If you see large dollar transfers from a person's business account (an LLC) to a person's personal account, and then you see large AMEX payments on both accounts, would you consider that co-mingling funds?
Can a corporation sweep from a personal account? We say no but are checking what you think?
Should the owner of a sole proprietor business account cash checks made payable to him personally using the business account?
If only 1 person is 100% of the corporation can they name a POD on the checking account?
We have a question on garnishment/levies. If we receive one do we need to verify they do not have other accounts with the bank or does it go strictly off the account number in question? We have a trust department, wealth management area, etc.
My bank is getting ready to convert to a new online banking program. During this process, I have found that we have the option to allow some features as well as turn off others.
Should we allow business accounts to be viewed under the individual’s personal login? For example, Jane Doe has personal accounts at CNB. She also owns “Jane's Closet, LLC” and has her business accounts at CNB too. She has 100% ownership of the LLC. Would you allow Jane to see Jane's Closet’s account under her personal log in? If not, what are the reasons why you would not allow this?
Should a bank cash a check made payable to a corporation or any business?
Can two separate LLC entities registered in the same state open two separate bank accounts using the same DBA, if the state and county allowed them to both register that DBA? What are the risks associated with allowing this?
I have a question on the state registrations that we request from a business that is opening deposit accounts. We request the registrations for the business based on that states that they do business in. For example: a business registered in DE (but no office) but has an office that they operate out of in NH – we would request the businesses DE registrations & NH state registration as a foreign entity. We’re getting a little push back on this practice, and I’m hoping that someone can point me in the direction of if this is a regulatory requirement, or more of a business practice?
A stop payment on an LLC account has been requested. It's on an ACH item that is from the same company every month, usually the same amount every month but on occasion it will be a different amount. How long should this stop payment be good for? The account is a business account so it's not subject to Reg E.