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They can deposit money into their personal bank account but they shouldn't. It will mix funds and accounting and taxes will be challenging. They can also be accused of wrongdoing.

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2008-06-14 01:37:15
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The addition of the word google to dictionaries demonstrates that Google has been successful at what business strategies

A corporation gives out its profits as dividends paid to whom

The Google business model is most similar to the model followed by which other industry

Google's relaxed and non-traditional corporate culture is one aspect of which

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Q: Can the director of a corporation deposit company money into their personal bank account?
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Yes, but it will be treated as a drawings account.

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Is it legal to transfer funds from business to personal account?

It is legal as long as both accounts belong to the same person/company. If the owner of a company transfers cash from his business account to his business account it is legal. But, if his Personal Assistant does it from her boss's business account to her personal account, it is illegal.

Can you deposit a business check to your personal account?

No, you cannot deposit a business check into a personal checking account. You can only deposit a check into an account that shares the same name, i.e. A check is made out to ABC company--it can only be deposited into an account that is titled ABC company. It cannot be deposited into a personal account--even if that is the personal account of the owner.

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