Using current account for our business monies??

nooksky

Hi, my partner and I have 2 current accounts with A&L:

1 for me, i am employed full time and my wages go in then most goes back out to our seperate bills account with Lloyds

The second is for my partner who is self employed and pays all his earnings in and we basically use it as a current account, so we withdraw money as and when we need it. He doesnt pay himself an actual wage as such.

I was wondering if this is an ok way to use this second account, or whether we should really keep our day to day spending seperate and pay him an actual wage.

The reason this has come to light is because we are planning on closing his account with alliance and leicester due to charges and lack of customer service, and before I set up a new account I want to make sure we are getting the right one. We are thinking of going back to Lloyds or Natwest.

Thanks in advance!!

Zebedee69

Business Accounts always charge! Lloyds are rubbish I just sent off the cancellation form for an old business account today... Again like A&L no customer service and if you apply for anything it has to go via your business manager. Very annoying and he just says no to everything! So iv cancelled and put my personal account back to Classic Plus.

Since doing this iv gotten my O/D back....

Go figure, you would think business men get better treatment. Maybe not.....

So stick it in personal, pay your tax as though he is just self employed and not a business.

Just make sure you apply for any cards eg: Makro etc etc before you cancel as you will need your company cheque book to apply for them once you have applied cancel everything!!!

Rant Over!

Id Go Natwest Personal A/C if I was you..........

oldfella

the usual advice is to keep personal and business separate - Abbey offer free business banking - its basic but OK

Mike