Can a business depositor have an interest bearing checking account?
Some businesses are sole proprietorships. They can earn interest on their checking accounts. Other forms of businesses (partnerships, LLCs, corporations, etc.) are not permitted to have interest-bearing checking accounts. That's because the law permitting the payment of interest on a special kind of checking account, the NOW account, has its origins in the savings bank industry, which used to deal principally with individuals.
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Some businesses are 