I Opened a Business Account for My Pampered Chef Stuff...

[TheFreddiesCook]

I got free checks that came today, but they don't have my name, they say "The Pampered Chef", and my address... Should I send them back? My name is nowhere on the checks.

 

[leftymac]

Yes. You are not The Pampered Chef®.

 

[RMDave]

Yep. Have your name, Independent Consultant, The Pampered Chef®.

 

[pcsharon1]

I could be wrong....but according to my bank I can't have a "business account" because I don't have a business license. It has to be a personal account that I use for my business. But, yes, your checks should have your name and not The Pampered Chef - you are not PC. If that is how your account is listed you need to have it changed.........that could probably cause some tax problems and maybe even bank fees down the road. Hope they will take them back for you.

 

[etteluap70PC]

You need to send them back and change to a personal account. I do not have anything on mine about TPC.

 

[TheFreddiesCook]

I went in to open just a plain account for the business, but the guy suggested to make it business because it would make it easier when tax time came. So I said ok...

I called the bank and told them, and he said he would reorder the checks for me and to just drop off the other ones tomorrow and he'll send them back.. So i will do that.

What's the difference between business and plain personal checking?

 

[pcsharon1]

The difference that personally affected me was that you had to have a higher balance and a larger initial deposit to have a business account - along with having to have a business license. I guess it must be different from bank to bank but I have always found there are more fees related to how high your balance is with a business account.

 

[babywings76]

I bank with Wachovia/Wells Fargo. My business account has no fees and no minimum balance at all. It is pretty much just like a personal account. But it's kept separate so that I don't accidently mess up my accounting on our personal account. There were benefits to opening it as a business account, but I'm such a nit-wit and can't remember what they are. :blushing: But my account is just my name and then "-PC", they said that I should do that in case someone wrote a check in the name of "Pampered Chef", they would accept it.I guess each bank is different.