Help, need a cheque cashed or business account

thewilf

Hi All,

In debt so am doing so work on the side to get the extra cash needed to pay off my debts. First client has paid me with a cheque made out to company name and not me as per invoice.

Credit history is bad so worried I am going to struggle to get the Natwest foundation account, does anyone have any idea if I could cash a cheque in my business name anywhere with VAT certificate etc...? Obviously will try to get business account first.

Cheers
Will

seven-day-weekend

Can't you ask the client to issue another cheque made out to you personally?

thewilf

I would normally but it took 1.5 months for this one to come out and was desperate for the money now, laptop has died and as a software developer need to get new one to continue with project. It's part of a contract that's been delivered early. I hope the bank will be able to use some common sense as I want an account with now borrowing and have a 1.5k cheque there ready to pay in.

Cheers
Will

System

Hang on. You have a company, it appears to be VAT registered from what you say and you don't have a business account?

thewilf

Hey,

That's right, I am self employed and VAT registered. Trying to set up bank account but in the interim need to do something with this cheque.

Cheers
Will

thenudeone

Something's confusing here.

Are you a self-employed sole trader OR do you have a limited company set up; or both?

A limited company has a completely separate legal identity to its owners, shareholders, directors, or employees, even if one person is the only person in all four positions.

If a cheque is made payable to a limited company, you can't cash it personally.

coldhandoff

I can't imagine you would have any difficulty in getting the foundation account.

JuicyJesus

coldhandoff wrote: »

I can't imagine you would have any difficulty in getting the foundation account.

Yeah, as much as the OP says they're "trying" to get an account it doesn't appear they've been trying very hard, seeing as they've been running a business for over one and a half months and still don't have one.