A company account is any type of bank account that is used by corporations and businesses. A company account is usually a checking or other type of demand deposit account, meaning the money can be withdrawn at any time.

How Company Accounts Work?
Company accounts typically have higher monthly service charges and other related fees than retail accounts. Retail accounts are part of consumer banking or personal banking and are serviced online or at a local branch. Companies that have company banking accounts usually have a business representative assigned to them. Some company banks have specific relationship managers that service large corporations, midsize businesses, and small businesses separately.