Question:
Open multiple current accounts on same company name ?
2008-03-29 08:40:22 UTC
Hello , is it allowed to open multiple current accounts (in different or same bank) on same company /firm name?
Six answers:
2008-03-29 09:34:00 UTC
Yes.



We have one at CharterOne and another at Chase under the same company name.



We will be opening a savings account at CharterOne when some contracts come through and after that, once our credit is a little better, we will attempt to get a line of credit with CharterOne or Chase as well.



A corporation is, legally, a PERSON.



A PERSON can open up 1 or a million bank accounts if they want to.



As long as you don't commit fraud with the accounts... You can do whatever you want.



I HIGHLY recomend getting an appointment with your Local SBA SCORE program. They are a mentoring program to help small businesses.



You can find your local SBA at http://www.sba.gov and look at all the programs and classes and other help that they provide FREE OF CHARGE.



Good luck!
buddemeyer
2016-11-12 15:48:01 UTC
Multiple Current Accounts
2008-03-29 08:59:05 UTC
In same Bank :-

Only one account may be permitted in same name and same style. Yet, multiple a/cs may be permitted with a very small variations, like : Collection a/c, PF a/c, Canteen a/c, Library a/c ... etc.



In different Bank/s:

There may be so many a/cs in different banks.... rather the Cos. in India do this for reason best known to them. ( Rider : they are to state where from they are enjoying loans and credits.)



Competitions amongst banks in India are the main enemy often and the Cos. find chances for that. The RBI may some time frame regulation/s for this so that monitoring may be done effectively by curbing the loop-wholes.
Jeanie
2008-03-29 08:50:01 UTC
Yes you can have multiple accounts in the same and or different banks. In US only $100,000 is insured in each bank. If you have more than that you need multiple accounts in different banks.
kunjunnykaravoor
2008-03-30 22:00:57 UTC
yes you can open

for example you have a project in newyork, for convenient you can open an account there in addtion to the head office current account
Nix
2008-03-29 08:52:31 UTC
no buddy!! its not possible to open many accounts on one name!!

in one bank!!

u can do it in diff banks!!


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