Do I have to open an business bank account fo my LLC

can I transfer money from my personal bank account to my suppliers?

[newestdeal]

I just formed an LLC, my question maybe is stupid, but Do I have to open an business bank account fo my LLC? or can I pay my suppliers by transfering money from my personal bank account?

thanks

[rise2it]

Keep personal and your LLC seperate.

That's why you HAVE an LLC.

Start mixing money, and all of your asset protection goes out the window...

[percentages]

>"Do I have to open an business bank account for my LLC?"

No, but I would recommend that you do!

Maintaining a business bank account will make your life easier, and will keep folks, like the IRS, much happier.

There are many banks that will give you a business bank account for free (including checks and credit card processing) as long as you maintain a small sum in credit at all times. Go with one of those.

Opening the account will cost you 30 minutes of your time, after that it will be much easier for you to maintain your accounts and save you that 30 minutes many times over :)

Co-mingling funds with your personal accounts becomes horribly confusing when it comes to accounting and reporting tax.

It is much better to keep it separate and simple :)

[BradleyT]

I just looked at "small business" checking accounts a few weeks ago and the bank that I go to offers it free with no minimum balance and only $100 deposit to start.

A bank in the building next door has the same offer with a minimum $500 initial deposit.

You should be able to find a bank locally that offers free business checking.