Sole Trader

Springer53

Can anyone help as cheques are now not guaranteed I can only accept cash with new clients or I have got to look at card service companies, like streamline.

My problem is as a sole trader I run a separate bank account to keep costs down, but as this is not a business account I am finding it hard to find an alternative with regard to taking payments. Can anyone
help :

steve1980

BACS?

What business do you run? Should be running a business account, not a personal one.

Horace

If you join the FSB (Federation of Small Businesses) you can get free business banking via the Co-operative and you get discounted credit card terminals. Cheques are not disappearing so you can still accept cheques and pay them into the bank.

Ideally, if you are running a business you should have a business bank account because it makes you look a bit more professional and more trustworthy.

Premier_2

Springer53 wrote: »

Can anyone help as cheques are now not guaranteed I can only accept cash with new clients or I have got to look at card service companies, like streamline.

My problem is as a sole trader I run a separate bank account to keep costs down, but as this is not a business account I am finding it hard to find an alternative with regard to taking payments. Can anyone
help :

As others say, get a business account now before the banks turns your personal one into a business account.

Cheques were often only guaranteed to £50 with a cheque guarantee card (although some bank accounts offered a greater level)
If this is face to face transactions, either take cash only or ensure you have their name & address and carry on taking cheques from those customers who you can trust.
You could take postal orders.
If all else fails, do not release goods until payment has cleared
Have you considered postal orders and/r bankers drafts?

If it's not face to face transactions, there's no difference
(Cheque guarantees only work with face to face transactions)

crazyguy

As above posts or bacs/chaps payments