Co-mingling business and personal

Posted By: vnbtulsa

Co-mingling business and personal - 09/11/13 07:40 PM

Are any of you allowing business and personal accounts to be co-mingled on the same internet login? If so, are you giving them transfer ability between the accounts.

The accounts have common ownership even though they are corporate (with TIN)
Posted By: rlcarey

Re: Co-mingling business and personal - 09/11/13 08:13 PM

The accounts have common ownership even though they are corporate (with TIN).

No - there is no way you can ensure that, as corporate stock is easily transferred unbeknown to the bank and ownership is not an issue when it comes to access to corporate accounts, it is access authority.

It never, ever is a good idea to let this happen, period.