JD™ Posted August 25, 2010 Report Share Posted August 25, 2010 Long shot, but TF does seem to know all... I forgot to ask when I was in the bank earlier, and don't seem to be able to find anything online about it. Don't wanna phone up and go through all the menus banks have... I'm a personal account holder, because I haven't got round to setting up a business account yet while there's still relatively small amounts of cash going through the business. I'm not a limited company, just trading as fifty6 Marketing. When I'm receiving cheques off customers at the moment, I'm having to get them to write it out to me personally which takes away from the credability that I'm trying to build a little bit. Does anyone know if I can get them to write it out to fifty6 Marketing and still pay it into my usual account? If not, I'll just open a business account, but it's all about getting the time to at the moment! Quote Link to comment Share on other sites More sharing options...
Muel Posted August 25, 2010 Report Share Posted August 25, 2010 You need to open up a business account in the trading name of the company. I was going to, but I'm a sole trader under my own name so there's no need. The tiny amounts of money I've earnt make it seem kinda pointless to open one too. Quote Link to comment Share on other sites More sharing options...
JD™ Posted August 25, 2010 Author Report Share Posted August 25, 2010 You need to open up a business account in the trading name of the company. I was going to, but I'm a sole trader under my own name so there's no need. The tiny amounts of money I've earnt make it seem kinda pointless to open one too. This is part of it though, by not being incorporated as a company yet, I wanted to hold off on the business account until I went Ltd rather than switch it all over again when that time comes. I figured that because I'm a sole trader trading as fifty6, I'd be able to take cheques in the business name as long as I had a card on me or something. If not, no biggy. Quote Link to comment Share on other sites More sharing options...
Dr. Nick Riviera Posted August 25, 2010 Report Share Posted August 25, 2010 Which bank? why not phone and ask them? Quote Link to comment Share on other sites More sharing options...
arw_86 Posted August 25, 2010 Report Share Posted August 25, 2010 i know how you feel man, im self employed and when i get asked who i should write the cheque to and i just say my name i think, they think im just paying it into my own account and avoiding tax. But i do have a seperate account which all my business goes through but its still just in my name and not classed as a business one. i guess an advantage to the 'business' account is you can have your business name and i guess some support? Although for me its not worth as they charge for every deposit and withdrawl. Whereas now they do not. banks dont like you using a personal account for business i found, just as its a legal way of avoiding charges so dont expect them to be too helpful if you ask. Quote Link to comment Share on other sites More sharing options...
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