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Old 10-27-2008
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Default Questions Regarding LLC Debit or Credit Card for New Seller Account

Hi all:

I just read through the Stealth Book and was impressed with the depth of info, but have a few questions as regarding use of an LLC.

I like the idea of doings things honestly so far as practicable, and the idea of an LLC alter-ego appeals to me, notwithstanding the extra expense. If I go that route, I'll set up a checking account under the LLC name, say XYZ Widgets LLC. I'll have to give my personal SSN to set up the account, but am assured that this info will stay with the bank. I'll have an LLC FEIN for public use.

The bank I propose to use has offered to issue business credit and debit cards to me. The cards would say XYZ Widgets, LLC but have my personal name underneath on them as well, but would be tied to a company address. Would either or both be safe to use for seller account verification and payment of seller fees, etc? Or would it better to use a gift debit card. If so, would I register the card first name: XYX, Last name: Widgets, with the LLC address? or something else? Would it look odd registering a gift card in a company name?

Any help would be appreciated! I'd like to do this right the first time.
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Old 01-28-2019
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Default Re: Questions Regarding LLC Debit or Credit Card for New Seller Account

I know this is an old thread but does anyone know the answer??
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Old 01-29-2019
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Default Re: Questions Regarding LLC Debit or Credit Card for New Seller Account

Quote:
Originally Posted by NeverGiveUp1 View Post
I know this is an old thread but does anyone know the answer??
I know the answer.

I have multiple accounts / cards that are titled in my name as well as the LLC name. In my experience. when I put them into the browser I use either first initial and partial last name, break the company name up (MacDonalds LLC) as first name "Mac" and last name as "Donalds" (Plumbing Supply Co LLC) as first name "Plumbing" and last name as "Supply", or use a different first name with real last name. I've also used the Stealth name with the card in question - no issues. In my experiences what they are mostly checking for is partial address match and zip code match. In my experience I've never experienced a rejection of a corporate card due to full name mismatch. I've paid fees and all else using corporate cards / debit cards all having my name on the card. I have also lost two accounts bearing my personal name on the corporate cards (due to other circumstances) - and the collections came to the LLC name not the personal name. Should I ever receive anything personally I would simply state I was an employee of "XYZ Widgets LLC" at one time however I have moved on and refer them back to the LLC.

Hope this helps.
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Old 02-06-2019
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Default Re: Questions Regarding LLC Debit or Credit Card for New Seller Account

Quote:
Originally Posted by Startacus View Post
I know the answer.



I have multiple accounts / cards that are titled in my name as well as the LLC name. In my experience. when I put them into the browser I use either first initial and partial last name, break the company name up (MacDonalds LLC) as first name "Mac" and last name as "Donalds" (Plumbing Supply Co LLC) as first name "Plumbing" and last name as "Supply", or use a different first name with real last name. I've also used the Stealth name with the card in question - no issues. In my experiences what they are mostly checking for is partial address match and zip code match. In my experience I've never experienced a rejection of a corporate card due to full name mismatch. I've paid fees and all else using corporate cards / debit cards all having my name on the card. I have also lost two accounts bearing my personal name on the corporate cards (due to other circumstances) - and the collections came to the LLC name not the personal name. Should I ever receive anything personally I would simply state I was an employee of "XYZ Widgets LLC" at one time however I have moved on and refer them back to the LLC.



Hope this helps.


Thank you!
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