Here in North Jersey we have a local Citizens Association, whose duties are social in nature. Our "revenues" are in part from the organization that administers the business part of our community, but mostly from contributions to specific events that are organized by committees of said Citizens Association. Our bank account does not have a TIN as of yet, because we date from before such a nicety was required. Unfortunately this means we can't go shopping around for a bank that would be nicer for us. Through the "merger" of the Bank of New York into Chase, we are now faced with new charges. We have been told that after the first 200 transactions, we will need to pay $0.40 per transaction as an "excessive transaction fee". I believe that this is a monthly thing. Question: If a check is made out to "Citizens' Association", can the required 2 officers endorse the check and make it payable to a person, so that we could use a personal checking account to accumulate these checks, then write out a single check for the aggregate amount and deposit that? Of course, the treasurer will need to keep accurate records. The question is whether this is legal, not whether it is really advisable. Thanks for your advice.
-- Best regards Han email address is invalid
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