I just received a check from an investment club of which I am a member. The brokerage firm that we use made the check payable to the investment club, but the investment club doesn't have a bank account. How do I go about cashing this check or depositing it into my account?
The problem is that the check is payable to an entity that is not you. Open an account for that entity, or have the entity, the investment club, endorse the check to you, so that you may deposit it into your own account. This means the investment club needs organizational papers and structure. Hopefully this is in place. It should be, if you're doing business under that name.
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The problem is that the check is payable to an entity that is not you. Open an account for that entity, or have the entity, the investment club, endorse the check to you, so that you may deposit it into your own account. This means the investment club needs organizational papers and structure. Hopefully this is in place. It should be, if you're doing business under that name.
