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#1413700 - 07/09/10 10:06 PM LLC and debit cards
Anonymous
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Should members of an LLC be issued debit cards?

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#1413720 - 07/09/10 10:37 PM Re: LLC and debit cards Anonymous
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
That is totally up to the bank to decide. Make sure you are authorized to issue business debit cards and you have the proper business debit card disclosures. You don't want these covered under the consumer rules.
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#1414071 - 07/12/10 09:07 PM Re: LLC and debit cards rlcarey
OnTheEdge Offline
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Joined: Apr 2002
Posts: 1,677
SmallTown, USA
Richard, what type of authorization is needed? Visa/MC?
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#1414107 - 07/12/10 10:27 PM Re: LLC and debit cards OnTheEdge
BetsyS Offline
Gold Star
Joined: Jun 2009
Posts: 471
Both Visa and MasterCard require seperate BINs for consumer and business cards. We have both, and as Richard suggests, have different disclosures and agreements for each. Your Visa or MC Customer Service Rep. should be able to help you.
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#1414122 - 07/13/10 12:25 AM Re: LLC and debit cards BetsyS
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,293
Businesses, including LLCs, are routinely issued debit cards. I would not bank somewhere that did not provide debit cards for the signers on my LLC accounts. I would find another bank that allowed us access to our funds. We use it to pay for postage, to purchase office supplies, and many other business expenses when we do not want to use a credit card.
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Kathleen O. Blanchard, CRCM "Kaybee"
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#1414309 - 07/13/10 03:53 PM Re: LLC and debit cards Kathleen O. Blanchard
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 40,086
Cape Cod
Just for the record, RCarey's name in Randy, not Richard.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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#1414465 - 07/13/10 07:44 PM Re: LLC and debit cards John Burnett
BetsyS Offline
Gold Star
Joined: Jun 2009
Posts: 471
I knew something didn't seem right when I added to OnTheEdge's post! crazy
My apologies Randy!
Last edited by BetsyS; 07/13/10 07:44 PM.
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