Im about to open my own auto insurance agency sole proprietor. No employees,=
just me as owner. I recently went to the bank to open a Business Checkings a=
nd a Business Savings account. I also opened a personal checkings account on=
the side, just in case.
Now, can i use these 2 Business accounts, but only change the NICK names to r=
ead TRUST account and the other to read Operating account? And manage it lik=
e that?
Or do i need to close these Business accounts and open a real trust account a=
nd a real operating account?
Please let me know as soon as possible, thank you.
Im about to open my own auto insurance agency sole proprietor. No employees,=
just me as owner. I recently went to the bank to open a Business Checkings a=
nd a Business Savings account. I also opened a personal checkings account on=
the side, just in case.
Now, can i use these 2 Business accounts, but only change the NICK names to r=
ead TRUST account and the other to read Operating account? And manage it lik=
e that?
Or do i need to close these Business accounts and open a real trust account a=
nd a real operating account??
Please let me know as soon as possible, thank you.
I’m in the same boat, starting a personal lines agency, as a sole proprietor. I was wondering what you ended up doing with the accounts? I was going to use the same setup you described, the checking for premiums (fiduciary responsibility), and the savings for operations. What did you end up doing? Any info would be awesome, thanks! I hope the agency is going well for you.
Yea im in business now … just open up two business checkings accounts… and change the nick names on the checks.. to read Trust Account.. the other Operating account…. the trust only use it for policy transactions and monthly payment sweeps… thats it.. the operating use iy to make purchases inventory. marketing.. gas.. pay bills..ect..
Im about to open my own auto insurance agency sole proprietor. No employees,=
just me as owner. I recently went to the bank to open a Business Checkings a=
nd a Business Savings account. I also opened a personal checkings account on=
the side, just in case.
Now, can i use these 2 Business accounts, but only change the NICK names to r=
ead TRUST account and the other to read Operating account? And manage it lik=
e that?
Or do i need to close these Business accounts and open a real trust account a=
nd a real operating account?
Please let me know as soon as possible, thank you.
Im about to open my own auto insurance agency sole proprietor. No employees,=
just me as owner. I recently went to the bank to open a Business Checkings a=
nd a Business Savings account. I also opened a personal checkings account on=
the side, just in case.
Now, can i use these 2 Business accounts, but only change the NICK names to r=
ead TRUST account and the other to read Operating account? And manage it lik=
e that?
Or do i need to close these Business accounts and open a real trust account a=
nd a real operating account??
Please let me know as soon as possible, thank you.
Hey Alex,
I’m in the same boat, starting a personal lines agency, as a sole proprietor. I was wondering what you ended up doing with the accounts? I was going to use the same setup you described, the checking for premiums (fiduciary responsibility), and the savings for operations. What did you end up doing? Any info would be awesome, thanks! I hope the agency is going well for you.
Yea im in business now … just open up two business checkings accounts… and change the nick names on the checks.. to read Trust Account.. the other Operating account…. the trust only use it for policy transactions and monthly payment sweeps… thats it.. the operating use iy to make purchases inventory. marketing.. gas.. pay bills..ect..