About That Citi AA Business Application…

Some of you may take liberties when applying for a business card. “Oh, I’m going to name my business after my dog, keep it as a sole proprietorship, and use my SS# on my application.” What’s the result? You are approved. I also have named my business after my dog but unlike some who stretch the rules about what is or isn’t a business, I actually have a real business. My reward? More questions and more requests for documents to prove that I’m actually who I say I am. First, it happened with Barclays (see About That Barclays JetBlue Business Application…). Now it is happening with Citi. Citi wants an address that matches the address on my articles of incorporation. My CPA incorporated my D.O.G. and listed his address on there. Consequently, I do not have the documents Citi is looking for, nor should they be required. Many corporations are organized by someone outside of the corporation. Many corporations start change addresses.

It gets more complicated. Citi doesn’t understand why my company is a dog, but my law firm is called Bachuwa Law. First, many corporations use a DBA. Do you know that Verizon goes by Cellco? I’m sure they don’t have a problem getting access to credit. Second, NY doesn’t allow the use of trade names for law practices.

Finally, there’s my Houston mailing address.  There are questions as to why I work in NY but receive mail somewhere else. The answer is simple: the mail forwarding company, US Global Mail, is based on Houston and I am too cheap to pay for a NY mail forwarding address.

On paper or over the phone, I understand that my application sounds sketchy and why KYC rules require banks to ask for documents. But for sole props of made-up businesses for dogs that were also made up, the process is not that complicated. Perhaps I should reapply in my former cat’s name.

I’ll let you know when my dog is not approved.