How Many Convenience Signers Add to Personal Acct?

I am not aware of any limit on the number of convenience or authorized signers. However, it's conceivable that a state statute on convenience accounts (a term often used for personal deposit accounts with designated "convenience" or authorized signers) could have a stated limit. It's also possible that a bank could establish a limit on the number of authorized signers it would accept based on operational constraints.

Your first step should be to review state law, using bank counsel if necessary, to determine if there's a restriction there.

First published on BankersOnline.com 4/29/13