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You can create up to five checking accounts within your Karat Banking organization. Multiple accounts help you separate funds by purpose, such as operations, marketing, or payroll, while keeping everything accessible from a single dashboard.

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Who can create accounts

Only organization admins can create additional checking accounts. Team members with other roles can view and transact from accounts they have access to, but cannot create new ones.

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Creating a new checking account

  1. Go to Banking and click Create account next to the Move Money button.
  2. Enter a name for the account (up to 24 characters), such as “Operations” or “Marketing.”
  3. If you have Automatic Tax Planning (ATP) enabled, choose whether income deposited into this account should be included in your tax savings allocation.
  4. Click Create account.
Your new account appears in the accounts list and has its own account and routing numbers. You can start using it immediately. Your Banking dashboard includes an Overview that shows the combined balance across all accounts, along with a list of each account and its individual balance. Click any account to see its transactions, cards, and details. Each account view includes the same tabs you see on the main Banking page, including statements and cards associated with that account.

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Funding a specific account

When you add money through Move Money > Add money, you can choose which checking account should receive the funds. If you have more than one checking account, you’ll be prompted to select the destination before completing the transfer. You can also set up direct deposits to any of your accounts using the account and routing numbers shown on the individual account page.

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Transferring between accounts

To move funds between your checking accounts (or between a checking account and your ATP account), go to Banking > Move Money > Send Money > Internal Transfer. Select the source and destination accounts, enter the amount, and confirm. Internal transfers are processed immediately.

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Cards and accounts

Banking Cards are linked to a specific checking account. When issuing a new card, you choose which account the card draws from. Each card’s spending is reflected in the transactions of its associated account.

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Automatic Tax Planning with multiple accounts

If you have ATP enabled, you can choose which checking accounts contribute to your tax savings. When creating a new account, select whether to include it in ATP. You can also update which accounts are included when adjusting your ATP settings. Karat is a financial technology company, not a bank. Banking services provided by Grasshopper Bank, N.A., Member FDIC. The Karat Visa® Business Credit Card is issued by Cross River Bank, Member FDIC, and pursuant to a license from Visa️ USA.