Forum

Can I use my company name as "Bank Account Holder Name" on Amazon?
 

Hello,

I have read the Amazon stealth guide and the threads in the forum, and just wanted to make sure.

I have registered for Amazon bank account with my stealth name. Also, I have registered a business under LLC for EIN and tax purposes.

Now when I open up a bank account under my business LLC, can I register the name section to my LLC name instead of the stealth name.

For example on the last section on Amazon bank account info, on
"Bank Account Holder Name" Can I put the company name like brilliant,LLC
instead of random stealth name like Bob Jones, Or does is have to be the stealth name only? (and my new company name is different from the stealth name)

Reason for this is because if I can registered under business name like Brilliant LLC, I can the receive funds under matching name instead of receiving funds under someone else's name.

I understand that you can receive the funds under someone else's name, but I think it would be better with matching name in the long run, when I can again sell in a big volume and withdrawal larger amount of money, with the new stealth account in the future.

Has anyone used their business name for the "Bank account holder Name" on Amazon?

Yes i have my account set up that way but i am using a business account and that name is on there..

So the business name is good to go?

Seems well thought out - when business goes big, it's tax time too for the business`

Well Hopefully, I am planing to run just a few accounts but grow those few accounts with good selling limit. Reason for not having too many accounts is because I want to keep those account legal/paying taxes with business EINs.

I can't imagine having to keep up with 10+ accounts and pay taxes for each accounts, keep up with ip address and so on.

I have read some people on the forum have 50-100 accounts or more, I do not know how they can keep up, and I think those guys are genius, even if they are just keeping the other accounts as back up.

Re: Can I use my company name as "Bank Account Holder Name" on Amazon?
 

I am in the process of entering LLC name I set up for account holder for bank info on amazon. I guess my question is would amazon verify my residential address via bank. Bank did not want to use my UPS store address after they learned that I was using ups store address. I went ahead and entered my residential address instead. Would this be a problem when I enter bank info for deposit payments?

Re: Can I use my company name as "Bank Account Holder Name" on Amazon?
 

When I first set this up, it was pretty confusing, and I hope I can help to make it easy. This is the procedure I've used to set up my stealth account for my business. With this method, you can pay your taxes under your LLC.

1) Go get a New/different mailing address. You can get the mail box address from a mail box rental, P.O. box, or UPS (But you said UPS mail do not work). I got the mailbox from a mail box rental place can they've gave me a mail box number.

2) Go form a LLC under the same address you've got from your new address/mail box.

3) Go get a BUSINESS BANK ACCOUNT under your LLC, and use the same address from your mail box. If you show the business/LLC certificate, and it matches the same address from your mail box, the bank will allow you to use the same address from your mail box regardless where you get the mailbox.

4) When your new stealth account holds up, you want to change your setting this way:
a) Business Address: Use same address from your new maibox, and your business license/certificate
b) Legal Name: Use your business name/LLC
c) Place of Established Address: Use same address from your new maibox, and your business license/certificate
d) Tax identification information: Use your business EIN

Advantage of using this method, you are setting up your Amazon stealth account as legal business account. You can pay taxes under your business name, and Amazon will deposit the funds from your bank account under your business name, NOT some random stealth names, so your bank account will not look suspicious at all.

Also, you can receive mails, if you need to get returns packages from your customers or for anything else.

Disadvantage of this method is if you account gets linked, you have to close all your accounts (Mail box, business bank account, business license/certificate), and set it up all over again from the beginning

So try to make it right the first time, and do not get your account linked.

I hope it helps, and please let me know if you have any more questions.

Re: Can I use my company name as "Bank Account Holder Name" on Amazon?
 

Thank you.

I know this forum and amazon stealth guide helped me to get back, and I hope this tread can help others as well.

Please excuse some typos on my previous tread.

Re: Can I use my company name as "Bank Account Holder Name" on Amazon?
 

I always use a company name for deposits. It's much easier to explain to the bank that the deposits are in your company name than to have to explain why you used a totally different name.

Re: Can I use my company name as "Bank Account Holder Name" on Amazon?
 

Can I use this exact process outlined, but instead of LLC us my Personal Name Sole Proprietor EIN? (My name was previously used on a banned account, just with my SS nor as a Sole Proprietor) All other factors are the same - new business address, phone, IP, bank account, etc.