Trying to separate business and personal

[Alek Lowry]

I am trying to do a better job of keeping my personal finances and my business finances separate. What is the best way to do this? I know I should have two different bank accounts.

Currently I bank at the local credit union. When I open a new bank account, for business purposes, should I use the same credit union? A big national bank? Does it even matter?

[Ashish Acharya]

Originally posted by @Alek Lowry:

I am trying to do a better job of keeping my personal finances and my business finances separate. What is the best way to do this? I know I should have two different bank accounts.

Currently I bank at the local credit union. When I open a new bank account, for business purposes, should I use the same credit union? A big national bank? Does it even matter?

 Yes get different accounts because it makes tracking and recording of your business transactions easier  and also keeping your personal finances within your budget if you track it. Separate accounts are also crucial for the legal protection if you use any legal entities for Liability protection. Other than that, which bank  to use depends on what features the banks offer and your personal preference.