So, dumb question: I don't really know anything about banks accounts but I want to open a separate one from my main one to receive money. I'm planning to sell things online and this account will only be used to store money that's incoming; expenses are minimal and so won't be taken from that account. What's the best way for me to do this? What do I need to look for in an account? Are there specific names for these accounts or should I just be looking for the one with the lowest monthly fees?
>>1375157
Depends. Is the account for a business (incl self employed) or personal? Sounds like personal in your case. And what bank are you with?
>>1375205
Technically business, self-employed, but from the IRS guide looks like I can consider it a hobby. Wells Fargo is the bank.