To open a business checking account, you’ll need both your own Social Security Number as well as your business Employer Identification Number (EIN), your business license, a certificate of assumed name or DBA (if applicable), and some form of personal identification - usually a driver’s license.
Technically (and legally) you can use a personal bank for your small business, but it is not recommended. It’s best to have a separate, business-only bank account where you can do all of your business banking and ensure it’s kept separate from your personal finances.
Legally, you don’t need a separate bank account for a DBA, though it is strongly recommended. As a DBA (Doing Business As) you’re operating a separate, legal entity. In order to keep your finances clean and separate, you should have a separate bank account.
No, you cannot pay personal expenses from a business account as they’re not deductible business expenses. If you do this by accident, those expenses are subject to taxes and can convolute your business expenses. It’s best to keep a separate account for personal and business expenses to ensure everything is totally separate.
You can open a business checking account at a credit union, but each credit union is going to be different in which products and services they offer. There are many benefits to using a credit union, as it often functions as a local community bank, but it’s best to check with the local credit unions in your area first to see if they offer business accounts.