If I have a problem getting a business checking account because of a business credit problem, could I use a securities brokerage account (like Schwab or Fidelity) to open a business account? Will they check my credit first? I know they usually require a $500 minimum for all checks written, but that is not a problem. How much checking do they do when you open up a brokerage account? If someone writes a check to my business, could I endorse the check and put it into the securities account, or would I have to run it through a regular banking account first?
My company has a product called a premiere account. Requires a $10,000 dollar deposit and annual fee of $175 dollars. It is a straight up business checking account with no credit check. You can write checks for as little as .01. You also get a debit card.
