QUESTION
Can i use a visa business prepaid (gift) card as my "business card" or do i need to have a business checking account
Asked on Mar 12th, 2015 on Business Law - California
More details to this question:
I didnt want to open a business checking account with Chase or any banks similar to that... I looked online and there are business prepaid gift cards that are like a prepaid debit card which runs no credit checks, etc. Here is an example: https://www.sageprepaidcard.com/index.html Can i use that as my business account and do all my business payments and expenses, etc.? Will i still be covered with the LLC benefits of being personal asset protected if anyone sues the business?
1 ANSWER
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As long as you don't mix personal expenses with business expenses it should not be a legal problem, but it certainly would be very unusual.
Answered on Mar 13th, 2015 at 8:16 AM