HELP! How do I set up a bank account for a new business!

Wkemp1 · 11-05-2009, 06:28 AM

I would like to know what credentials and everything in general i'd need to get a bank account set up for a new business I created.

LSnyder · 11-05-2009, 09:41 AM

That sounds like a scam to me.

rogercbryan · 11-05-2009, 04:07 PM

To get a business bank account you will need a tax id number S-4 form.. Most banks will require articles of incorporation if you want to deposit checks in the name of that business. Thank the Patriot Act for this...

peteVA · 11-05-2009, 05:24 PM

That depends on where you are. If you are in Thailand it may be different than Turkey, which may be different from Mexico.

So giving a location would be a first step.

Wkemp1 · 11-05-2009, 06:11 PM

I am in the united states and I am a 18 yr. old college student. I'm trying to start a bank account for a new business.

Wkemp1 · 11-05-2009, 08:38 PM

I have recently looked at the articles of incorporation and it seems like you need an office with an address. I am starting a NON PROFIT business based mostly from online and mail donations that are sent to an aid effort in struggling african countries. I am creating this business would like help starting this all up. Who do I need to talk to?

dropship · 11-06-2009, 12:13 AM

Incorporating varies by state. I just found a a resource you might want to check out: Starting a Nonprofit Organization

Good Luck

rogercbryan · 11-06-2009, 03:30 PM

Quote:

Originally Posted by Wkemp1

I have recently looked at the articles of incorporation and it seems like you need an office with an address. I am starting a NON PROFIT business based mostly from online and mail donations that are sent to an aid effort in struggling african countries. I am creating this business would like help starting this all up. Who do I need to talk to?

Did you complete your S-4, Incorporation, 501c3, Soliciting License (for each state you want to take donations in), business license, and Bonds? Yes, you need to do EVERYONE of those things before you can collect your first dollar. Most states require a $10,000 bond to work as a non-profit. Before you even think about a non-profit make sure you have done all of the above or you will be breaking the law.

Wkemp1 · 11-06-2009, 04:29 PM

Do I have to go through all of this for a for profit business? I am a college student and cannot afford all of those expenses. What exactly do I need to get a bank account with a business's name on it?

rogercbryan · 11-06-2009, 04:46 PM

Quote:

Originally Posted by Wkemp1

Do I have to go through all of this for a for profit business? I am a college student and cannot afford all of those expenses. What exactly do I need to get a bank account with a business's name on it?

In the US you will need to Incorporate and get a new Tax ID number. Once you have the articles of Incorporation any bank will give you an account.

Wkemp1 · 11-06-2009, 04:53 PM

How do I obtain those things? If you could explain everything i'd need I have never done anything of this sort before.

rogercbryan · 11-06-2009, 04:55 PM

LegalZoom: Online Legal Document Services: LLC,Wills,Incorporation,Divorce & More is the easiest way...

Other then that Google it... It is a simple process when you do a little research (Incorporating that is)

Wkemp1 · 11-06-2009, 06:18 PM

I like the way legalzoom works. Would I file for a non-profit corporation if I am starting this to give money to a school in Zambia. I will not donate 100% of the funds so I can cover some expenses to maintain upkeep and other various expenses. Should I file for Non- Profit or a Profit business?