At Jetonbank, we believe that online banking is one of the areas where digital transformation has affected the banking sector the most.
Thanks to the rapid developments in software and programming technology, bank customers can easily perform online transactions without going to bank branches.
Today, with the rapid development of technology, there are great developments in customer satisfaction in the banking sector, as in many other areas.
In addition to their traditional methods, banks are undergoing an intensive digital transformation process to provide faster, more practical and easily accessible customer services.
What's a Business Account?
Business accounts are bank accounts used by companies to manage and track their financial transactions.
Companies operating commercially carry out many online banking transactions, such as salaries and invoice payments of their employees through business accounts.
Unlike personal bank accounts in the banking sector, business accounts may contain various sub-accounts in line with the needs of the business. There may be an account for cash transactions for the commercial enterprise, an account for personnel salaries, and a project account for project-based expenditures.
Money movements on business accounts can be more tightly controlled, and it is only possible to withdraw money from the accounts with the approval of the company managers.
What Do I Need A Business Account For?
Commercial companies operating today perform most of their banking transactions over the Internet. Digital banking solutions have become almost mandatory for commercial companies.
At Jetonbank, we believe opening a business bank account is the right step for you to carry out your commercial company's business efficiently and uninterruptedly and realize the fastest purchase and sale transactions with your customers.
A business bank account is not only for depositing money like personal bank accounts but also allows you to meet the needs of your business.
Opening a business bank account is essential to cover your business expenses, pay staff salaries, pay your bills and keep your accounting records organized. You need a business bank account to receive fast and secure customer payments and pay your suppliers.
With a business bank account, you can quickly make incoming and outgoing transfers and make EFT/Wire Transfers.
It is also important to have a business bank account to sue your receivables through lawyers, request a loan, or mortgage the real estate you own.
How Does A Business Bank Account Work?
Business bank accounts work in a similar way to personal bank accounts. The bank account opened in the business's name is used to carry out all financial transactions.
Information such as the business's tax plate and trade registry record must be submitted for account opening.
Business bank account commercial firms can keep their cash flow under control. Commercial companies can see incoming transfers and payments on time with the business account and make timely payments to their suppliers and customers.
Moreover, with sub-accounts linked to the business bank account, accounting and auditing processes can be examined more easily.
At Jetonbank, we believe that with business banking services, you can gather all the financial needs of your business under a single roof and reach faster banking solutions.
Why Should I Use A Business Bank Account?
In the business world, professionalism and seriousness are among the most important elements for companies' future. Your company's identity, credibility and professionalism are directly related to the details on your bank account.
If you are using your business bank account for transactions with your customers and business partners, then this paints a professional profile of your company. You are seen as a company that deposits and withdraws payments and invoices on time.
It makes your company's finances more robust and reliable. It allows you to make tax and financial reporting accurately. Your bank records are examined in detail when assigning a credit rating to your company.
A professionally managed company bank account helps you reach high credit limits. Banks take company accounts more seriously and may offer special offers and services for your company.
What is The Difference Between Bank Account And Business Account?
A personal bank account is the account we use to meet our personal needs. A business account is a bank account opened in the name of a company and used for company transactions. Individuals are the owners of personal accounts, while companies are the owners of business accounts.
The personal account uses the identity and information of the individual customer, while the business account uses the information and documents of the company. While the personal account handles the individual's private monetary transactions, the business account covers all transactions related to the company's business activities.
Business accounts can have users with different authorization levels and different signature authorizations. The individual account is simple and single-user. It is much easier to open a personal account, while a business account requires the completion of company-specific documents and procedures.
While business accounts have higher limits and transaction volumes, they also have more advantages in accessing loans and financial products. Personal accounts are used for life's needs, while business accounts are used for commercial activities.
At Jetonbank, we believe that personal and business bank accounts have advantages and disadvantages.
Are Business Bank Accounts Free?
In today's banking sector, whether the accounts opened for businesses are free has always been a matter of curiosity.
Bank accounts opened for businesses usually include some fees. However, some banks offer free bank accounts to their business customers on a trial basis for a certain period to provide a competitive advantage.
This is especially beneficial for newly established SMEs. This is because the lack of regular cash flow in the early stages of new businesses may prevent them from benefiting from paid bank services.
Business Account And Dedicated IBAN
Banks offer a variety of bank accounts to meet the needs of their customers. One of the account types opened for businesses is commercial accounts. Commercial accounts are open for businesses to carry out their financial transactions.
All financial inflows and outflows are realized through the company-specific IBAN. Branches and digital banking channels offer business-specific services through the accounts.
The Benefits Of The Business Bank Account?
Business bank accounts opened for businesses offer various benefits. First of all, business accounts enable the company to track all financial developments of the company through the business-specific IBAN.
While business bank accounts allow payment instruments such as credit cards, EFT and money transfers, companies save time thanks to their convenience when realizing financial transactions.
Jetonbank Business Account
Offshore banking refers to banking services banks established abroad offer to investors and companies. Offshore bank accounts are preferred for tax advantages, higher interest rates and more privacy.
Among the offshore banks operating in many countries worldwide is Jetonbank, which provides online banking services.
Jetonbank continues to attract attention in offshore banking with its high reliability and quality standards.
