Results 1 to 4 of 4

Thread: Bank account with business name of sole proprietorship?

  1. #1
    Registered User
    Array
    French from 974's Avatar

    Join Date
    Feb 2018
    Location
    France - 974
    Posts
    7

    Default Bank account with business name of sole proprietorship?

    Hi all!

    Sorry for the mistakes I do, I am not an English-speaking person.

    When a Sole Proprietorship uses a business name which is different from one's family name, is it possible to open bank account with the business name ?

    Thanks.

  2. #2
    Web Consultant
    Array
    Join Date
    Aug 2008
    Location
    Las Vegas
    Posts
    9,794
    Blog Entries
    1

    Default

    If you've registered that business name as a DBA, maybe. Depends on the bank. In my experience the bank wants the account to be under the name that has paperwork which says that is it's designation by the state or local licensing.

    For instance you can't just call yourself "ACME Widgets" without any corresponding paperwork and open an account in that name.
    They will want to put it in your name.

  3. #3
    Registered User
    Array
    Join Date
    Mar 2015
    Location
    Beaver Falls, PA
    Posts
    888

    Default

    I would say it is possible. At least I have done it a number of times. You have to register the DBA with the state and pay a fee. Here you also have to advertise that you are using that name in two newspapers. Legally then you are Joe blow DBA Acme Widgets but you can just use the name Acme Widgets on checks, letterheads, promotions of any kind. You pay taxes as a sole proprietorship.
    Ray Badger, Turbo Technologies, Inc.
    www.TurboTurf.com www.IceControlSprayers.com

  4. #4
    Registered User
    Array
    Join Date
    Feb 2013
    Location
    Ontario, Canada
    Posts
    1,329

    Default

    Depends on the jurisdiction, but this is exactly what I did. The bank did require a copy of my business license (contains the name) before they would open the account.
    Brad Miedema
    Fulcrum Saw & Tool

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •