Hi, Supertramp. A personal checking account should work fine for now, but be sure to set up an LLC or corporation with its own business accounts once you start getting sales. You definitely want to keep your business and personal stuff separate, for taxes and liability among other things.
Where are you located? Aside from the above requirements, each region also has local specifications that must be adhered to. Please see the Help Doc Bank account requirements for Shopify Payments to determine what’s needed for where you are.
Hope this helps! If you have other questions, or need further clarification on anything, please let me know.