Understand the terms and conditions – The first thing that you need to do is read and understand the terms and conditions of the account. Most providers will provide you with an account summary, which outlines the key information about the account.
Set up an appropriate management system – Next, you need to set up an appropriate management system. This will help you to keep track of the account and manage your cash flow. You can use a spreadsheet or financial management software to keep track of your account. Alternatively, you can use an online account management tool to manage your account.
Make regular deposits – You need to make regular deposits into your account, particularly if you are using it to store customer payments. If you only deposit money into the account when you receive it, it can quickly become depleted. Therefore, you need to make regular deposits to keep the account topped up.
