Being able to ask customers to make cheques payable to "my biz name"

bikerchris

Hi all,

Just wondering, is there any way of letting my customers pay cheques to "my business name", but not having to become an actual company? Are there accounts that allow you to include a 'trading as' name, as well as personal name?

It's just a small touch, but I don't want to have to create a company and go through the Ltd stuff. I also want to continue doing my own accounts and have read in various places, that once you become LTD or LLP, the maths is complicated and needs to be done by an accountant. My type of business only receives around 2 payments (coming in) a month.

Any help very much appreciated.

paddyrg

Ask your bank about a business account Bikerchris t/a megabikesdiscountwarehouse.com or whatever - shouldn't be a problem

bikerchris

paddyrg wrote: »

Ask your bank about a business account Bikerchris t/a megabikesdiscountwarehouse.com or whatever - shouldn't be a problem

Thanks Paddy I asked first direct (who I'm with) and they said they don't offer biz accounts. I'm going to try Nat West as there's a branch within walking distance (and I always need a good walk!).

My business is actually in the Architectural Extension/New Build design sector - but good guess all the same

WLM21

I think most banks will give up to one year without charges, as long as you stay in credit.

Santander used to offer a 'free for life" business account. The only snag is that you have to do all your banking through the 'hole in the wall' with cheque payments that shouldn't be a problem. Probably worth making a call to them.

Todd luck in your venture

bikerchris

WLM21, can you have a business account without going to companies house and doing the LTD/LLP stuff?

Sorry for my lack of knowledge!

WLM21

bikerchris wrote: »

WLM21, can you have a business account without going to companies house and doing the LTD/LLP stuff?

Sorry for my lack of knowledge!

Yes, I had an account quite a few years ago. It had my name, then T/A blah blah blah next to that. You see, I was trading as blah blah blah.

It is probably the same now .... Give Santander a call on Monday

paulofessex

bikerchris wrote: »

WLM21, can you have a business account without going to companies house and doing the LTD/LLP stuff?

Sorry for my lack of knowledge!

Yes you can, l have a business bank account with Lloyds, l am a sole trader, the cheque books and debit card displays

'my name' T/A 'my business name'

This enables cheques to be made out to my business name. With Lloyds l pay a flat £5 service charge per month then approx. £0.50 per cheque paid in.

Just pop into a local branch and ask about setting one up, tell them your not looking for a loan or company credit card etc

Mistral001

See your bank as others have said. It will be just an arrangement you have with your bank. It does NOT bring the business into existance as an entity. You will still be personally responsible for paying all moneys owed.

Edit forgot about the "not". Sorry

bikerchris

Thanks Paul and Mistral, very much appreciated. I'll get onto it on Monday "thumbup".

phill99

If you want a basic FREE business account, then try Santander. It is a postal account, so doesn't have any branch based activities. You pay cheques/cash in via the Santander cash machines. Also they supply free envelopes so you can post cheques to them. They have a telephone service so you can pay bills etc or discuss any aspect if your accounts they also have Internet backing so you can do transactions on line.

They don't charge you to deposit funds or write cheques etc. so it it is permanently free unlike the high street banks, who charge an absolute fortune to businesses.

Savvy_Sue

I thought - and I might have misunderstood this - that the 'free for life' biz bank a/c from Santander was no longer available to new customers.

There was a big fuss when they said they were going to start charging, after which I thought they backed down for existing biz a/cs, as long as no bells and whistles were required. New accounts - I thought - were now required to accept the bells and whistles, and to pay accordingly!

However, I didn't follow the story too closely as the closest I've come is via my late father's estate, and that was close enough!

Having said all that, it sounds as if having a local branch isn't essential, and that banking by post / internet would do the job for you. Worth checking which ones have a free introductory offer, and then what their charges would be for your kind of banking. Some will charge per withdrawal, others also charge per deposit, and the charges vary according to whether it's a cheque, BACS, DD, SO etc.

But if you want to accept cheques 't/a', then you do need a biz a/c. If First Direct can't offer that, you do need to shop around.