 IS it true you can use a ein |
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 Apr 3 2009, 09:34 PM
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#1
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Group: Members
Posts: 110 Joined: 9-July 07 Member No.: 53,832  |
My friend got a EIN to open a bank account (he's on check system). Is this true you can do this legally useing you an LLC and being a offier.. ie cfo ceo ect? He said hes done it.. But im not sure if its legal?
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| Googie |
Apr 3 2009, 09:34 PM
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The MoneyMaker
Group: Accounting
Posts: One in Every Topic Joined: 1-February 03 From: Mountain Home, CA Member No.: 1 |
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Apr 4 2009, 09:49 AM
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#2
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Lead - Chexsystems Help Forum
Group: Members
Posts: 866 Joined: 9-May 03 Member No.: 775 |
yes there are some banks ( not all) that will only run the business through chexsystems when opening an account. It just depends on which bank
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Apr 14 2009, 09:23 PM
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#3
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Group: Members
Posts: 1,029 Joined: 9-March 05 Member No.: 14,229 |
I am in the same situation. I am about to start a legitimate LLC with and Tax ID #. Do you know any banks that ONLY run the business and not its partners/officers?
9/21/06 FICO TU 630 EQ 579 EX 616
4/05 New Millenium VISA $400 (Secured) 4/05 New Millenium MC $400 (Secured) 5/05 BofA US Airways VISA $500 (Partially Secured) 4/06 Merrick Hooters $5K 5/06 New Home Mortgage $570K (PAID OFF) 5/06 Walmart $230 5/06 Dillards $150 9/06 Macy's $600 -> $1400 9/06 Bloomingdales $1k -> $1200 8/06 Joined USAA (No CC Products yet) 12/06 Joined JFCU (Primary Checking Acct, No CC Products yet) 1/08 Joined NFCU (No CC Products yet) 2/08 Citi Diamond $25k (AU) |
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Apr 15 2009, 11:51 PM
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#4
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Group: Members
Posts: 1,029 Joined: 9-March 05 Member No.: 14,229 |
Anyone?
9/21/06 FICO TU 630 EQ 579 EX 616
4/05 New Millenium VISA $400 (Secured) 4/05 New Millenium MC $400 (Secured) 5/05 BofA US Airways VISA $500 (Partially Secured) 4/06 Merrick Hooters $5K 5/06 New Home Mortgage $570K (PAID OFF) 5/06 Walmart $230 5/06 Dillards $150 9/06 Macy's $600 -> $1400 9/06 Bloomingdales $1k -> $1200 8/06 Joined USAA (No CC Products yet) 12/06 Joined JFCU (Primary Checking Acct, No CC Products yet) 1/08 Joined NFCU (No CC Products yet) 2/08 Citi Diamond $25k (AU) |
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Apr 23 2009, 05:34 PM
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#5
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Group: Members
Posts: 1,029 Joined: 9-March 05 Member No.: 14,229 |
MCA where are ya? help us out please.
9/21/06 FICO TU 630 EQ 579 EX 616
4/05 New Millenium VISA $400 (Secured) 4/05 New Millenium MC $400 (Secured) 5/05 BofA US Airways VISA $500 (Partially Secured) 4/06 Merrick Hooters $5K 5/06 New Home Mortgage $570K (PAID OFF) 5/06 Walmart $230 5/06 Dillards $150 9/06 Macy's $600 -> $1400 9/06 Bloomingdales $1k -> $1200 8/06 Joined USAA (No CC Products yet) 12/06 Joined JFCU (Primary Checking Acct, No CC Products yet) 1/08 Joined NFCU (No CC Products yet) 2/08 Citi Diamond $25k (AU) |
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Apr 25 2009, 01:27 PM
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#6
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Lead - Chexsystems Help Forum
Group: Members
Posts: 866 Joined: 9-May 03 Member No.: 775 |
hi tornado, sorry for the delay, I have not been so well lately. it really depends on where you live.. where are you exactly? zip code?
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Apr 29 2009, 04:55 PM
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#7
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Group: Members
Posts: 1,029 Joined: 9-March 05 Member No.: 14,229 |
QUOTE (mca @ Apr 25 2009, 11:27 AM)  hi tornado, sorry for the delay, I have not been so well lately. it really depends on where you live.. where are you exactly? zip code? Hi MCA I am in Los Angeles, CA. I live in 90056, have a business office in 90035. I need to setup bank accounts at a national bank. Was thinking Wells Fargo or BofA. I am in Chex because of BofA. Disputing it now. Considering writing Ken Lewis. 9/21/06 FICO TU 630 EQ 579 EX 616
4/05 New Millenium VISA $400 (Secured) 4/05 New Millenium MC $400 (Secured) 5/05 BofA US Airways VISA $500 (Partially Secured) 4/06 Merrick Hooters $5K 5/06 New Home Mortgage $570K (PAID OFF) 5/06 Walmart $230 5/06 Dillards $150 9/06 Macy's $600 -> $1400 9/06 Bloomingdales $1k -> $1200 8/06 Joined USAA (No CC Products yet) 12/06 Joined JFCU (Primary Checking Acct, No CC Products yet) 1/08 Joined NFCU (No CC Products yet) 2/08 Citi Diamond $25k (AU) |
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Apr 29 2009, 10:36 PM
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#8
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Group: Members
Posts: 1,735 Joined: 22-February 08 From: Maryland Member No.: 69,211 |
QUOTE (Slicer 619 @ Apr 3 2009, 10:34 PM) My friend got a EIN to open a bank account (he's on check system). Is this true you can do this legally useing you an LLC and being a offier.. ie cfo ceo ect? He said hes done it.. But im not sure if its legal? Theoretically, yes, but it has to be a business account. However, for an LLC that has ostensibly one owner, many banks still run a Chexsystems on both the EIN and the SSN of the owner, who is the signer on the account. This post has been edited by hairmetal4ever: Apr 29 2009, 10:36 PM  |
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Apr 30 2009, 10:16 PM
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#9
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Lead - Chexsystems Help Forum
Group: Members
Posts: 866 Joined: 9-May 03 Member No.: 775 |
CA is the absolute hardest state when trying to find a non-chex banks. Yo0u might want to try Wells of BOA if you are not reported to EWS.
They will check for EWS regardless of what type of account you open and if you are reported at all, they will close it Early Warning Services is a limited liability company owned by Bank of America, BB&T Corporation, JPMorgan Chase, Wachovia, and Wells Fargo. (most reported to chexsystems are also reported to EWS) |
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