NOW Accounts & Incorporated Non-profits

Question: We have a nonprofit church account that is incorporated. They Want to have a NOW account. We have a list that shows nonprofit organizations are eligible but it shows that business corporations are not. Since this church is incorporated, we were unsure if we could put them in a NOW account.

Answer: Nonprofit organizations are eligible for NOW accounts, regardless of whether they are incorporated, so the church, as a nonprofit organization, would be eligible.

Originally appeared in the Oklahoma Bankers Association Compliance Informer.

First published on BankersOnline.com 10/29/01