What is corporate account in bank

A corporate account is a bank account opened in a company's legal name to manage business finances independently from personal funds. In India, these accounts are essential for registered entities like LLCs or corporations to facilitate business transactions, including:

• Receiving payments from customers and paying suppliers
• Managing payroll and bulk transfers
• Accessing business-specific features like trade finance, treasury services, and corporate credit cards
• Ensuring legal compliance and liability protection by separating business assets from personal assets

It enhances a company’s professionalism and provides clear financial records for auditing and tax purposes.