Comments on: ING Business and Personal Savings Review http://www.obliviousinvestor.com/ing-business-and-personal-savings-review/ Investing Blog: The Oblivious Investor Tue, 07 Feb 2012 17:04:11 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Nat Couropmitree http://www.obliviousinvestor.com/ing-business-and-personal-savings-review/comment-page-1/#comment-4745 Nat Couropmitree Mon, 08 Feb 2010 17:54:47 +0000 http://www.obliviousinvestor.com/?p=5154#comment-4745 Thanks Mike. I appreciate your quick and clear response. Nat Thanks Mike. I appreciate your quick and clear response.

Nat

]]> By: Mike http://www.obliviousinvestor.com/ing-business-and-personal-savings-review/comment-page-1/#comment-4743 Mike Mon, 08 Feb 2010 16:59:47 +0000 http://www.obliviousinvestor.com/?p=5154#comment-4743 Hi Nat. That's not a stupid question at all. The answer depends upon the structure of your business. If your business is a sole proprietorship, then there would be no problem with using a personal savings account for your business. If, however, your business is a separate entity such as a corporation, it would be important to open an account in the business's name rather than your own name. (And you would, therefore, need a business savings account.) Hi Nat.

That’s not a stupid question at all.

The answer depends upon the structure of your business. If your business is a sole proprietorship, then there would be no problem with using a personal savings account for your business.

If, however, your business is a separate entity such as a corporation, it would be important to open an account in the business’s name rather than your own name. (And you would, therefore, need a business savings account.)

]]> By: Nat Couropmitree http://www.obliviousinvestor.com/ing-business-and-personal-savings-review/comment-page-1/#comment-4742 Nat Couropmitree Mon, 08 Feb 2010 16:54:37 +0000 http://www.obliviousinvestor.com/?p=5154#comment-4742 Hi Mike, Thanks for the great review. I've been using ING for my personal savings account for many years. Been thinking about opening one for my business too. Sorry if this seems like a stupid question... just wondering if you can tell me what is the difference between a personal and business savings account. The personal savings account has a higher interest rate. Wondering if I can just open a 2nd ING personal savings account for my business...? Nat Hi Mike,
Thanks for the great review. I’ve been using ING for my personal savings account for many years. Been thinking about opening one for my business too. Sorry if this seems like a stupid question… just wondering if you can tell me what is the difference between a personal and business savings account. The personal savings account has a higher interest rate. Wondering if I can just open a 2nd ING personal savings account for my business…?

Nat

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