[john63.]

Do you have to have a business account or can you just have an ordinary account

[DaveG]

Just a normal account for me, although I'm not sure how much longer I'll get away with it, what with all the bacs payments and cheques going in!

[Jonny 87]

I think as a sole trader the bank can't force you to get a business account.

I pay £25 a month fixed rate for mine as it lets people send cheques in my business name etc.

That's the only benefit really.

[duncan h]

Just a normal one in your name

[sunshine windows]

Bloody hell Jonny! That's an expensive account. Mine only costs £7.50 monthly and I have another thats free for life

[john63.]

In bank today they asked why I didn't have one said don't want one was 7.50 month

[SB Cleaning]

I run a business....so i have a business account 

[NWH]

I think as a sole trader the bank can't force you to get a business account.

I pay £25 a month fixed rate for mine as it lets people send cheques in my business name etc.

That's the only benefit really.

Its not the only benefit business cheques clear almost within a day you have a business manager who you can arrange loans with etc over the phone you don't need to even go into the branch to sort things out like financing a new van or similar.

[Tom-01]

I think as a sole trader the bank can't force you to get a business account.

I pay £25 a month fixed rate for mine as it lets people send cheques in my business name etc.

That's the only benefit really.

Its not the only benefit business cheques clear almost within a day you have a business manager who you can arrange loans with etc over the phone you don't need to even go into the branch to sort things out like financing a new van or similar.

At last NWH has written something resembling sense 

Definitely a business account. If run well with good turnover your account manager will be falling over himself to give you money. That you have to pay back of course. But it definitely helps if you're expanding/upgrading.

[john63.]

Do they charge to pay cheques in

[Mike #1]

I am with Natwest i pay a fee of £5.00 for automated transactions , I only get about 1 cheque a month and i almost never have the need to pay cash in so my bank charges beyond the fee are almost zero .

[Jonny 87]

Bloody hell Jonny! That's an expensive account. Mine only costs £7.50 monthly and I have another thats free for life

I know.

It's the Royal bank of Scotland. I was getting charged £50 plus until I went in fixed rate. Problem, was that all my customers do bacs so I sing want to change accounts and details.

Atleast it's a business expense. Lol

[David Beecroft]

The Cooperative Bank do a business account, Business Directplus, at £5 per month with the first 18 months free. 

[NWH]

£25 a month I calculated they charged me over nearly 2k in bank charges they shouldn't have done,they offered me £50 gesture,this was prior to business account.

[Shane sharples]

So for the privilege of having a business account, customers pay into an account with your business name on it, chequers clear in a day( can you not wait 5?) and you can get into debt easier with all the money the banks willing to lend you.... And that's worth paying for? 🤔
When you can have a regular account that customers pay into with your name on it for free....

[NWH]

I used to do a couple of high street banks cleaning contracts before they went national,the staff said then and they still say it that if your account looks like it's being used like a business account they will make you change to one. Does it not look like a business account then if your putting 200 odd cheques through a month lol.

[richard groves]

I've used a current account with nationwide for over 10 years for paying in cheques ( limited to 10 @ a time ) and bacs payments and never once been asked.

[NWH]

Exactly 10 at a time but keep going in with lots of chequers and they will question you,sure you'd get away with a hand full of chequers a month but lots of them they will see what's going on and they'll want there minimum of £25 a month business tariff. I've spoken to staff outside banking hours they arnt making anything out of you with a current account so it's in there interest to make you have one.

[Shane sharples]

There is no legal requirement to get a business bank account

[G.W.C]

When having a business account, is it possible to have cheques paid into a personal account then transferred over to the business account, therefore dodging the charge for putting the cheques in?

It's a pee take getting charged to put your own money into your bank