Does anyone know what it takes to open a business bank account? If I have a EIN from the IRS, would a bank also want ss#'s to open a business account! We(hubby and I) are listed on Chexststems for an account that has been paid, but it did give us trouble when opening a personal account! I have ordered a copy of our chexsystems report and plan to dispute it. So, do they use JUST the EIN or the EIN and the ss# to open a business account?? Thanks!
You will also have to file a DBA with your Secretary of State's office. This will probably cost somewhere in the neighborhood of $25.00 DBA means Doing Business As Lets you do business under an assumed name
I just went through chex hell. I disputed and no one verified within 30 days, I called chex to see if it was then deleted, they said a rep from chex called the banks on day 32 to verify so they wont remove, I then talked to a supervisor and told them they are violating the law for not removing on 30th day and I reported them(and told them I did), so they removed items but said it will be put back on as soon as those banks find out it was deleted (they send them info stating what is being removed) so I had a day or two with a clean report and went and opened 2 accounts at 2 different banks, so even though it will be put back, I got my accounts opened and I plan to use them wisely, I have really learned my lesson, they are tough. Good luck!
Chief...is that different than the articles of corpartaion that I file with the sec of state's office?? They didn't tell me about that!
You only file a DBA if the name you operate the business under is different than the corporate name. In other words, if the corporate name is XYZ corp, and you do business under that name , then no need to file a DBA. But if the corporate name is XYZ Corp. and you operate the business under the name Road Kill Cafe, you have to do the DBA. That is so when someone wants to sue you, they can find the real name.
If you filed articles of incorporation then you do not need to do a DBA unless you want to open another new company doing business under the original corporate name. A corporation is a separate legal person just as you are only it is not a human being, of course. But it is a legal entity in the same sense you are. A dba is a permission to do business under another name only but has nothing to do with incorporation
I just opened a new business account. The use the EIN and your social. The lady called Chexsystems while we were sitting there. As far as the DBA, some banks will file it for you as part as their business banking service. Happy Banking! Bobbi
Give us more info.. Are they reporting an NSF entry for you from someone else's checking account? How did your SSN get tied in with their check? Have you tried disputing w/ CHEX yet? With the bank? jmart
Yes The creditor that received The check has my SSN. Who actually reports a bounced chech to Chex.? Is it the Person or Co. that you gave the check to or is it the bank that the check was drawn on. Or is it both of them?
The company that got the check will usually report to the check verification service they use like Telecheck. They bank that it is drawn on will also report it if it creates a negative balance on the account. Now is it a business check or someone else's personal check with your SSN on it? ChexSystems are a bunch of crooks. They're 10 times worse than EQ, EX, and TU put together. The only way to remove something from their report is to get the bank to do it or take them to court. I think Chex has an ongoing conspiracy with all the banks they service. They both agree to screw people over by ignoring and "validating" all disputes they get.
What is your question? Was it your check? If so, and it bounced, then it's reported correctly. Dispute and hope it isn't verified.. Both companies and banks report to Chex. For example, if you were to bounce a check @ Target, they might report you for the NSF, even after it's paid off.. Or if you have excessive NSFs, your bank can put a 'NSF Activity' entry on your Chex report. jmart
How did a check that wasn't yours end up on your CHEX report? Was it a family member or spouses, or are you clueless? I'd suggest you call Target's corporate office, or write them a planet feedback letter. A check that isn't yours is incorrect informatino, and it is unlawful to report incorrect credit information.. Bounced Check, NSF, and Insufficient Funds all mean the same thing. The check is returned to the payee from their bank unpaid due to the payer's account not having sufficinet funds in it. jmart
