Welcome To The Bitchery

Anyone work in banking here?

I am about to blow a gasket over what should be a simple thing.

1. I am a lawyer. I have an IOLTA account under the name of my LLC (“RBR, LLC”).

2. I have a check from an insurance company. It is made out to “I.M. Client and Andy M-S, Esq.”

Advertisement

3. I take it to the bank, ready to endorse it for deposit to my IOLTA account as “Attorney Andy M-S in trust for I.M. Client”

4. The bank says, “sorry, we can’t do that, we can only deposit checks that are made out to YOU (since you’re a signatory [I am the ONLY signatory]) or to RBR, LLC.”

Any bankers here who can explain WTF is going on?

Share This Story