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Slicer 619

Business Checking?

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Does anyone have a business bank account and in chex system on the personal side.

They ask for SSN when you apply for a business checking account. I've never ran problems opening a Business Checking Account and or worrying about the bank pulling my SSN with bad credit, I was just Wondering if anyone has and what the law is surrounding opening a business checking account with bad credit

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Ditto BRBIZ.

 

In accordance with the US Patriot Act, they may not run Chex on the owners, but will simply verify the SSN and/or EIN are valid numbers.

Since the CRAs are online with the IRS and Social Security Admin, this is a quick check.

Freezing is a possible temporary fix. Once unfrozen, Loss Prevention may then run the Chexsystems report.

 

Ensure you or the business are not listed in Early Warning Services (EWS). Depending on the size of the bank, this may be a deal breaker. Some of the smaller banks do not use EWS.

 

Early Warning Services

Reports available via snail mail only.

*Sometimes when you call, they will tell you over the phone if you have a negative listing.

https://www.earlywarning.com/consumer-information.html

Edited by tmcgill

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Great stuff Gill Great stuff, that's exactly what I was wondering. Thanx everyone, and a special thanks for your "Not" comment Blake 10...

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