Newly formed LLC (Question regarding bank account)

[Lari A.]

Hello BP Community,

I'm a new investor who has just formed an LLC (sole member). I haven't been able to set up a bank account for the LLC yet, and my question is this: if I purchase and assign a property under the LLC, can the check be made out in my name to be deposited into my personal checking account (at which point, I will be able to open the LLC account)?

Thanks for any help with this!

[Mark Holencik]

The bank account takes about 15 minutes to set up if the LLC is registered.

You can set the checking account up without any money.

Get the check made out to the LLC. You do not want to mix up personal funds with business funds.