What merchant funds a business that uses personal bank account
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  1. 04-14-2017, 06:02 PM #1
    Yankeeman07
    Yankeeman07 is offline
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    Quote Originally Posted by FCG View Post
    Thats usually how a sole prop is ran .. they can use their SSN as their EIN#
    You may want to update yourself on the IRS Regulations - my understanding is you may run as a Sole Prop - but you must use your name for the EIN#

    BTW, did our mystery poster respond to anyone? Just curious
    Dave Lambert, Business Development
    dave@fcbankcard.com
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  2. 04-17-2017, 01:58 PM #2
    BB_Cooper
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    The problem with personal accounts is the NACHA chargeback rules that allow for 90 days of chargebacks, unlike a business account.
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  3. 04-17-2017, 04:43 PM #3
    FCG
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    Quote Originally Posted by Yankeeman07 View Post
    You may want to update yourself on the IRS Regulations - my understanding is you may run as a Sole Prop - but you must use your name for the EIN#

    BTW, did our mystery poster respond to anyone? Just curious
    nope.
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