Banks declining me Left, Right, Centre!!!

kamyk662

ok so i will order my CIFAS info on monday.

TSB did say it wouldnt affect my credit report.

So applying for lots of current accounts is not good is it? can they class that as fraud?

and sending regular payments via western union, am i not allowed to do that with a personal account??

staffie1

kamyk662 wrote: »

So applying for lots of current accounts is not good is it? can they class that as fraud?

No, but it seems suspiscious.

kamyk662 wrote: »

and sending regular payments via western union, am i not allowed to do that with a personal account?

You're not allowed to use a personal account for business use.

chanz4

have you registered your earning with HMRC?

kamyk662

chanz4 wrote: »

have you registered your earning with HMRC?

hi no i have not, i have just started selling online, and may consider doing it for some time if i cannot find a job, but i have looked into declaring myself self employed, but currently my status is unemployed.

kamyk662

staffie1 wrote: »

No, but it seems suspiscious.



You're not allowed to use a personal account for business use.

So i must open a business account? can i get one without having to be registered as a LTD company?

tagq2

kamyk662 wrote: »

So i must open a business account?

The T&C of most personal accounts seem to say no business use. For a sole trader it's not clear how to define business use. For example, if you sell stuff from time to time on eBay and sweep funds from your Paypal account into your personal account then, well, that's just personal income. But if you use your debit card to pay for postage, isn't that using the bank account for business purposes? What if you use your personal account to pay a credit card on which you've put business expenses? Will they care? Not if it's a few quid every so often, but certainly if you're moving thousands of quids a year.

can i get one without having to be registered as a LTD company?

Yes. Some business accounts may be reserved for limited companies but many aren't. Recall that registering as self-employed simply means registering with HMRC for class 2 liability (which you can then immediately apply from exemption from if you're going to be earning under £5315/year) and having to complete a yearly tax return. There used to be a fine if you didn't do so within 3 months but now IIRC it's an issue only if you would have had anything to pay had you registered before [some limit] (this is good because the former rule essentially discouraged people from going legit!).

jonesMUFCforever

kamyk662 wrote: »

hi no i have not, i have just started selling online, and may consider doing it for some time if i cannot find a job, but i have looked into declaring myself self employed, but currently my status is unemployed.

Are you on jobseekers or other benefit?

kamyk662

jonesMUFCforever wrote: »

Are you on jobseekers or other benefit?

no. none at all.

kamyk662

does anyone know the tsb address to which i send the letter to?

is it this - >

Compliance Dept.
Mountbatten House
Military Road
Chatham
ME4 4JF

auto-man

You know Ulster Bank is part of RBS so expect that to be closed as well, if they as a bank hate you that much!