CHECKING ACCOUNT PROTECTION
Before I explain how your new company will protect your checking account, let me explain a few important points to keep in mind for banking safety:
- Better Safe Than Sorry: We always recommend keeping just enough money in your checking account to pay your monthly bills, and no more. This is for the simple purpose of avoiding greater losses in case the very likely possibility of a bank closing due to financial panic, act of “terrorism”, national emergency, other scare tactics, or natural disasters should occur. “Better safe than sorry” is our mantra in such unstable economic times. Think a bank closing isn’t possible? (Check this internal Bank Memo from august of 09)
- Boycotting the Big Banks: Considering the risky and speculative money games the “BIG BANKS” have played with your money, along with their close involvement in helping deregulate the economy, we urge you to consider keeping whatever money you do have with smaller and safer institutions such as local community banks and credit unions. For more info on this, see Moveyourmoney.info. Also, to check the strength of your community bank/credit union visit: Bank Strength Ratings
- Regarding “Safe” Deposit Boxes: The concept and name “safe deposit box” is a complete oxymoron, contradiction, and hypocrisy. Why? because the banks will not hesitate to restrain and seize the items in your safe deposit box when served by a restraint order from the courts. It happens every day when attorneys sue and win. So do not let the name “safe” deposit box fool you. If someone in addition to you and your trusted ones has access, it’s not safe.
Now to explain why your personal bank account is at risk and how you may use the company we create for you to open a “shielded bank account” . Creditors and collectors suing you personally aren’t able to freeze a bank account which is not in your personal name, so we help you with the right documents to open a business account, which can be used to replace your personal accounts. Here’s how it works:
- We provide you with all necessary documents: Certificate of Formation, Articles of Organization, Operating Agreement, Tax ID, Certificate of Good Standing, etc.
- You select a secure bank of your choice and request the teller to open a business account. (be sure to ask about any fees involved in having a business account).
- Your new bank account will not have any tax consequences as the money you deposit into it will be your personal income, in other words, it’s money from which taxes have already been deducted, also, the business does not engage in any sale of goods or services, so there is no business income to tax. (* We are willing to speak with your accountant if they have any questions regarding this).
- You may deposit checks made out to your name, even though the bank account is in business name. This is because you are listed as the signer/owner on the account, therefore, most banks will clear checks in your personal name.
* All information on this website is for educational purposes and is not intended to replace investment, legal or financial advice from a licensed professional.
