Would it be a good idea to use the same bank that I have my personal accounts at to set up my business accounts there also,or should I just use two different banks.
What are the pros & cons.
If you already have a relationship with the bank, it would benefit you to do more business with them. I consolidated my primary accounts to PNC a couple of years ago just because I liked them better than the other banks I was using. I have two businesses with primary accounts there and my personal primary accounts are there as well. Thus, anytime I've asked the bank for anything I've been approved without any problems because I have so much on deposit. My aggregate account totals also give me "high roller" status, so I got a lot of service fees waived. Plus, the branch staff all know me by name.
You will want to have relationships with more than one bank, but starting out I think it's probably best to use the same bank for business and personal.