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Is it REQUIRED to have a Business Checking account for a Corporation, or is a SEPARATE 'personal' account (using the business EIN and Name) ok? Are there any benefits to choosing a 'business' account over a 'personal' ?

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Can you open a checking account in your friend's name? You are not the corporation. You must have separate accounts. – Gary E♦ Aug 2 '12 at 20:45

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Corporations (at least in the US) are required to have a separate banking account. Not having a separate account will allow piercing the corporate veil and put your personal assets in jeopardy.

Banks will not open a "personal" account with an EIN as tax ID.

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