Do you need a 'business' account?

[shell28]

Have to have a business account or can you have a normal bank account when your setting up a business. My head is spining with all what i need to do!!

 

[loubylou]

It is advisable to have a separate biz account as it makes it easier when it comes to doing the books,
lots of banks offer this for free now,
Abbey is one of them, hth :hug:

 

[user 28883]

I just use my personal bank account, I have books to fill in but they are easy to manage and as I only work P/T I dont have Tax and I have a NI exemption certificate, really no need for me.

 

[hippy-chick]

I have 2 current accounts, one I use for business and the other for my personal use.
my personal one I pay £7 a month for extras like AA and mobile insurance and all that jazz.

 

[bombini]

I prefer having a seperate business account as you can then have cheques made payable to your business name which I think looks more professional, not that I ever get any cheques lol !

I have just changed to Alliance and Leicester which is free banking if you pay in a minimum of £1000 per month otherwise I think it it is £5 which I think is quite good as at least it is a set charge rather than varying every month.

I was with Barclays but as we moved house I found that I was having to pay £1.50 every week to park the car so I could do my banking. A&L use the post office network and I live and work by the PO and they have free parking so I can go in anytime to pay money in.

The only thing that I don't like about A&L is there online banking system I find its quite a lot of faffing about compared to Barclays and Lloyds , and ive never known an account need so many passwords I can barely get into my account let alone anyone else !!

 

[Missy G]

I was with Barclays but as we moved house I found that I was having to pay £1.50 every week to park the car so I could do my banking. A&L use the post office network and I live and work by the PO and they have free parking so I can go in anytime to pay money in.



Heh did you know you can claim for parking fees,after all its to do with the buisness.!!

 

[shell28]

Thanks for your help guys i will just open another current account seeing as i dont need a business one.

 

[blutopaz]

im currently only using a second account i opened on my personal one, never been an issue to have a business one for me, although now im getting my own salon rather then renting my chair i may think again....