Not everyone agrees with me – but I am a fan of separating your personal banking and your business banking into separate banks. Not just separate accounts I mean separate banks. For example your business account is at RBC and your personal account is at BMO.
It is not possible for a bank to put your deposit in the wrong account if you only have one account at that bank!
It is also not possible for a bank to decide to cover an overdraft in your business bank account with funds you have on deposit in an a personal account if the bank accounts are not with the same bank.
A business owner can improve their bookkeeping if they make sure that personal activity is not in their business accounts and vice versa. Separate banks make this easier to accomplish because it is easier to remember that RBC is for business and BMO is for personal when you are pulling debit cards out of your wallet.
Keep your banking separate and simplify your life.