Skip to content

Online Transfers between Business Accounts

Answered by: 

With all the new advances in online banking, what are the rules concerning online banking transfers between two business accounts (corporate, LLC, partnership) with two different tax ID numbers, but both are owned by the same person?

There aren't any rules covering such transfers, other than those that generally cover online banking transactions between two separate persons or entities. Generally speaking, if a bank permits a business to initiate an electronic transaction (ACH or wire transfer, for example) to another business, it would allow such transfers even if the businesses in question are owned by the same person.

Banks generally don't permit online transfers (other than ACH or wire transfers) between separate entities, even if commonly owned.

First published on 9/27/10

First published on 09/27/2010

Filed under: 
Filed under technology as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics