What is a bank account called that is used for an organization? March 17, 2010
Posted by Banking in : Other - Business & Finance , trackbackmobwars29 asked:
I’m wondering what a bank account is called that is run by several people. That has a sort of check and balances effect so that one person doesn’t have all the power. Can anyone help me?
Comments»
I think Multiple signature checking account. Most only have 2 people and it’s called dual signature. I don’t think I would have a lot of people needing to sign checks, it can be tough to find people around the holidays and during the inevitable trips out of town. I would advise authorizing multiple people to sign checks, but requiring 2 signatures.