I am starting a small business with a partner in a another state. We already have an LLC established. I have done some googling the differences for a business bank account at various banks. Wells Fargo, SunTrust, bank of america. The differences I can see have to do with processing credit cards and dealing with a high volume of money per day. They also provide access to direct deposits.
My business needs a bank account my partner and I can share (between states). After doing some reading I can't find anything to suggest running a business from a regular joint checking is illegal. Our company will not be processing transactions on a daily basis and has no need for credit card processing at the moment. We also do not have a need for direct deposit since there will only be him and myself as employees.
So to the accountants / bankers out there, is there any legal need for us to have a specially marked business account? Is it feasible to operate our very small company from an everyday joint checking? Thanks!