HomeHow to Transfer Money from a Personal Account to a Business Account

How to Transfer Money from a Personal Account to a Business Account

On this page, we will explore the topic of transferring funds from personal accounts to business accounts. Also, we share the best money transfer companies for transferring funds and the legality of this transfer type.

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There are many things to consider when transferring money from your personal account to the business one. We help you figure out the significant factors to consider and the various ways that you can complete the transfer.

We have researched the top money transfer companies and provide three services you can trust for sending money to your business account from the personal one. For the curious among you, they are Wise, TorFX and Xe.

Can you transfer money from personal to business accounts?

Yes, you can send money from your personal account to the business one. It is one of the primary ways business owners will fund the business over the long term. Also, business owners may receive funds to their personal accounts from friends and family, and then they can move the funds to the business account.

It is a legal form of transfer, but you should check with your accountant or lawyer. That is because the details of the business type and local laws might differ based on your region. Make sure to keep a record of the transaction since they might be required for tax purposes.

Also, you should plan ahead of time about how the money will be spent. For example, business funds sitting in the account will not contribute to business growth. Therefore, you need to decide if it will go towards adding more inventory, developing products, or paying for business-related services.

How to move money from a personal account to a business account?

In this section, we will cover different aspects of transferring funds from the personal account to the business one. This is a great starting point for new business owners or veterans exploring additional options. Here is a step-by-step process of the money transfer:

  1. Visit our Companies page and choose a money transfer service that you want to use for sending money to your business account from the personal one.

  2. Register with the company and create a business account. Most companies we recommend also allow you to create a personal account.

  3. Go to your personal account and enter the recipient details of the business account.

  4. Select the amount you wish to transfer and the currency.

What are the best ways to transfer money from a personal account to business?

Now let us turn our attention to the various types of money transfers that can be used for sending money from the personal account to the business one. Getting the lay of the land allows you to consider the methods that are a good match for your business.

  • Bank transfer: this is the traditional transfer method that is trusted by businesses around the world. Bank networks that use ACH (automated clearing house) transfers or SWIFT transfers have networks that span the globe. This is great for international businesses that wish to send money abroad. However, the cost of a bank transfer can be in the range of $20 to $50, and the transfer time is 2-7 business days. You can reduce the transfer time with services like Wise, which allows for instant transfers.

  • Money transfer: this type of transfer involves sending money from a credit card or debit card to your bank account. This is a fast way to fund your bank account that enables the business funds to be utilized immediately.

  • Credit card transfers: a common way of funding your business is opening credit card accounts and sending the money to the business bank account. When choosing this method, you need to be aware of the interest the account will incur when it is negative.

  • Loans: you can fund your business through a personal loan. This means that eventually, the loan must be repaid, and the term for the loan depends on the individual. The advantage of funding a business with personal loans is the tax write-off, but you need to check this for yourself. Hiring the services of an accountant enables you to figure out the legalities of sending a personal loan to the business account.

  • Money transfer companies: you can take advantage of in-house money transfer services when sending money from your personal account to the business account. For example, money transfer companies like TorFX and Currencies Direct allow you to transfer money between the two accounts with ease.

Top 3 platforms for easy transfers between personal and business accounts?

We understand that you might not have time to research the money transfer industry for the top companies. Therefore, we have analyzed the marketplace and found three options that you can use for sending money from your personal account to the business one.

1. Wise – Best for low-cost transfers

Wise is a top-tier money transfer service perfect for personal and business accounts. They offer balance transfers without a charge, which can be used for sending money to your business account. Also, Wise matches the mid-market rate for most currency pairs.

Wise is regulated by the Financial Conduct Authority and offers a transparent service. Therefore, you can understand the fee structure and trust that no extra fees will be charged. Finally, the customer service department goes the extra mile to help customers overcome the challenges of sending money from their personal account to the business one.


Low-cost transfers and matches the mid-market rate
Regulated by the Financial Conduct Authority
Beginner-friendly user interface


Sometimes transfers get delayed by 1-2 days
Limited to 61 countries
Visit Wise

2. TorFX – Best for business features

TorFX offers personal and business accounts, with excellent functionality for the latter. In addition, combining mass payments and forward contracts means that businesses can set up a system that improves the efficiency of running a company.

TorFX does not charge a fee for money transfers, which is excellent when you want to send money to a business account without losing funds. However, they charge a markup percentage of 1-3% for currency conversions. You will need to check the currency pairs you are interested in for more details on the FX rates you will enjoy.


Business-friendly features like mass payments and forward contracts
No transfer fees
Multi-currency support of over 60 currencies


Costly smaller transactions
Limited transfer payment options
Visit TorFX

3. Currencies Direct – Best for flexible payment solutions

Currencies Direct offers businesses a way of setting up payments that empowers them to get the best FX rates and automate recurring money transfers. With tools like peer-to-peer transfers and forward contracts, businesses can enjoy a financial infrastructure that puts them in the best position to succeed.

Account-holders will receive a multi-currency account that provides them access to over 60 currencies. Also, there are no transfer fees, and the FX rates are competitive. Therefore, Currencies Direct helps international businesses save money when sending money.


Multi-currency account with over 60 currencies
No transfer fees
Business finely features like forward contracts


Limited payout options
Limited African currencies
Visit Currencies Direct

What to consider when transferring money from a personal account to a business account?

You must check a few boxes when sending money from your personal account to the business one. This ensures that the transaction is legal and puts your business in the best position to succeed. Revisit this section to ensure you are not missing any vital steps in sending money to your business account.

  • Keep a record of transfers: it is vital to keep a record of the transaction when sending money from a personal account to the business one. This is required for tax purposes and for keeping track of loans. Therefore, you will know what amount to send back to the personal account once you want to repay the loan. Specialist transfer providers like Wise offer a robust system for keeping a record of transactions and the search functionality to find relevant ones quickly.

  • Use references for bookkeeping: it is a good idea to find an accountant that can keep track of your transactions. Also, they can advise you on how much money to send if you want to invest in the business using personal funds. However, finding a trustworthy accountant can be a time-consuming process, so pay attention to reviews.

  • Taxes: you must be aware of the tax implications of sending money from your personal account to the business one. The nuances of the amount sent and business type will differ for each country. You can outsource the problem to a tax accountant, who can help you deal with tax-related issues regarding this transfer type.

  • Transfer amount: most businesses are like a black hole regarding investment funds. All money sent will have a use for something, whether it is to buy more stock or upgrade specific aspects of a business. However, you need to consider the amount you can invest from your personal account. After all, if you cannot pay the bills and living expenses, running a successful business can be stressful.

  • Money transfer service: you need to choose the money transfer company that will facilitate the transfer. Ideally, pick a service that provides low fees, matches the mid-market rage, and offers fast processing times. Companies like TorFX, Currencies Direct, and Wise are great examples.

How to transfer money from a business account to a personal account?

You may also want to transfer funds from your business account to the personal one. This might be to pay back a loan, to pay yourself dividends, or to pay yourself a salary. To complete the process, simply log into your business account and enter your personal account details. Next, enter the amount you wish to send and the currency you want to transfer the funds in.

Make sure to keep a record of the transaction to account for taxes that must be paid for the transfer. Again, your tax accountant can help you with this process.

Summary: How to transfer money from a personal account to a business account

To conclude, business owners have many options for sending money to their business accounts from their personal accounts. Make sure that you record transactions, consider taxes, and consider the amount you can afford to send. The best money transfer services we recommend for sending money to the business account include Wise, Currencies Direct, and TorFX.

We encourage our readers to continue researching business transfer on our website. You can start with Understanding Foreign Exchange Risk and Top 5 FX Partners for International Business Transfers. Reading these guides will help you improve the efficiency of international business transfers for your company.

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Artiom Pucinskij
Artiom Pucinskij
Artiom is a marketing graduate from the University of Portsmouth, Artiom’s primary experience is in SEO but he has a broad knowledge of all facets of digital marketing. He optimises the organic experience on MoneyTransfers.com with the content team, manages and creates unique marketing tactics, and generally supports the overall growth of the website.