If a person has several SMLLCs, are they allowed to use their individual name and TIN when opening bank accounts for each SMLLC or do they have to use the SMLLC name and EIN?
The SMLLC has no employees.
I would advise that you open LLC bank accounts using the LLC’s name and EIN.
Otherwise, those accounts are in your own name, and therefore are your assets, and you really have not segregated your business and personal assets at all. It’s commingling in a serious way.
A bank might be willing to work with you on reducing fees (or eliminating them), so that having multiple accounts doesn’t eat you alive in fees. Ask around…in this environment, I think banks should be happy to get any new deposits!