Apple Developer Business Bank Account
RossmanBrothersGames
Member Posts: 659
Hey guys, wondering if anyone who has done this can answer this for me. Trying to set up our banking information for our LLC and need to open a business bank account. Was wondering if anyone knows if this requires a Checking or if Business Savings is fine. Reason I ask is checking accounts come with monthly fees and large minimum balances for a small start up. Called Apple and they told me they weren't sure...
Comments
If you an LLC and have your EIN, You should be looking at a Business Checking or Business Savings account. If you plan on writing checks, using debit cards etc. using the money you earn for operating costs, company purchases and inventory a Business Checking account is the way to go.
A Business Saving account is not spend friendly. It really is meant for saving. If that's all you need it for, get that.
If the piggy gets fat, you'll likely end up with both.
Thanks @RP I ended up finding a great package for small businesses for a checking account, everything is set up and ready for release. Though I did find out during the process with apple that a savings account would have worked as well.
www.rossmanbrosgames.com