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A family member is in ICU with traumatic brain injury. I set up a fundraiser online and raised a decent amount of money. Currently the website will deposit the funds into my personal account and then I will write his family a check. Is there a way I can set up a separate account so the money is completely separate from my account and also I can accept checks at future fundraising events?
Jennifer, Deer Park
February 3, 2015 02:26:05 PM
4 people recommended this |
In reply to Jennifer, Deer Park
We appreciate you choosing to reach out to us on TD Helps today, Jennifer.
We're sorry to hear about your loved one's condition and wish them a quick recovery.
There are a couple of ways that you may set up a separate account. It is important to come to the decision of whether you'd want account under your personal Social Security number or if not, you may choose to apply for a Tax Identification number.
If you choose to have the account under your personal information, you may open a separate account with the purpose of collecting funds for someone else. To open this type of an account, we'd recommend visiting your local TD Bank Store. For a listing of TD Bank Stores, please look here: http://bit.ly/TDStores. The documents that you will need to open the account are the following: Your Social Security number and ID (Driver's License, State ID, Military ID or Passport).
If you'd like to use a Tax Identification number, the account will act like a Business Checking account and there are a few things you'd need to bring with you to open this type of account. If your account is going to have multiple signers, be sure to bring them with you for the account opening process. Those who are going to be signers on the account need to bring the following documents: a valid photo ID (Driver's License, Passport, Military I.D. etc.) and Social Security number. For a non-resident alien opening a business account, you will need two valid forms of ID and a W-8Ben must be completed during the account opening process. Also, be sure to bring the Tax Identification number for your business.
To open it as an Incorporated Non-Profit Organization, please include the additional following information: State Website Report, Filed or Certified Business Formation Documents, or Certificate of Good Standing/Existence. Additionally, you will need to bring the Corporate Resolution documents. If the Non-Profit Organization is not Incorporated, no additional documentation is required for this account type.
Prior to visiting a Store, we recommend taking a look at the types of business accounts TD Bank has to offer. If you take a click here, http://bit.ly/1lWgAhe, the link shows the types of business checking accounts. As a feature on our webpage, TD Bank can also help by recommending an account for your needs with the Business Checking Selector Tool, take a look here: http://bit.ly/1lGeYmw. If you have any questions while reviewing these options, a Business Banking Specialist would be happy to assist you over the telephone. You can reach them by dialing 855-278-8988.
Once you've decided on the right account for your needs, you can stop by your local TD Bank for assistance or contact us 24/7 at 888-751-9000 to schedule an appointment. You may also click here: http://bit.ly/SWDqsn to fill in a form to request a call form a Small Business Banking Specialist.
We hope this helps, Jennifer and hope you have a nice day. Take care!
Sandy D, Mount Laurel
February 3, 2015 02:27:19 PM
1 person recommended this