and users safe.
- Photo ID: We require a government-issued photo ID (Driver’s license, passport, etc.).
- Phone Number: We require a valid mobile phone number (no VoIP)
- SSN: Last four digits of your SSN
If we need more information to verify your identity, we will also require you to upload additional documentation.
The process of opening a bank account
Once you have all the documents you need, opening a business bank account is easy. You download the GigZter app and follow the instructions. Typically you can apply in minutes if you have the correct details and documents.
When you’re ready to open your business bank account, you can download or app and start the application.