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Business banking account help - Needed info
Posted on 10/24/16 at 4:39 pm
Posted on 10/24/16 at 4:39 pm
Just opened up a business bank account at Campus Federal (both personal and business account). I asked when opening the account if I could remote deposit checks and they said it wasn't a problem.
A month into having this account and they can only remote check deposit on the personal account and not the business account. Does anyone know of a business account that this can be done?
TIA.
A month into having this account and they can only remote check deposit on the personal account and not the business account. Does anyone know of a business account that this can be done?
TIA.
5
Posted on 10/24/16 at 5:03 pm to CajunInFL
I have Wells Fargo, and would move all four of my accounts if I didn't have so many things coming in and out of them.
But, you could always deposit in your personal then transfer to your business. Can you not do this?
But, you could always deposit in your personal then transfer to your business. Can you not do this?
Posted on 10/24/16 at 5:11 pm to CajunInFL
Don't know of them specifically.
In general, you can mobile deposit a business account if its a disregarded entity (you're the only owner) and their agreements allow it. Multiple owners have additional layers of risk that can't currently be controlled.
Business accounts with multiple owners can remote deposit by purchasing a machine from the institution (or if your account is profitable enough, probably get it for free).
In general, you can mobile deposit a business account if its a disregarded entity (you're the only owner) and their agreements allow it. Multiple owners have additional layers of risk that can't currently be controlled.
Business accounts with multiple owners can remote deposit by purchasing a machine from the institution (or if your account is profitable enough, probably get it for free).
Posted on 10/24/16 at 5:13 pm to BamaCoaster
quote:
But, you could always deposit in your personal then transfer to your business. Can you not do this?
Mixing business and personal funds is a terrible idea, even if you are the sole owner of the business.
Posted on 10/24/16 at 5:15 pm to CajunInFL
quote:
Does anyone know of a business account that this can be done?
Most business accounts allow remote deposit, however, it's not the snap a check on your phone type, it's using a remote deposit machine and service.
I'll be honest - while credit unions tend to be GREAT for personal banking, I find them lacking with business banking.
Posted on 10/24/16 at 5:33 pm to BamaCoaster
quote:
you could always deposit in your personal then transfer to your business.
Yeah, I wouldn't do that in a million years.
Posted on 10/24/16 at 5:59 pm to BamaCoaster
quote:
I have Wells Fargo, and would move all four of my accounts if I didn't have so many things coming in and out of them.
But, you could always deposit in your personal then transfer to your business
Just open the accounts and then start move the ACHs gradually as they come up.
Posted on 10/24/16 at 7:08 pm to CajunInFL
Capital one lets me deposit into my business account by phone picture but just for small stuff.
Think the limit is 10k per month
ETA: regions and Iberia both with sell you a check scanner connected to your computer to make deposits with no limit
Think the limit is 10k per month
ETA: regions and Iberia both with sell you a check scanner connected to your computer to make deposits with no limit
This post was edited on 10/24/16 at 7:10 pm
Posted on 10/24/16 at 9:12 pm to BamaCoaster
Like mentioned, I'd rather not go that route. We aren't talking a lot of checks 5-10 per month, maybe? Just a hassle to have to go to the bank when I could just deposit from my phone.
Thanks for the info everyone.
Thanks for the info everyone.
Posted on 10/24/16 at 9:49 pm to CajunInFL
Chase
Posted on 10/24/16 at 10:19 pm to CajunInFL
If you ever go the check scanner route, be sure you have all the info. Some banks make you buy the scanner outright, then you have to upgrade your account to an analyzed account. With what they pay in earnings credit on these accounts, it can get very expensive for a small business.
Some banks allow the photo image deposit with a limit, like someone mentioned earlier. Like all things, that limit can be increased with time and experience/comfort level with said bank.
Some banks allow the photo image deposit with a limit, like someone mentioned earlier. Like all things, that limit can be increased with time and experience/comfort level with said bank.
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