Business bank account

paula805 · 4 February 2017 at 10:48AM

I'm looking to start my own business but it will be small, i don't want to pay for a business account. Is there a way i can open a personal account but in the name of the business? I want to keep my finances separate tot he business. Thank you

antrobus · 4 February 2017 at 11:03AM

paula805 wrote: »

I'm looking to start my own business but it will be small, i don't want to pay for a business account. Is there a way i can open a personal account but in the name of the business? I want to keep my finances separate tot he business. Thank you

What kind of business?

If it is a limited company then you will need a bank account in the company name and it will have to be a business account.

If you are a sole trader and try to open a personal account in the name of paula805 trading as 'Magicbeans' or whatever, then even the dumbest of dumb banks will recognise that you want a business account, and insist on it.

So I would guess the answer would likely be no.

Sparx · 4 February 2017 at 11:17AM

Do many banks not offer free banking for the first 12 to 24 months anyway? Depending on who you go with... Best option would be to do it right, just take up the free banking offer.