• Monica Fields

Do process server's need a bank account?

All process serving companies need a bank account

It’s critical for process servers who wish to do business to open a business account. There are many reasons for process servers to open a business account such as protection, professionalism, and buying power.

Why process servers need process servers

Before you start spending money or taking payments for services rendered, you definitely need to open a bank account. When opening your business accounts you should open a checking account, savings account, and credit card accounts.

You need a Federal employment identification number to open a business bank account.

Once you open your bank account you would be protected by the FDIC. Banks and merchant services offer professional services like giving customers the ability to pay with checks and debit/credit cards.

Find the right business account for your process serving company

It may be helpful to open a business account in the same bank you currently bank. Using your current bank may offer you incentives that you won't get elsewhere. When you are opening your business bank account you should consider interest rates, introductory cost, termination fees, and minimum account balance fees.

There are other factors when considering if you decide to open a merchant account such as discount rates, transaction fees, address verification, and monthly minimums.

What document do you need to a business bank account

Opening a bank account for your business can be simple once you have the proper documentation. In this modern era you can simply go online to open a business bank account. To open your business bank account you will need a EIN, your business structure, and owner’s agreement between all partners.

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