What is the difference between personal and business accounts?

Bankera offers two distinct account types to cater to different user needs: Personal accounts and Business accounts. Understanding the differences between these account options can help you choose the one that best suits your requirements.

Personal Accounts

Personal accounts are tailored for individual clients and are ideal for everyday financial activities, such as payments and transfers. These accounts provide users with the tools to manage their personal finances efficiently, offering features like secure online banking, easy access to funds, and streamlined payment solutions.

Business Accounts

Business accounts are designed to meet the needs of companies across various sizes and industries. These accounts provide specialized financial solutions for businesses, including features like multi-user access, advanced payment options, and tools to manage corporate finances effectively. Business accounts are perfect for handling higher transaction volumes and ensuring seamless financial operations for organizations.

How to Decide Which Account is Right for You?

Consider the following factors when choosing between Personal and Business accounts:

• Purpose of Use: If you need an account for personal financial management, sign up for a Personal account. For company-related transactions and financial operations, choose a Business account. Kindly be advised, that if you are operating as a freelancer and receive payments from customers for activities connected to business operations, your personal account may be subject to business pricing policies.
• Features: Evaluate the features offered by each account type to ensure they align with your needs.
• Transaction Volume: Business accounts are better suited for handling higher transaction volumes compared to Personal accounts.