Sunday, December 4, 2011
Can I cash a check made out to me and my newly formed LLC without having a business account? It is from B of A
I am just filing my LLC with the state of Calif. and am visiting in NC. I have received my first check from consulting and it is made out first to my LLC which comprizes only of me, and to myself just beneath. Can I go to a Bank of America and cash it since it was issued from there? My partner tried depositing it in our joint checking at Wells Fargo and they would not let him...What can I do?|||First you file your LLC then open a business account in any bank then deposit the cheque. As you mentioned-the cheque is made in the name of your LLC then you MUST have a bank account in the name of LLC. You cant even discount the cheque .|||If your check is made payable to a business entity, you will need to open a business account to cash it. Under UCC regulations, an individual cannot negotiate an instrument payable to a non-individual.
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