Dry spot #1
Business and personal money mixed
Customer payments landing in your personal account make bookkeeping, taxes and liability protection harder.
Banking & Merchant Account Setup, Ready on Day One
Getting off the ground means having the right financial foundation. We guide you through choosing a business bank account, preparing the documents banks ask for and setting up card processing and online payments, so your money moves as smoothly as your business.
- Buttered Launch
- Free tool inside
- Plugs into The Buttered System
- 7 deliverables
Quick answer
What is a merchant account?
A merchant account lets your business accept credit and debit card payments and moves the funds into your business bank account. Buttered Business guides you through opening a business bank account, preparing the documents banks ask for, and choosing and setting up merchant services, payment processors and online payments. Banks and processors make all approval decisions.
At a glance
| What it is | Guided setup for your business bank account, merchant services and online payments, so customers can pay you from day one. |
|---|---|
| Part of | Buttered Launch |
| What’s included | 7 deliverables, itemized below |
| Best for | Home Services, Nonprofits, Political Campaigns, Private Schools |
| Free tool | Business Fundability Quiz |
| Follow-up | Plugs into The Buttered System |
| Pricing | Custom quote, with exact pricing in writing before you commit |
If This Sounds Familiar, Keep Reading
Be honest: how many of these are happening in your business right now?
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Dry spot #2
Account opening stalls
Show up without the right documents and you’re back next week, still unable to take payments.
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Dry spot #3
Fees you didn’t see coming
Percentage rates, per-transaction fees, monthly minimums. The real cost hides in the fine print.
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Dry spot #4
Customers who can’t pay the way they want
No card reader, no online checkout, no payment link. Every “can I pay later?” is a sale at risk.
Every one of these has a fix, and it starts with seeing your own numbers.
Take the Free QuizDry Toast vs. Buttered
Here’s what changes with Banking & Merchant Accounts done right and connected to your follow-up.
Dry Toast
- Customer payments landing in a personal account
- Multiple trips to the bank for missing documents
- A processor chosen on the first quote, fees unknown
- Cash or check only, and lost sales because of it
Better with Butter
Buttered
- A business account that keeps your money separate
- Documents ready the first time you apply
- Fees compared side by side before you sign
- Cards, online checkout and payment links ready to go
What You Get, and What It Means for You
Features are nice. Outcomes pay the bills.
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The right account for how you work
Checking, savings and payment options matched to how your business brings money in.
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Documents ready before you apply
A checklist of what banks commonly ask for, so opening day goes smoothly.
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Fees compared in plain English
Discount rates, transaction fees and monthly minimums laid out side by side.
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In person, online and by invoice
Card readers, online checkout and payment links, set up for how customers buy.
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Security basics covered
A plain-English PCI DSS checklist, so card data is handled responsibly.
How It Works, Step by Step
No mystery and no black box. Here’s exactly what happens after you say go.
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Step 1: Map how you get paid
In person, online, by invoice or recurring. We start with how your customers buy.
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Step 2: Prepare your documents
We help you gather your EIN, formation documents, ownership agreements and licenses.
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Step 3: Choose and open accounts
You choose the bank and processor after comparing options and fees with us.
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Step 4: Set up payments
We guide setup of card readers, online checkout and payment links.
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Step 5: Connect and test
Payment links connect to your website and follow-up, then we test a real transaction flow.
Everything Included With Banking & Merchant Accounts
Here’s the work, itemized like a diner receipt, so you know exactly what you’re getting.
7 items, zero mystery ingredients
Butter-Smooth Payments
- Business bank account checklist
- Document prep list: EIN, formation documents, ownership agreements and licenses
- Side-by-side comparison of merchant services and processor fees
- Card reader, online checkout and invoicing setup guidance
- Payment links connected to your website and follow-up
- PCI DSS basics checklist
- A plan for keeping business and personal money separate
Total Fully buttered
Exact scope and pricing in writing before you commit.
Don’t Take Our Word for It. Take Theirs.
We could tell you we’re great. You’d expect us to. So here are our clients, in their own words.
For all your marketing needs, Sublime Digital Marketing and Ken Henderson to the rescue!
Everyone quoted here worked with founder Ken Henderson when his agency was called Sublime Digital Marketing Group. Same founder, new name. Quotes are excerpts, exactly as given. Results vary by business.
On this page 10 sections · 4 min read
Get Buttered!
A free call with a real human. We listen first, then tell you honestly whether and how we can help.
Book My Setup CallThe full scoop
Why a Business Bank Account Comes First
A business bank account keeps your business money separate from your personal money. That matters more than it sounds. The U.S. Small Business Administration notes that keeping business funds separate provides limited personal liability protection. It also lets customers pay your business instead of you personally, and it makes bookkeeping and tax time far simpler.
Getting your business off the ground means having the right financial foundation. Buttered Launch takes the guesswork out of opening your business bank account and setting up merchant services. We guide you through choosing the right bank, preparing the documents you’ll need and structuring your accounts for smooth operations and future funding opportunities.
What You’ll Need to Open a Business Account
According to the SBA, banks commonly ask for:
- Your Employer Identification Number (or your Social Security number, if you’re a sole proprietor).
- Your business formation documents.
- Ownership agreements, such as your operating agreement.
- A business license.
Some banks ask for more, and you’ll also be asked to verify your identity. We give you a checklist built for your situation, so you walk in ready. Not formed yet? Start with business formation.
Choosing the Right Bank
The right bank depends on how you run your business. Ask a few practical questions before you open an account:
- Do you deposit cash often, or is nearly everything electronic?
- What are the monthly fees, and what does it take to waive them?
- How many transactions are included before extra fees kick in?
- Does the account connect to your accounting software and your payment processor?
- Can it grow with you, with business credit cards, lines of credit or merchant services when you need them?
We help you weigh your options against those answers. You make the choice, and the bank makes its own decision on your application.
Merchant Accounts, Processors and Online Payments
A merchant services account lets you accept credit and debit card transactions from your customers. Payment processing companies are an alternative and may offer extra features, like card readers that work with a phone. Either way, the SBA notes that you’ll still need a business checking account to receive the money.
The right setup depends on how your customers buy:
- In person: a card reader or terminal at the counter or on the job site.
- Online: checkout on your website.
- By invoice or proposal: payment links your customers can pay from their phone.
- Recurring: automatic billing for memberships, retainers or service plans.
The Fees to Compare
Processing fees are where the real cost hides. The SBA suggests comparing the discount rate (the percentage charged on every transaction), per-transaction fees, address verification fees, ACH batch fees and monthly minimums. We also look at equipment costs, contract length and early termination fees. You get a side-by-side comparison in plain English, then you choose.
Security Basics
If you take cards, card security is part of the job. The PCI Data Security Standard applies to all entities that store, process or transmit cardholder data. Your processor will tell you which requirements apply to your setup. We give you a plain-English checklist, so you start with good habits instead of fixing them later.
Get Paid From Your Website and Your Follow-Up
Payments work best when they’re part of the sale, not an afterthought. In The Buttered System, The Melt is the step where “maybe” becomes “yes,” and simple proposals and payment links are a big part of it. We connect your payment links to your website and follow-up, so a customer who says yes can pay right then.
What We Won’t Promise
We won’t promise approval from any bank or processor. They review applications against their own rules. We also won’t choose for you. You pick the bank and processor after comparing them with us.
Who It’s For
A great fit if you’re newly formed, still taking payments in a personal account or tired of turning away customers who want to pay by card or online. Nonprofits and campaigns setting up donation payments fit here too. Political committees should confirm banking and registration requirements with an election-law attorney.
Probably not for you if you need high-risk or international processing. Those need a specialist, and we’ll point you toward one.
Buttered Business is not a bank, lender, law firm or CPA firm and doesn’t provide legal, tax or financial advice. Banks and processors make all account and approval decisions.
Keep reading: Starting a Business: LLC, EIN, Banking and Business Credit in the Right Order, on our Marketing Wisdom blog.
Banking & Merchant Accounts for These Industries
Each industry has its own rules and buying cycle. Pick yours to see the playbook built for it.
Straight Answers About Banking & Merchant Accounts
No jargon, no runaround. If your question isn’t here, ask a real human.
Still chewing on something?
Ask a real human. We answer in plain English and never send you down a jargon rabbit hole.
What do I need to open a business bank account?
Banks commonly ask for your EIN (or a Social Security number for a sole proprietorship), your formation documents, ownership agreements and a business license, according to the SBA. Some banks ask for more, and you’ll also verify your identity. We give you a checklist before you apply.
What’s the difference between a merchant account and a payment processor?
A merchant services account lets you accept credit and debit card transactions. Payment processing companies are an alternative that may offer extra features, like card readers that work with your phone. Either way, the SBA notes you’ll still need a business checking account to receive the money.
What fees should I compare?
The SBA suggests comparing the discount rate (the percentage charged on each transaction), per-transaction fees, address verification fees, ACH batch fees and monthly minimums. Also ask about equipment costs, contract length and early termination fees before you sign anything.
Do you choose the bank or processor for me?
No. You choose. We help you understand your options, compare fees and prepare your documents, so you can decide with the full picture in front of you. The bank or processor makes its own approval decision.
Can you guarantee my merchant account will be approved?
No. Banks and processors review every application against their own underwriting rules and make the decision. We help you apply with complete, accurate information, which is the part you can control.
Do I need to worry about PCI compliance?
Yes. The PCI Data Security Standard applies to all entities that store, process or transmit cardholder data. Your processor will tell you which requirements apply to you. We give you a plain-English checklist so card data is handled responsibly from the start.
Get Set Up to Get Paid
Book a free strategy call. We’ll map how your customers pay, list the documents your bank will ask for and show you which fees to compare before you sign anything.
Free. No obligation. No credit card. We never sell your information.
Not ready to talk yet? Try the free Business Fundability Quiz
P.S. The cheapest-looking processor isn’t always the cheapest. We’ll show you where the real fees hide before you sign.
Prefer to talk to a human?
Buttered Business is not a bank, lender, law firm or CPA firm and doesn’t provide legal, tax or financial advice. Banks and processors make all account and approval decisions.