Why Every Business Should Have Multiple Bank Accounts

Relying on a single bank account to manage all your business finances can create avoidable risks and operational friction.

In this video, Vivian from Statrys explains why many businesses choose to use multiple bank accounts instead of putting all their funds in one place.

You’ll learn how a multi-account setup can improve financial organisation, reduce exposure to banking risks, and support businesses that deal with different types of payments or currencies. The video also touches on when a multi-currency account can be a practical alternative to opening multiple separate accounts.

Key Takeaways

• Multiple bank accounts make bookkeeping and financial oversight clearer
• Separating funds by purpose simplifies expense tracking and tax preparation
• Holding all funds in one account increases operational and banking risk
• Deposit insurance limits mean spreading funds can improve protection
• Businesses handling foreign currencies benefit from separating or holding currencies strategically
• A multi-currency account can help reduce unnecessary FX conversions