No company can thrive without a bank account. Due to regulatory difficulties, opening bank accounts, especially for freshly incorporated entities, is complicated and time consuming. Due to lack of compliance and technical experience, most of the entities struggle to open bank accounts, but eventually either fail or waste their time which can be detrimental for the fresh startups. Since, freshly established enterprises can't expand their business without a bank account therefore, the founders have to bear financial and business loss as well.
