I have been researching this and can't seem to find the answer. Does it matter if the checking account you have in an FDIC insured bank (below the $100,000 limit, though that may be higher now) is a business or a personal account?
I have been looking for that question for awhile but today I noticed that Regions Bank is offering good CD rates but it is for business accounts? What does it matter to a bank if a CD is business or personal?
1. It is my understanding that a business account is considered separate
from any personal accounts, and both are insured the same under FDIC. A bank may want to attract business accounts for any number of reasons, for example businesses frequently do short term borrowing for cash flow reasons.
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