IS it true you can use a ein

[Slicer 619]

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?

[mca]

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

[Tornado]

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?

[Tornado]

Anyone?

[Tornado]

MCA where are ya? help us out please.

[mca]

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?

[Tornado]

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.

[hairmetal4ever]

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.

Edited April 30, 2009 by hairmetal4ever

[mca]

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)