Looking for the best business bank account? If you’re a sole proprietor, you can simply open a personal bank account at a new bank or your existing financial institution. If you use it for depositing business cheques made out in your own name, you won’t need to have an official bank account. You can probably still write off the banking costs (depending on your country’s laws). And, because you’ve kept your personal banking activities separate from your business banking activities, you’ll have more protection, as mentioned in the best business bank account article.