A business bank account (or "business account) is a depository account at a bank that is designated for business purposes.
When we talk about business bank accounts we are typically referring to checking accounts or savings accounts that businesses use for deposits, withdrawals, and temporary storage of cash for business related operating expenses - like payroll, paying bills, etc.
Business bank accounts do not give merchants the ability to accept credit card payments - that would be the businesses merchant account. Unlike merchant accounts, business accounts are simply a repository for your company funds. On the other hand, business merchant accounts do not act as repositories for storing cash or making payments.
If a business wants to accept electronic payments (credit cards, debit cards, gift cards, etc.) – they will typically need both a merchant account (to process the card transactions) and a business bank account (to store the received funds from selling goods/services).
However, there are ways to accept electronic payments without setting up a merchant account by using a Payfac, or "Payment Facilitator Service". Payfacs house all of their merchants under one aggregate merchant account which processes the electronic payments for the merchant and allows them the functionality of a merchant account with the setup. Some examples of payfacs are: Stripe, Paypal, Square, etc.
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