Banking question ?

« **on:** August 03, 2015, 01:36:28 pm »

If two equal partners are running a business is it possible for only one of them to get a business account ?

Thank you

« **Reply #1 on:** August 03, 2015, 04:22:28 pm »

think so but I would want to have my name on account as equal what happens if other one is seriously ill or does a runner

« **Reply #2 on:** August 03, 2015, 04:32:45 pm »

Makes no difference, if you are registered as partners, if one disappears the one remaining is liable for all debts.

« **Reply #3 on:** August 03, 2015, 04:55:08 pm »

Makes no difference, if you are registered as partners, if one disappears the one remaining is liable for all debts.

Don't think this question is about debts, if there's money going in and there's only 1 person in control of the account , he might do a runner!!

« **Reply #4 on:** August 03, 2015, 05:17:11 pm »

The reason I ask is I want my partner to control the finances, but I do not want the hassle of applying for a joint account as I already have two !

« **Reply #5 on:** August 03, 2015, 06:26:36 pm »

The reason I ask is I want my partner to control the finances, but I do not want the hassle of applying for a joint account as I already have two !

I wonder how Gordon Ramsey would respond to Samson's post?

« **Reply #6 on:** August 03, 2015, 07:08:47 pm »

Open an account in the name of the business. You can nominate whose signature is needed for running the account.

« **Reply #7 on:** August 03, 2015, 07:21:57 pm »

Open an account in the name of the business. You can nominate whose signature is needed for running the account.

Thanks Ian, would that mean I wouldn't need to get involved with the application process ?

« **Reply #8 on:** August 03, 2015, 07:28:24 pm »

Partnerships can often be a recipe for disaster. Have a limited company with equal shares. All liabilities are contained within the company.

« **Reply #9 on:** August 03, 2015, 07:42:45 pm »

Partnerships can often be a recipe for disaster. Have a limited company with equal shares. All liabilities are contained within the company.

The partner in question is my wife

« **Reply #10 on:** August 03, 2015, 08:06:30 pm »

If two equal partners are running a business is it possible for only one of them to get a business account ?

Thank you

Yes is the answer.