[kordun]

Hi all

I had free business banking for the past 18 months and now i should start paying for this service
Do you think its worth having business bank account just to accept cheques in name of ... Services instead of my own name. I'm a car valeter and also do patio cleaning
I know it looks more professional when costumer writes you a cheque in company name but it will cost me over £50 every month just for putting cheques in my bank and other direct debits etc

[Jason Ryan]

Nothing wrong with having a seperate current account for business-no charges, but the banks generally dont like it and will big time hasstle you to have a business acount (as they charge then). So dont let on its business, but in time they will prob cotton on but its legal and fine for starting out.

J

[APPLEMAIDCLEANING]

Hi all

I had free business banking for the past 18 months and now i should start paying for this service
Do you think its worth having business bank account just to accept cheques in name of ... Services instead of my own name. I'm a car valeter and also do patio cleaning
I know it looks more professional when costumer writes you a cheque in company name but it will cost me over £50 every month just for putting cheques in my bank and other direct debits etc

Since 9/11 banks have cracked down on people using personal bank accounts for business because of money laundering, you can only have so much going in the account until they start looking at your incoming to your account, and yes it looks professional.

[ok cleaning]

try abbey  they offer free business banking up to certain amaunt of cheques and money banked every month

[daysdeepclean]

Whatever you do, DO NOT join Abbey..... It takes them 8 day to cash cheques and 3 days to credit "Cash" to your account . I'm claiming bank charges back because they have taken so long with cheques that when a Direct Debit is requested, and because they haven't put "My" cash in on time, they have given me a muliple of £32 fees.....

And it took them 3 letters and 8 months to change my address, when I rang to complain, the said "Well sir, it is free banking!"

So please, whatever you do, avoid them! My accountant's first advice was "Bin Abbey, they're crap!"

Kind regards, Colin....

[dianegreenwood]

Try Alliance and Leicester, they offer free banking permanently.

Cheers


Diane

www.freshlymaid.co.uk

[BDCS]

Lloyds were pants - with A & L now and no complaints, free banking and all done in the village post office

[Joe H]

I am now with A&L and, yes, you get free banking, subject to certain criteria ie banking £1000 per month.
If I go to the posty office with cash, its in my account straight away and showing on the computer.
I suspect Abbey will change too cause they both part of Santandar

Coop is cheap and if with Federation of Small Businesses then its free too.

The Inland Revenue will probably look closer if you dont have  a business account and thye do a check ie are you putting all business transactions thro the business.

[stalwart]

My Abbey business account has been tops,never had a problem,only thing you cant use is the counter,all has to be done throught the ATM,5 days to clear a cheque,2 days if you deposit cash,str8 into account,and about 3 hrs if you do the lot online,just my esp

[kordun]

How many of you self employed window cleaners, car valeters, patio cleaners, carpet cleaners etc actually have business bank account. HSBC is charging me £0.74 for every cheque i put in, £0.32 for direct debits, 2% for every cash transaction etc

Do you offer payments on your website or you have Debit and credit card processing machine and do you charge your costumers that percentages that bank charges you 2-3%

[BDCS]

I got my card machine through the FSB and customers pay no extra. I think the only way to do it is with a business account and a chartered accountant. It's far easier to go out and do what I know, work my gear and earn the money and just pay the accountant bill,  they earn every penny in tax savings