Can you open a normal bank account for a business?

[Ako Si Jamie]

I hear this was possible some years ago but not sure now.

It entailed opening a normal account in ones name with T/A (Trading As) afterwards then the company name.

It was a way of not paying any business charges.

Is this still possible?

[imagine]

i had my own business and i wasnt required to have a business account,i didnt use a company name though,i cant remember clearly now,but i think the bank might require you do if you use a company name and or earn high amounts,

the tax man does not require it, but dont mix up your account with your personal moneys incase tax man asks to see your bank account,make it easy and uncomplicated, take out money for yourself then write the cheque to yourself, so you have a nice clean record

[Ako Si Jamie]

I just need to know if you can use your own company name for a non business account nowadays. :smile:

Thanks anyway Stew.

Actually, I've just thought. My mate's son is a bank manager. He'll know.

[DaveyWallis]

Some of the banks do free business banking. Santander do 18 months free for start up companies.

I run two business accounts for the same business to avoid charges. One is with Santander and the other HSBC. Santander's is free for life, although they recently tried to change it, but then changed their minds again.

HSBC is free as long as you don't pay in too many cheques. Their internet banking is much more sophisticated than Santander.

I do all cheques in and out via Santander and then use HSBC for internet payments, transferring money from one to the other beforehand.

Andy

[Ako Si Jamie]

Some of the banks do free business banking. Santander do 18 months free for start up companies.

I run two business accounts for the same business to avoid charges. One is with Santander and the other HSBC. Santander's is free for life, although they recently tried to change it, but then changed their minds again.

HSBC is free as long as you don't pay in too many cheques. Their internet banking is much more sophisticated than Santander.

I do all cheques in and out via Santander and then use HSBC for internet payments, transferring money from one to the other beforehand.

Andy
When I had my business account with HSBC it was only free for two years.