Cash

[magga]

As others say, just use a current account, no fees. You don't have to use your personal account, just setup another. TSB give 5% cashback on up to £100 of contactless payments a month on their classic account too, so there's a free fiver a month there. Plus they pay very good in credit interest!

 

[Andy Allen]

A quick Google and found out there's no legal requirement to have a business account if your a sole traders or in a partnership......only if your a limited company.

 

[hmtiling]

same as, same as

Same as, same as, same as

 

[Ian]

I got rid of my business account a couple of years ago, it wasn't getting used that much as any BACS I just had paid straight into my personal account so I wasn't forever moving money around. Even though the account was inactive, I still got charged a fiver a month fees and ended up owing them. That was when I just closed it down.

 

[One Day]

I got rid of my business account a couple of years ago, it wasn't getting used that much as any BACS I just had paid straight into my personal account so I wasn't forever moving money around. Even though the account was inactive, I still got charged a fiver a month fees and ended up owing them. That was when I just closed it down.

Ditto. I got hit with a 25 quid fee for a mastercard I didn't want, ask for or ever use!
After complaining they refunded it - to the card!
To get my 25 quid back I would have to activate and use the card, then get charged 25 quid for using it!
After trying to sort that mess I simply closed the account.

 

[Viceroy]

Separate current account for business. No issues, no fees!

Exactly! 2 separate current accounts one for business, and one for personal, no charges whatsoever ;-)

 

[blue_max]

Perhaps if you don't provide a receipt, there is no come-back. Tiles are on the wall - for now

 

[Kyle Knowles]

Perhaps if you don't provide a receipt, there is no come-back. Tiles are on the wall - for now

Tut tut surly no one would do any work and not declare it then pocket the money ???

 

[MW Smith Ceramics]

Must admit get Really peed off with the banks excessive charges on a business account....seems you get charged for anything and everything!!

Yep, business accounts are expensive over the year , I use a current account - ( no charges ) - happy days

 

[andyb1]

I have 2 current accounts with different banks, one as a personal account and the other for business,

 

[On one]

The time is surely coming that all Banks will charge you a monthly fee for operating a personal or business Bank account, so basically charging YOU for having access to YOUR money.
Cash, here we come?

 

[White Room]

The time is surely coming that all Banks will charge you a monthly fee for operating a personal or business Bank account, so basically charging YOU for having access to YOUR money.
Cash, here we come?

Santander does, £5 a month....

 

[John Benton]

They'll all be charging, I'm surprised after the 2008 it wasn't the first thing they did, may as well hit the customer, we've being doing it for so long, the mugs will just pay it!!!

 

[WetSaw]

I don't know of any free banking here. My current account has a quarterly fee of €24 plus an annual charge for having a debit card.

 

[White Room]

I don't know of any free banking here. My current account has a quarterly fee of €24 plus an annual charge for having a debit card.

Thats a joke...charged for spending your own money.

 

[John Benton]

Thats a joke...charged for spending your own money.

Nah they're charging you for 'looking after' your money, rather than you having it under your mattress

 

[Andy Allen]

Well I've come to a decision.
I'm going to close my business account and open up a separate current account with no charges..

 

[MW Smith Ceramics]

Well I've come to a decision.
I'm going to close my business account and open up a separate current account with no charges..

That's what I did, they cost too much, we are only independent fixers, current account with no charges for me

 

[bl tiling]

I am a Ltd Co and have been for 12 years... during the recession got P....D off with bank charges, had a word with my accountant he told me I HAD to have a business account under BL Tiling Ltd but could use my personal
account for ALL my banking it wasn't against any tax laws etc so that's what I ve done ever since so all my cheques are made out to me personally all my card payment to CTD etc are out of it too I obviously declare all my cash which is still about 60percent of my turnover and I have saved myself a fortune in bank charges an odd time I will get paid by cheque to BL Tiling Ltd I just pay that into my business account and draw some spending from it;it is declared too at year end.

 

[blue_max]

Tut tut surly no one would do any work and not declare it then pocket the money ???

It wasn't really the not declaring it aspect I was suggesting. It was the fact that if someone gave you cash and there was no receipt, then the reality is there is no guarantee either.

Not that I'm suggesting there should be shoddy work in the first place.