Is anyone using a USAA bank account as a business account. I bank with them, and I remember seeing something on the forum about someone opening a regular USAA account and putting her business name on the account. How is this done, or is it even possible? I would like to stay with USAA, if possible. I'm open for bank suggestions, if I can't use USAA. Thanks!

__________________
Collaborative Business Support

I though USAA was for Military families only.

Have you contacted the bank to ask them their policies? I have a business account with my bank which is actually a general account with both mine and my business name on it so that I can cash my business checks.

I was also advised by my banker to put my husbands name on the account so that if something should happen to me he will be able to access the account without all the red tape.

__________________
Lee Drozak
My Office Assistant

Hi leedrozak,
In putting your husband on that account...does it make it a joint account? Or is it just his name with limitations? Thanks!

Originally Posted by VOELLC

I though USAA was for Military families only.

You are correct. That is their customer base.

__________________
Collaborative Business Support

Originally Posted by leedrozak

Have you contacted the bank to ask them their policies? I have a business account with my bank which is actually a general account with both mine and my business name on it so that I can cash my business checks. I was also advised by my banker to put my husbands name on the account so that if something should happen to me he will be able to access the account without all the red tape.

My bank does not offer business bank accounts. That's why I was wondering if the person, who posted about having a personal account with them, but having her business name on the account, could give me some information.

__________________
Collaborative Business Support

Allora,

He is added to have full access to the account. It is not a joint account, however should anything happen to me he would be able to make payments, deposits and close out the account if necessary. Also by him being on the account should he be my surviving spouse he will pay no inheritance tax on the funds available.

__________________
Lee Drozak
My Office Assistant

Peppy,

It is a "limited" business account that includes both my name and business name. So as to not incur fees our bank has a variety of options on "personal/small business" accounts. It is basically set up as a personal account with a twist being that they did include my business name for check cashing purposes.

I talked to several banks before I found this option so I would check with local banks in your area. My bank is headquartered in the area we are moving to however they have branches all across the state.

__________________
Lee Drozak
My Office Assistant

I bank with a credit union, we have several accounts that we can access at any time and they are linked together as well. My business account was free to start, many other banks had huge fees and starting balances required.

My husband is also on my account, for unforseen emergencies. I'm always planning and preparing for the future, including for unfortuante incidents.

__________________
Maryann Matas, Seashore Transcription & Typing Services
Virtually Partnering in Business for Your Success