[bostriba]

I have run into this scenario much too often where a merchant is conducting business via his/her personal account. 20% of my funding inquiries fall under this category. I can of course tell them to open a business account - but that does not help me or the merchant at that moment. Any ideas because I see this trend continue to increase due to internet businesses and the ease with which merchants can attach card processing to non-business accounts. Let me know if you've run into similar situations and/or have any ideas on this front.

[FUNd]

Maybe you are fishing in the wrong pond. Seems to me that any business with substantial revenues would typically use a business bank account. What would be the benefit to using a consumer account for business?

[Chambo]

I have run into this scenario much too often where a merchant is conducting business via his/her personal account. 20% of my funding inquiries fall under this category. I can of course tell them to open a business account - but that does not help me or the merchant at that moment. Any ideas because I see this trend continue to increase due to internet businesses and the ease with which merchants can attach card processing to non-business accounts. Let me know if you've run into similar situations and/or have any ideas on this front.

Personal accounts have more restrictions against ACH (see: Operation Choke Hold), so funders are super wary of them. Plus, how many of the deposits are actual business being done...and maybe a paycheck from an employer? Or a birthday check from Uncle Bob?

[Sean Cash]

Personal accounts have more restrictions against ACH (see: Operation Choke Hold), so funders are super wary of them. Plus, how many of the deposits are actual business being done...and maybe a paycheck from an employer? Or a birthday check from Uncle Bob?

ditto. Stay away from personal accounts. It damages the presumption that the merchant is acting in a commercial capacity.