MichaelRoss
March 30, 2007, 06:01 AM
Dien,
Thanks for mentioning this.
Here's how it works in Australia...
If you open a bank account in YOUR NAME you can Add Registered Business Names as payees, because Businesses are "Your Name Trading As" names. Doing it this way you can Add as many registered business names to YOUR NAME ACCOUNT as you like. And receive checks written to those names. You must also show your business registration to the bank to Prove the business exists.
BUT...
If you opened the account as Wisdom Media you cannot accept Wisdom Films checks unless Wisdom Films is registered as Wisdom Media Trading As Wisdom Films - which is NOT possible for a Business Name, but is possible for a company.
Clarification can be had by speaking with your bank - the business section.
Michael Ross
Thanks for mentioning this.
Here's how it works in Australia...
If you open a bank account in YOUR NAME you can Add Registered Business Names as payees, because Businesses are "Your Name Trading As" names. Doing it this way you can Add as many registered business names to YOUR NAME ACCOUNT as you like. And receive checks written to those names. You must also show your business registration to the bank to Prove the business exists.
BUT...
If you opened the account as Wisdom Media you cannot accept Wisdom Films checks unless Wisdom Films is registered as Wisdom Media Trading As Wisdom Films - which is NOT possible for a Business Name, but is possible for a company.
Clarification can be had by speaking with your bank - the business section.
Michael Ross
