Can I have credit card processing deposited into my personal bank account?

Question

We would like to accept credit cards for our business. Do we have to have a business checking account or could they set up to have our deposits go into a personal checking account?

Answer 1

Hi Lisa -

The answer to your question depends on the type of business.  We have many sole proprietorship's that deposit into their personal checking account.  If you are looking into getting set up please check out this website for more helpful information.

www.windriverfinancial.com

Thanks and good luck!!

Answer 2

Since the credit card machine is handled through merchant services, which is a business service, the funds must be deposited to a business checking account related . cannot be sent to anything personal, as this could be considered fraudulent.