Direct Deposit for commissions
- Thread starter kew
- Start date
Interesting post. I don't know the answer to that, but I would venture to say that is not allowed until you are married with a joint account. Probable reason is due to taxation.
Most carriers ask for a copy of a void check. However, if there is no name on the check, I don't know if they would have a clue who owns the account. I don't remember having to give my name for the bank draft, just account, routing and bank name.
Most carriers ask for a copy of a void check. However, if there is no name on the check, I don't know if they would have a clue who owns the account. I don't remember having to give my name for the bank draft, just account, routing and bank name.
EdHead
Expert
- 29
I don't know any thing about the legal aspects of direct depositing commissions into your finance's account.
I have however, lived long enough to see many engagements never make it to the alter. Just my advice, deposit it into your own account until you actually get married.
I have however, lived long enough to see many engagements never make it to the alter. Just my advice, deposit it into your own account until you actually get married.
- 9,744
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You might ask the carrier if they are willing to do so, because is your fiancee a licensed agent?
I think in all states that would be considered sharing commissions? no?
I think in all states that would be considered sharing commissions? no?
EdHead
Expert
- 29
Then you're sure to lose it all one way or another!
There is that small part of her wedding vows where she says
"whats your's is mine and what's mine is mine"
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Was this your idea or her idea to deposit into her account?
LOL...
OK bad joke...
I know I could not deposit to my companies bank account until my company was licensed by the DOI back years ago when I switched from SSN to EIN.
I am sure it is because of paying an unlicensed entity.
LOL...
OK bad joke...
I know I could not deposit to my companies bank account until my company was licensed by the DOI back years ago when I switched from SSN to EIN.
I am sure it is because of paying an unlicensed entity.
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- 624
Wow, thats interesting..
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Ive seen agents all the time have direct deposit into someone elses account, without the same last name.
Ive never seen a problem.
Ive never seen a problem.
lookin4abetterwayinpa
Expert
I can't seem to get the qoute thing down, I am technically retarded.
That being said, agents do direct deposit into other peoples accounts everyday, these people are called GA/MA s.
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