Bank account for a group project?
April 5, 2014 2:55 PM Subscribe
I'm collecting donations for a group project, but don't want to deposit the funds in my personal bank account. Is there another type of account I can use instead?
posted by treepour to Work & Money (4 answers total)
I'm playing the role of treasurer for my Burning Man group this year. We're going to be asking for donations via paypal from our members to help fund the stuff we're going to build, transportation, etc. I'd prefer not to use my personal bank account for this, but I'd also prefer not to create a legal entity such as an incorporated business or non-profit organization. I just want a place to keep the group funds separate from my own personal funds. Is there a type of bank account that's used for this sort of thing? If so, what is called or what should I ask for? Are some banks better than others in this regard? In case it's relevant, I'm in California. Thanks!