What is the difference between a company account and an individual account? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

What is the difference between a company account and an individual account?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

A company account, registered in the name of a legal entity, has different powers and documentation than a personal account.

Key points

  • Keep business funds separate from your personal funds.

  • Never use a personal account as a permanent substitute for a business account that requires one.

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