IraS1@aol.com wrote:
> Simple answer. Find a different bank and/or a different broker.
>  
> Ira Smilovitz
>  
>
> In a message dated 01/23/08 2:02:03 A.M. Eastern Standard Time,
> jennifer@bivio.com writes:
> Kerry
> Ashford wrote:
> > Kerry Ashford wrote:
> > > Jennifer Winkler
> wrote:
> > > > We've just set up our club and are using
> OptionsXpress along
> > > > with Bivio.  My question pertains
> to dues.  OptionsXpress
> > > > doesn't allow deposit from any
> account other than one in the
> > > > same name (meaning, we can
> only deposit from a bank account
> > > > that is in the name of the
> club).  Where I'm having trouble
> > > > is finding a place to
> open an account in our club's name.
> > > > WaMu says we have to
> have a DBA and a Letter of
> > > > Authorization, etc.  How
> does everyone else do it?  I don't
> > > > want to have
> everyone send their $$ to me and then I send a
> > > > check to
> OptionsXpress because I don't want to show that
> > > > kind of
> income in my personal account.  I'm really stuck
> > > >
> here.  Please, any suggestions??
> > > >
> > > >
> Jennifer
> > > > Pot 'O Gold Investors
> > >
> > > Did
> you form your club as a partnership and obtain a Federal
> > > Tax Id
> number?  If so, and you should have, you should be
> > > able to
> take a copy of the signed partnership agreement and
> > > bylaws along
> with the tax id number and open an account in
> > > the name of the
> partnership.  You should need a DBA form
> > > since partnership
> should be doing business as itself.
> >
> > Just noticed the
> typo.
> >
> > You should not need the DBA form for the partnership,
> unless
> > the accounts are being setup under a different
> name.
>
>
> Thanks.  I just went to WaMu with our "Operating
> Agreement"
> and EIN but they said there is no way to open an account
> with
> out a DBA or business license unless we are a
> not-for-profit.  I can't
> figure out why I'm having this
> problem and no one else seems to.  All
> I want to do is have
> a place where all of our members can deposit their
> dues each
> month and be able to transfer it to OptionsXpress when
> we're
> ready to buy a stock.  OptionsXpress isn't very helpful
> with
> this, in that they don't allow any deposits to be made by
> "third
> parties", meaning anyone who isn't a primary on the
> account.  How does
> everyone else do this??
>
>
>
> Start the year off right. Easy ways to stay in shape in the new year.

We don't have this problem with TD Ameritrade.