Corporate Account Question

Question.

For corporate accounts that have a lot of time under their belt, i.e. 4 years, putting in checks, wires, etc is a snap.

But question is what is the FASTEST/MINIMUM time one needs to have a corporate account open for until one can begin wiring in larger amounts i.e. 5K, 10K, 20K, 50K?

From prior experience it seems to be about 6 months.

Any ideas appreciated.

SelenaArianaVidal said:

From prior experience it seems to be about 6 months.

Click to expand...

hmm...why would you have to wait anytime to have monies wired in? talked with my banker and she said there would not be any wait time. Now anytime you deposit more than $9,999 in a US bank account it is supposedly reported to the IRS.

There could be a hold on funds depending on where the monies are coming from.

Does this help you?

JQ

Hello,

Thanks for your reply. It does help.

But, I recall once when I opened a corp account and had about 5 checks come in within a 3 week period. The bank put a hold on the checks for 15 days.

They told me also that if one has multiple wires come in within a certain time frame, that your account gets flagged.

So my question is if I have about 9K come in monthly, via about 20 different wires, will that cause the account to become suspended?

Thanks again

Dropped you a PM ... if you have too much activity on a new account you might get flagged and especially checks.

Get to know your banker personally for they can do a lot for you.

They love money

JQ

Why don't you open offshore bank account? There is plenty offshore countries and they wont ask any questions about transfers.

Its about your relationship with your bank manager. If you are a large volume client odds are you are friends with the manager in which case even shady checks get cashed for you (personal experience)