Natwest Business - Changing account number?

SurgeUK

Hello all,

I have been in business now since 2011 running my web hosting business. In the past however, I've had a few problems with PayPal, and now can no longer have an account in my name. (My Dad had to open an account for me for my business).

It's all good, but when I go to withdraw the money I have to send it to my Dad's bank account which is not ideal. Because it is a PayPal business account they will allow me to add my business account but because I linked it to a previous PayPal account they won't allow me to.

The only solution I can come up with is getting a new account opened or getting a bank account number changed so I can add it to PayPal.

It isn't ideal to send money to my dad's bank account and then having it transferred to my business bank account. Would the bank do this for me?

Zanderman

Don't know about changing account numbers - but I doubt they would do that without good reason (and your reason might not be good enough for them) or perhaps without charging a fee. But others may have actual experience of this.

Getting a new account might be more straightforward, though if you're going to use it for business you really ought to be getting another business account and you might not want to leave NatWest (depends on your deal there - worth noting that Yorkshire Bank are/were offering a 25 months free business banking deal for switchers recently). That would take time to organise of course (esp if with the ever-so-slow Yorkshire Bank).

A personal account would be quicker to open and use, but you risk breaking the T&C if the bank detects/suspects it is being used for business transactions and they could close it (this risk may also apply to your Dad's account on your current arrangements if that's a personal account).

Though if most of the business is conducted by paypal and the only use of the bank account is for withdrawals that business use might not be obvious (to the bank).

SurgeUK

Thanks Zanderman this has helped a little bit. I would like to use another merchant provider but in the web hosting industry PayPal is used the most, and it is the only merchant (to my knowledge) which gives you instant access to the money you receive, and I get my hosting servers from another provider which requires money upfront.

SurgeUK

Update:
Just to let you know, I've now got an account with Santander and used the switch account guarantee.

Thanks for your help