[sunshine windies]

Went in to pay some dosh into the usual branch of my bank today, the lady working there says, you do know you cant pay these into your personal account if they are business payments dont you as this is ILLEGAL 
Is this right? I cant imagine we all have business accounts ?

[PurefectWindowCleaning]

I know someone who only uses a personal account for his window cleaning business... not sure how mind??

[king marko]

Yep sounds about right fella - I almost felt like I was forced to get a business account by Barclays, they really made it difficult at my local branch to pay in chqs and cash every week.
On the plus side, I opened an account with HSBC which gives free business banking for 18 months.
After that, I don't mind shopping around and taking my business elsewhere if I can get a better deal

[sunshine windies]

i guess they are keen to get me over to a business account as obviously i'll be paying for that (with lloyds ) but i wonder am i actually in the wrong with what i'm doing

i'd rather just carry on with personal account as i cant be arsed to go through the whole opening a new account saga....

[PurefectWindowCleaning]

I bank with Santander, business account, and its free 

[NJWindowCleaning]

i guess they are keen to get me over to a business account as obviously i'll be paying for that (with lloyds ) but i wonder am i actually in the wrong with what i'm doing

i'd rather just carry on with personal account as i cant be arsed to go through the whole opening a new account saga....

No your not in the wrong as long as you can justify which monies is use for business and which is personnel useage. But do get any cheques made into your name instead of your trading/business name.

[robert mitchell]

As a sole trader you are perfectly within the law using your personal account , you just have to keep a record of income and outgoings etc .

She is wrong and if I was you I would suggest to the bank that they need to train their staff better .

It's on the hmrc website .

[sunshine windies]

Yes thats basically what i do when it comes to tax return time, highlight all business transactions on my bank statements and send them off to my accountant,
i find it relatively easy and my custys have never once moaned about making cheques out to my name, i dont see any benefit in changing really as i know a year down the line i'll end up paying over the top business banking rates  :

[sunshine windies]

Thanks for the comments,
the battleaxe in the bank had me a bit worried earlier 

[Carl2009]

Try free banking via the PO / Santander / Alliance and Leicester.

[weetot]

As a sole trader you are perfectly within the law using your personal account , you just have to keep a record of income and outgoings etc .

She is wrong and if I was you I would suggest to the bank that they need to train their staff better .

It's on the hmrc website .

Exactly what he said!

[GB Window Cleaning]

i also started a business accont with lloyds tsb and get 18 months free

[carl stanton]

it is not breaking the law but you are breaking the terms and conditions you agree to when taking and continuing use your personal account, but cant see how they can force you into it?
i like having a business account, keeps it all in one place.

I bank with Santander, business account, and its free 

hi, it is not free for new customers, but still seem very good charges

[Blue Frog Systems]

Im with Lloyds for my business account. Had my 18 months free banking and am now paying the fees.

There not bad and like any business you need to make money .... even a bank is a business.

I was going to change to a different bank once my free banking ended, but have been very impressed with Lloyds so im going to stick with them. They have been good to me so i am going to be good to them by keeping my banking with them.

I will say though that i only have the business account for cheques, bacs & standing orders ... i dont pay cash in there, that goes into a personal account (Lloyds again)

[Alex Wingrove]

Just say its personal

[PurefectWindowCleaning]

it is not breaking the law but you are breaking the terms and conditions you agree to when taking and continuing use your personal account, but cant see how they can force you into it?
i like having a business account, keeps it all in one place.

I bank with Santander, business account, and its free 

hi, it is not free for new customers, but still seem very good charges

No... I bank with them...and its free...

[luke g]

Join FSB and get free banking for life with the Co-Op and all the other benefits for being a member

[evo]

i bank with the hsbc and use my personal account for the last 12 months with no problems at all. my accountant told me i did not need a business account so i took his advice and told them where to stick it.

[Bay View WCS]

Went in to pay some dosh into the usual branch of my bank today, the lady working there says, you do know you cant pay these into your personal account if they are business payments dont you as this is ILLEGAL 
Is this right? I cant imagine we all have business accounts ?

Next time she says that, just reply with: "Really, that's very interesting; could you please tell me which piece of legislation covers such illegality as I presume you wouldn't dream of making an accusation like that to a customer without an in-depth knowledge of the law."

 

[sunshine windies]

   If i can remember that i will be sure to say it .......