Best Bank?

[JimM]

why cant we just have two personal accounts one for buisness and one for pleasure, if they were with different banks nobody would know surely. And anyway they cant force it.

 

I asked the same of my accountant. Apparently a couple of banks have taken the hump with customers doing this. When they figured it out they charged business banking fees retrospectively.

 

How true that is I don't know, but happy to follow his advice. Got to believe someone at some stage. It's why I'm on this forum

[Matthew Storrs]

Thats fair enough but it irritates me that if your employed you don't get charged every time your boss pays you into a personal acc, so why should i have to pay everytime i put a chque in or withdraw or whatever. they stink.

[JimM]

they stink.

 

Yup, and when they fail they get propped up by the government, while everyone else collapses.

[smiles]

Mine runs through a personal account with Barclays - I couldn't see the advantage of a business account in my situation,as a Sole Trader,and the advisor struggled to persuade me - though he did say they may question it if the cheque traffic got excessive (it hasn't!) all seems OK,but haven't needed much in the way of financial services from them really!

[Matthew Storrs]

yes and especially if you can get some of your customers to pay you online it mixes things up a bit so they can't tell whats what.

[smiles]

Yeah,more and more online transfers,definately the best way to go - but the account is run above board along with another account that I have used for personal stuff for years

[farmer_ben]

its alright doing it through a personal account until you need help from the bank i.e small business loan or emergency overdraft, they wont be so keen to help then i bet.

 

i questioned whether a business account was worth it myself to start with but advice from account was to keep it strictly business and use business account. most banks do them for 2 yrs free anyway.

[skyhuck]

My Santander business banking is free (and not just for a start period) they also pay me interest on my balance.

[Mark James]

My Santander business banking is free (and not just for a start period) they also pay me interest on my balance.

 

Same here that's who I use no problems with them so far, like everything else as long as you sick to the rules it's all good.

 

 

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[Tom D]

I have heard that big businesses like supermarket chains etc change banks regularly, in order to keep them on their toes.