Quantcast

Business Bank Account?Taking card payments

SalonGeek

Help Support SalonGeek:

Terese

Well-Known Member
Joined
Jun 18, 2007
Messages
758
Reaction score
19
Location
gloucestershire
Was wondering how many Mobile therapists or indeed salon based therapist use a Business Bank Account and any problems they have encountered. With taking card payments which server do you use, any problems are you thinking of changing? thanks in advance all :eek:Teresa
 

hippy-chick

Well-Known Member
Joined
Sep 20, 2007
Messages
5,055
Reaction score
200
Location
www.guruholistictraining.com
I hold 2 current accounts. One is my personal account the other I opened saying it was for bills but I use it as my business account. I haven't had a problem yet.

I only take cash or cheque.

sorry.
 

Bev Rose

Well-Known Member
Joined
Aug 26, 2004
Messages
3,482
Reaction score
192
Location
Lincolnshire
I have had a buisness account for 3 yrs almost.
The first 18months were free, but now i pay charges:irked: you have to pay for every cheque that goes in, every cash amount that goes in, it's a pain.
I'm about to cancel it and use an old personal account I've got.
ps: Don't take cards btw
 

hippy-chick

Well-Known Member
Joined
Sep 20, 2007
Messages
5,055
Reaction score
200
Location
www.guruholistictraining.com
yes, go for another current account. I put a few cheques in every week and have not been charged for them.
When out shopping I use my personal debit card for my things, and my other debit card for all things work-related.
 

Nicki-Marie

Well-Known Member
Joined
May 7, 2007
Messages
835
Reaction score
16
Location
Midlands
I have personal account for my own use. And a business bank account for the salon. Id be a little worried about using a personal account for business use. Surely as time goes on they will be wondering where this money is coming from? Especially as it increases. Just a thought. I find it easier with seperate accounts, less confusion when doing my books and such. Ive just sent off forms to accept card payment at the salon. No problems with anything regarding my banking. With setting up a business acount you are given a business account manager, now mine is fantastic shes always in touch and is based where i live so if i need to see her i can. I cant speak for all account managers, but in my case ive been lucky.
 

Polished10

Active Member
Joined
Jun 29, 2004
Messages
42
Reaction score
5
Location
South East
Abbey National do free business banking for life, you can depoist 100 cheques a month for free and 3k cash a month for free. Not too sure what the charges are after this though. www. anbusiness.com
HTHs
 

Nicki-Marie

Well-Known Member
Joined
May 7, 2007
Messages
835
Reaction score
16
Location
Midlands
Ive also heard about this through someone else who has decided to bank with them. Worth looking into!
 

Martigirl

Well-Known Member
Joined
Feb 22, 2005
Messages
2,620
Reaction score
138
Location
Scotland
I am with Abbey and it works fine for me
 

oey

Well-Known Member
Joined
Nov 24, 2005
Messages
6,161
Reaction score
255
Location
Cheadle, Stoke on Trent. UK.
I do my business banking with HSBC and it is free of charges for 18 months, with an option after that to convert it to a postal business account which also has no charges.

I do have the HSBC card processing system too for which i had to pay a lump sum initiallly and also pay about 2% charges of all payments that go through this system.

I have definatly found that having the card processing system has increased my sales of treatments and retails sales greatly so i definatelt think it is worth having in a salon situation.
 

Sara Satchell

Well-Known Member
Joined
Apr 14, 2004
Messages
563
Reaction score
33
Location
Near Chester
I have had a buisness account for 3 yrs almost.
The first 18months were free, but now i pay charges:irked: you have to pay for every cheque that goes in, every cash amount that goes in, it's a pain.
I'm about to cancel it and use an old personal account I've got.
ps: Don't take cards btw
Hi Bev - Are you with HSBC by any chance? If so, ask to be switched over to First Direct. Still HSBC, you keep the same account, same DD's & SO's but it is internet based , and most importantly - FREE!
 

bombini

Well-Known Member
Joined
Mar 24, 2006
Messages
3,550
Reaction score
186
Location
Warwickshire
Hi Bev - Are you with HSBC by any chance? If so, ask to be switched over to First Direct. Still HSBC, you keep the same account, same DD's & SO's but it is internet based , and most importantly - FREE!
Have first direct started doing business banking now ? I have current account with them and as far as i was aware they don't offer business banking.
 

Sara Satchell

Well-Known Member
Joined
Apr 14, 2004
Messages
563
Reaction score
33
Location
Near Chester
Yes - and I have it on good authority - My sister is the area business manager for HSBC!
 

bombini

Well-Known Member
Joined
Mar 24, 2006
Messages
3,550
Reaction score
186
Location
Warwickshire
Yes - and I have it on good authority - My sister is the area business manager for HSBC!
Is it new then ? There is nothing about it on there website....
 

eroom

Well-Known Member
Joined
Dec 17, 2003
Messages
147
Reaction score
0
Location
Doncaster
Alliance & leicester also offer free banking for life, and you can pay into any branch or post office.
 

Sara Satchell

Well-Known Member
Joined
Apr 14, 2004
Messages
563
Reaction score
33
Location
Near Chester
Is it new then ? There is nothing about it on there website....
I texted her last night and she says not, but I can't find anything on the web either. No doubt I will get an info pack in the next week or so so i'll let you know.
X
 

Terese

Well-Known Member
Joined
Jun 18, 2007
Messages
758
Reaction score
19
Location
gloucestershire
Wow thanks guys for all your replies, It was good for me to read them and your views.
I will have a look around at the accounts mentioned and see what they are offering. My uncle is self employed and paid his business cheques etc into a different current account.One day he went in to bank and they asked him to convert to business banking, he obviously refused (he has been paying in for over 20 years), I dont think they can force you?

HSBC and First Direct look pretty good, do you know if they would charge then for paying cheques into the bank? as if its internet based it would be difficult to do.

I am going to ask about the card payment scheme Theresa as I do think there are gains to be had, however does the 2% seem quite steep to you?

regards to all
Teresa:)
 

oey

Well-Known Member
Joined
Nov 24, 2005
Messages
6,161
Reaction score
255
Location
Cheadle, Stoke on Trent. UK.
Wow thanks guys for all your replies, It was good for me to read them and your views.
I will have a look around at the accounts mentioned and see what they are offering. My uncle is self employed and paid his business cheques etc into a different current account.One day he went in to bank and they asked him to convert to business banking, he obviously refused (he has been paying in for over 20 years), I dont think they can force you?

HSBC and First Direct look pretty good, do you know if they would charge then for paying cheques into the bank? as if its internet based it would be difficult to do.

I am going to ask about the card payment scheme Theresa as I do think there are gains to be had, however does the 2% seem quite steep to you?

regards to all
Teresa:)
I used to work for a Building Society and if they suspect that the account is being used for business purposes and not personal they can if they so wish close the account down, cause you are conducting the account against the terms that were specified.

HSBC normally have an amount of free banking time for business accounts so have a look at there web site for current details.

As regards the 2% transaction cost - say for example you gain an additional spend in a week of £100 that wouldnt have happened without the card processing system the 2% has cost you £2 for the extra £100 in sales so i definately think it is good value for money.

Say you do a set of enhancements for £35 - the 2% charge would be 70 pence (I think) - it would cost me more in petrol to go to the bank! The number of times that a client has had an extra treatment done or bought retail stuff (which they wouldnt have done with me accepting their card) happens every week, so from my point of view it was worth me taking the risk and taking the machine on.

I cant answer from a mobile point of view though as I am salon based. Is there any mobile therapists out there that have card processing or know anybody that does.
 

beautyseeker

Well-Known Member
Joined
Sep 24, 2007
Messages
753
Reaction score
15
Location
Fife, Scotland
I have a current account with First Direct and pay my cheques in through the post office, as living in Scotland there is only one branch in Edinburgh where you can pay them in directly. :hug:
 

Terese

Well-Known Member
Joined
Jun 18, 2007
Messages
758
Reaction score
19
Location
gloucestershire
Theresa, Hsbc seem pretty good with the stream line system. I have rang allliance and leicester up and they are processing me at the mo...takes about 20 days! nightmare, havent heard yet from the card people but like you say I would def miss out on retail opportunities...cheers all:):):)
 

jo-from-moorspa

Well-Known Member
Joined
Jun 25, 2007
Messages
226
Reaction score
11
Location
sussex
If you are looking at taking card payment then the bank you go to may want some form of security off you.

Jo
 

Latest posts

Top