Cash

[Flintstone]

Charge more for accepting cash ?

 

[John Benton]

Well say I do a job that I invoice for £1000 and the customer pays by cheque, it costs me 53p to bank the cheque, bank transfer is free and if the customer pays cash it costs me 38p per £100 I bank, therefore that job has cost me £3.27 more for cash, hence I should be charging more for a cash payment

 

[Flintstone]

I think you need to change banks!

 

[John Benton]

I think you need to change banks!

What bank charges are applied to you at moment then?

 

[Andy Allen]

Do you have to use a business account?
Can you just use a current account?

 

[John Benton]

I do use a business account to which charges are applied, I suppose a current account would be free. Not sure how you would get round having a personal account with a business name though to avoid charges

 

[White Room]

I'm just trading as and use my current account as my name not trading as.

 

[John Benton]

I'm just trading as and use my current account as my name not trading as.

So no charges at all?

 

[White Room]

So no charges at all?

That's right no charges, did speak to my accountant about it and he just said stick with your currant account.

 

[Andy Allen]

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