RBS Business Account

treeboy_3

I currently have a business account with RBS. Are there similar accounts that don't charge. I'm not convinced I really need it either, i.e. Could I just use a current account? Some advice would be appreciated. Thank You

Kilty_2

Abbey don't charge for business banking but you can only make deposits / withdrawals through their ATMs / post / etc.

No counter facilities.

You could use a current account but it's against the T&Cs in most cases (if you don't have a high turnover thats not important). Make sure you keep business and personal completely seperate if you choose to go down that route.

Business account is better since you can have your trading name on cheques / etc and be paid to that name. (Assuming you are a sole trader. If you are trading as a LTD company, you need to have a business account).

jonesMUFCforever

treeboy wrote:

I currently have a business account with RBS. Are there similar accounts that don't charge. I'm not convinced I really need it either, i.e. Could I just use a current account? Some advice would be appreciated. Thank You

What goes through the account?
What sort of business is it?
Do you pay a lot of cash and cheques in and get a fair bit of change from the bank?

Also remember that your bank charges are tax deductable as they are a legitimate business expense.
Your bank may not let you operate a personal account for business purposes but it does happen if you only pay a small amount of low value cheques and cash in.