A mones business bank account (MBBA) is an account where you can create a personal bank account for your business. You will only be able to use this account for business expenses. You can only create an MBBA if you have a business.
Although many businesses run their own MBBs, the idea behind an MBBA is useful if you’re also creating an MBB account for your personal account (if you’re not). Your personal account can be useful in the sense that it can hold a check, for example. You can also use this money for the business account. That way you can pay for your bills etc.
If you’ve ever had a personal account that has gone from zero to $10,000 in a matter of days, you know that you can feel some financial panic. I know this because I have a personal account with my bank called “monese” that has gone from zero to $60,000 in a matter of days. This is a good thing, because I’m going to use that account to get my son a new car.
In the past, banks have been notorious for charging a lot more for the services than they actually provide. It’s all too common for banks to charge you a fee for things they don’t actually do, or even for things they do and then let you pay to get things you’re going to do anyway. This is particularly a problem with personal accounts. A bank has no business telling you that it will pay you $5 for a transaction, though.
Well, the problem is that banks are so lazy. They don’t even bother to maintain their websites or web apps. They just make you type in your account number and then a text box pops up with the total amount, and then you pay it. That’s it.
The good news is that you can change your bank account without having to leave your computer. If you’re not using your money yet, you can take out a personal loan and create a business account. There is a lot of misinformation out there about this, but if you’re not careful, you can end up with a lot of credit card debt.
The good news is that if you use your personal credit card every month, you can get your own personal money statement online. If you have credit card debt, you can either pay it down or try to get credit from your bank directly. The good news is that you don’t have to do either of those things, since you can simply create a business account.
It’s actually the exact opposite of what you think. Instead of having a business account in your own name, you create a business account for your wife at an online bank. If you want to buy a new car, or a new TV, or whatever, you just log in there and put in your information and you got it. Ive never done that, but I know some people that have, and they say it is pretty easy.
So now you can buy a lot of stuff online for your wife and kids without ever having to go into your business account. Sure, you can use the cash you make from the online bank to pay for things, but it’s a lot more convenient and less stressful.