Yes, absolutely! If you are starting an eCommerce business, setting up a business banking account is essential. Whether you use WooCommerce or Shopify, a bank account is necessary to receive funds from your sales revenue.

Here are some of the reasons why you need a bank account to sell on Shopify:

Secure Payment Processing

Having a bank account allows you to securely process payments from customers. This is especially important if you are selling online, as customers need to be able to trust that their payments will be securely processed. Without a bank account, customers may be hesitant to purchase from your store.

Keep Track of Your Funds

Having a bank account also allows you to easily keep track of your funds and transactions. This is especially helpful if you are managing multiple accounts, as you will be able to see where your money is coming from and where it is going.

Easily Receive Payments

A bank account also makes it easy for you to receive payments from customers. With a bank account, customers can easily transfer funds to your account, and you will be able to access them quickly.

Easily Withdraw Funds

Having a bank account also makes it easy for you to withdraw funds from your account. You can quickly and easily transfer the funds to your personal account or other accounts.

Easy Access to Credit

Having a business banking account may also give you access to credit, which can be helpful if you need additional funds to run your business. This can be especially helpful if you are starting a new business, as you may need additional funds to cover costs.

Tax Preparation

Finally, having a bank account makes it easier for you to prepare for taxes. Having all of your financial information in one place makes it easier to keep track of your expenses and income, which can help you better prepare for tax time.

Overall, having a bank account is essential if you are selling on Shopify. A bank account provides you with secure payment processing, enables you to easily receive payments, and gives you easy access to credit and tax preparation.