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#696334 - 03/05/07 04:47 PM Two DBAs depositing into one account?
ComplyOhMy Offline
Platinum Poster
Joined: Dec 2005
Posts: 514
Lexington, Kentucky
We have a customer that has one DBA account with us however he makes deposits from two businesses into the account. Both are owned by him and of the same nature business. Since the DBAs are both under his TIN, is it ok for him to deposit checks made out to both businesses into an account with only one of the businesses name on it?

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Deposits and Payments
#696345 - 03/05/07 04:53 PM Re: Two DBAs depositing into one account? ComplyOhMy
TaraHay Offline
Junior Member
Joined: Jan 2007
Posts: 45
I believe you should add the other business name to the account as well (if your bank is willing to do that.) You could also take the stand that they need to open a separate account for the separate business.

Do you have documentation that the customer is registered to do business under each of those names?

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#697239 - 03/06/07 05:22 PM Re: Two DBAs depositing into one account? TaraHay
Outcast Kitty Offline
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Joined: Feb 2007
Posts: 215
Where the sunsets are breathle...
When you have a DBA account, checks made payable to the person (owner) or to the business can be deposited into that DBA account. I would not deposit checks made payable to another business into the account. He should be required to open another account for the other business.
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#697487 - 03/06/07 08:55 PM Re: Two DBAs depositing into one account? Outcast Kitty
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Whether your bank will permit the additional business to share the account is a matter for your bank's policy. There's no legal requirement one way or the other. Your customer would obviously prefer to have only one account and one monthly service fee. That may not be in your bank's best interest, however.
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