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#726690 - 05/04/07 01:31 PM Joint Accounts
ATLbanker Offline
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Joined: Sep 2005
Posts: 332
Georgia
Can an individual and an LLC open a joint account?

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#726696 - 05/04/07 01:35 PM Re: Joint Accounts ATLbanker
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Can they - sure. Do bank's usually allow it - no.
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#726841 - 05/04/07 02:50 PM Re: Joint Accounts rlcarey
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Such an account will not enjoy separate joint account status for FDIC insurance coverage purposes.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
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#726928 - 05/04/07 03:46 PM Re: Joint Accounts ATLbanker
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
It would also subject you and your customer to needless accusations of being fuzzy thinkers; e.g. how would survivorship provisions, levies, information reporting, etc. be handled? Just don't.
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