Self-employed? Keep it simple with a separate account for work

Separating your work and personal money lets you simplify your cash flow so you can take control of your finances. If you're not incorporated, a Fidelity® Cash Management Account for your work finances can help.

3 reasons to separate work and personal accounts

When you work for yourself, the money you earn is yours. You likely don't think twice about using your personal checking account to deposit checks and track expenses. Here's how opening a second account just for work can make a difference.

Better track cash flow and manage expenses

A clearer picture of money coming into and going out of accounts you use for work lets you plan more accurately.

Be more prepared for tax season

Keeping work finances separate can help simplify the tax filing process, which may help avoid mistakes and potential penalties.

Make your work more attractive

When your finances are organized, it can be a sign your work is too, giving those you do business with peace of mind.

Take control of your business finances with Fidelity Cash Management

Our award-winning account1 lets you track and manage all your business transactions in one place.

Get organized

Easily track business income and expense online.

Spend & save confidently

Get FDIC insurance on cash balances.2

Put your money to work

Help maximize returns with higher rates on cash balances3 plus investment options.

Learn more

Features that go beyond traditional checking

No monthly fees or minimums 4

2.72% APY* on cash balances

Free online transfers with banks5

Secure debit card

FDIC insurance on cash balances2

ATM fees reimbursed globally from other institutions 6

*Source: Fidelity rate as of July 31, 2023. FDIC Monthly National Deposit Rate as of July 17, 2023.

Key considerations

Transfer with Venmo, PayPal (and more)

In addition to free online transfers with your bank accounts4, you can easily transfer money between your Fidelity® Cash Management Account and peer-to-peer payment services like Venmo, PayPal, and other popular apps.

Set up automatic transfers

Schedule recurring transfers to deposit money to your bank account or move money between your Fidelity accounts. Or, automatically transfer money from your Fidelity® Cash Management Account to investments in your retirement or brokerage accounts.

Open as many accounts as needed

Already have a Fidelity® Cash Management Account for your personal finances? You can open as many accounts as you like. An additional account may be a good option to keep your business and personal finances separate.

Ready to get started?

See how a Fidelity® Cash Management Account can help you get organized and take control of your business finances—even if you're just starting out .

Need more help?

Figuring out cash flow and budget

Find out how to establish a realistic budget to help keep your business on track to meet its goals.


6 must-know tax tips for self-employed

Learn how to avoid common mistakes first-time business owners often make.



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