Can anyone tell me what the advantages are of opening a sole prop bank account as apposed to an account in your personal name and just using it as a business account...ie Elite account for R100 per month.

I am told that the reason i should open an account as a business and not in my personal capacity is because i will pay more tax.

As a sole prop i am my business and everything to do with my business falls back on me personally at the end of the day.