What kind of bank account should I open for my band?
fucilurr asked:
I’m in a band that is about to go on tour and all of that stuff. We need a bank account to keep our money in one place and to open a Paypal account for merchandise. Do i get a personal account, a small business account, or something else. I would be doing most of the book work and everything for it though. We don’t really know a thing about banking, so what would be the best choice for a traveling band?
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I’m in a band that is about to go on tour and all of that stuff. We need a bank account to keep our money in one place and to open a Paypal account for merchandise. Do i get a personal account, a small business account, or something else. I would be doing most of the book work and everything for it though. We don’t really know a thing about banking, so what would be the best choice for a traveling band?
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Go to a big bank. One that has offices everywhere you might go to. I donno, like a bank of america or something. Open up the smallest cheapest account they offer. Only you handle it.
As it is for business you should open a current account with some international bank which should be with the company name & one or more than one person (as applicable) should be signatory of the same. The account must have a felicity of checkbook & ATM card together so that you can issue business cheques to make payments & even withdraw the money from ATM machine.
Opening the account headed by an international currency is also a good idea rather than in local currency. You might gain better value of your money like that if you are able to choose the right currency i.e. Dollar or Euro etc..