[Theforum] bank accounts (was: treasurer duties)

spinhead evolt at spinhead.com
Wed Jan 9 13:50:51 CST 2002

Thanks for digging this up, amanda.

> > 1. Create a "DBA" ("Doing Buisness As") account, which is basically a
> > less official business account. He said we would have the account
> > under *both* my name and evolt.org, with additional people assigned
> > as having access. Since we're working towards NFP status they would
> > wave any fees associated with the account.
> >
[ . . . ]
> Maybe you could ask if they have any ideas about how to solve this.
> Digital signature? Some sort of note of authorization? Of course, this
> might also open up the account for abuse anyway.

My wife the banker suggested two options: have a limit, over which two sigs
are required (making smaller amounts more accessible by check) and arranging
with the bank to allow a faxed sig for the second signatory (to create money
orders for larger amounts. Not useful for checks, though.) Where she worked
(Union Bank in California) this kind of arrangement was pretty much at the
branch manager's discretion.

Free is good, but even if a business account cost $20 a month and $100 or so
to set up, I'll bet the $$ would be appear somehow.


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