M1 Spend checking accounts are for consumer purposes only
Upon opening an M1 Spend checking account, you must agree to Terms and Conditions that specify this account is an individual account.
Deposits made to an M1 Spend checking account must be in the account owner’s name only. Any deposits created that are payable to an individual other than the account owner will be returned, and the account closed. This includes unemployment benefits, tax refunds, Social Security benefits, stimulus payments, and any other type of deposit in another person’s name.
M1 Spend checking accounts aren't eligible for business use.
You can review the Terms and Conditions Agreement for M1 Spend by going into your account settings.
If you have any questions, please contact us.