Why cant I transfer funds online between my corporate and personal accounts?
Regulators place a strict burden on banks to limit potential liability with respect to funds being improperly moved from corporate accounts to personal accounts. A check being written from the corporation by an authorized signer, to a specific payee, provides a paper trail that can be used if, at any future date, there is any question as to why corporate funds were moved to a personal account.
Related Questions
- Can I transfer mutual funds, IRAs, 401Ks, or pension funds to the corporate brokerage accounts that you set up for my corporation (or foundation)?
- What is the last day I’ll be able to transfer funds between Partners Trust accounts, using Partners Online?
- Why cant I transfer funds online between my corporate and personal accounts?
