Yes, if you open up the account in your name, you will liable for any chargebacks or other debts.Common practice, if the business is an LLC or corporation, is for it to be opened up in the business's name, possibly guaranteed by an owner or member of the company (not just an employee) if the company is seen as too new, too small, or too speculative and therefore a bad risk; or if the company is a sole proprietorship or partnership, one of the owners should open it in his/her name.