Does type of bank account really matter?

I need to separate out my business expenses. As I figure this all out I am working as a contractor and have run all finances through my personal/family checking account. It is time I separate this out.

My question is, does it matter what type of account I open? It seems a simple online checking account will meet most of my needs today. I then see there are business type accounts. Does it really matter? Perhaps it doesn't until I actually establish a separate business, tax id, etc.? It seems a pragmatic approach here is fine. Looking forward to your feedback. Thank you!