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What is a bank account called that is used for an organization?

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mobwars29 asked:

I’m wondering what a bank account is called that is run by several people. That has a sort of check and balances effect so that one person doesn’t have all the power. Can anyone help me?

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One Response to “What is a bank account called that is used for an organization?”

  1. Scott K says:

    Multiple signature checking account. Most only have 2 people and it’s called dual signature. I don’t think I would have a lot of people needing to sign checks, it can be tough to find people around the holidays and during the inevitable trips out of town. I would advise authorizing multiple people to sign checks, but requiring 2 signatures.

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