I have been using PayPal for almost all my business transactions for years now – however, I recently had to (briefly) open an old fashioned business bank account for a special project I was working on.
I was amazed at how expensive and useless a regular business bank account is compared to PayPal!
There were service charges for everything, on top of a monthly fee – and I couldn’t do half of the things I’m used to doing with ease with PayPal.
Now obviously, if you’re a large corporation, there are reasons why you might need an old fashioned business bank account – but for the vast majority of sole proprietor creative professionals and other small business owners, PayPal is a much more useful alternative to traditional banking.
Here are three reasons why I use PayPal for my business banking and not a old fashioned business bank account…