We all know that the account name and number that is written on the reverse side of a check, is not the actual name or number. This is why when customers pay with checks they often write in a name, but, then, when they receive checks, their account is not in the name of their company. To avoid this situation, with business bank accounts you can make the name and number the same, but your business name and number are on the side of the check. When you have a company debit card that has owners’ name and number on the back of the check you will have this information on the front side. This way you don’t have to write in the name, but, rather, you can simply write in the company name and number.
When you are presenting an application to a company for a card that they will be accepting to pay for goods and services, it will most likely look something like this:
You will need to supply the company that you are applying to have credit information on file in order to apply for this card. There are certain circumstances in the event that your account name and number is different than your company ones. For example if you are a sole proprietor you will need to present your individual business information. This is done by obtaining a number on your business card. You will also need to provide the name of your business and it’s initial address. A fax number or extension number can also be provided for new clients.
Below you will find the three mistakes that you must avoid when you set up or create business bank accounts in order to avoid being confused with another company.
1. You do not have a private number at all. Having the company name on your check back line, but it is personalized. You will only need a number on your business card. When you submit your application to a company your personal number or company number will be sent to them. However, to waterproof an attempt by a lunatic lie on the application form, you can get a company number on your phone number, a fax number and the address your company provides you will all go on your business card.
2. You are using a business credit card. When you request a business credit card that is based on your business entity that will give you a number on the back of the card that you can submit to companies for permission to use their services. These business credit cards that seem to be little more than a way to get from point A to point B, will often charge extra fees when you use them and charge you for their services. Not to mention if you opt for a credit card with monthly fees you will find that for each month that your credit card is used, this can add as much as a percentage of your monthly credit card dictates to doubling your interest rate over and above the basic interest rate.
3. You are not providing your personal name, phone number and contact information. If you do not have a business number on your back of your credit card, do not be surprised if the companies you are applying for, and indeed all the companies you have ever heard of, will not call you back at all.
All of these mistakes can be avoided by doing what consumers, and business in North Carolina business owners, do not want YOU to do. Drive-up to that banker and tell them you are interested in a credit card promotion.
Next, in order to receive a credit card with the best interest rates you can get a number on your business card. Now you have all your business details on your business card and you can start taking advantage of your rewards.