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Any bonuses for self employed?
missing_string
Posts: 110 Forumite
Hi all,
My mother is self employed, and is potentially looking to switch banks. Looking at the best bank account on the site, most of them require a minimum payment per month and I remember seeing that these have to be paid in directly by the employer, rather than cash/cheque.
She also has some money to save so the Santander one looks quite good, but it looks like it won't be an option because of the "pay in" per month requirement.
Are there any accounts out there that come with a bonus that she would be able to apply for?
My mother is self employed, and is potentially looking to switch banks. Looking at the best bank account on the site, most of them require a minimum payment per month and I remember seeing that these have to be paid in directly by the employer, rather than cash/cheque.
She also has some money to save so the Santander one looks quite good, but it looks like it won't be an option because of the "pay in" per month requirement.
Are there any accounts out there that come with a bonus that she would be able to apply for?
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Comments
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Open an account for yourself and an account for the business and transfer at least the minimum funding requirement each month from the business to the personal bank account. If it isn't enough then send some back and forth until the requirement is met.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0 -
The minimum pay-in requirement is generally based on the total credits during the month - so includes both cash and cheque credits, as well as electronic ones.
For both the Halifax (£750/month) and Nationwide (£1k/month) accounts, all that happens if you don't meet the pay-in requirement is that you don't get the Reward/interest for that month only.0 -
No, they can be funded from any source. I don't know of any account that specifies the funds must come from an employer - the main problem being that they couldn't tell if they weren't, for that matter.missing_string wrote: »Looking at the best bank account on the site, most of them require a minimum payment per month and I remember seeing that these have to be paid in directly by the employer, rather than cash/cheque.0 -
Open an account for yourself and an account for the business and transfer at least the minimum funding requirement each month from the business to the personal bank account. If it isn't enough then send some back and forth until the requirement is met.
Problem with that is there are few if any non-fee paying business accounts around. If you can find one I'd love to know - I'm in need of one.0
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