Business Banking Account?

Lisa shouldn't open up a money market account for her first business account. Just a simple checking account will do.

QUESTION: Lisa wants to open a business bank account for a new business.  Is a money market a good option?

ANSWER: Money market accounts are too cumbersome.  You should just open a simple checking account to get started.  You can open a sole proprietor account using your social security number.  This is a DBA account where you have your name “Doing Business As” and then the name of your business on the account.  That’s the best place for you to start.