Business bank account for BR

fiveyearplan

If any of you are self employed how do you do your business banking once BR? I need an account where I can pay in cheques and possibly take credit/debit card payments and don't see how I can do this once I have been declared BR. I've looked at basic accounts (personal ones) and they say they are not for conducting business.

Any advice?

fermi

I've seen it posted that it's OK to use one of the basic accounts if you are self employed.

You just need to make sure you're not running a multinational out of the account.:rotfl:

Seriously, someone posted on here or elsewhere some info from a small business advisory site about this sort of thing a while back. Can't find it at the moment, but I will have another hunt later if no-one posts any better info.

fiveyearplan

You just need to make sure you're not running a multinational out of the account.:rotfl:

Thanks Fermi. No chance of it being multinational at the moment! Just a bank account to deal with cheques and card payments will be fine.

rog2

fermi wrote: »

Seriously, someone posted on here or elsewhere some info from a small business advisory site about this sort of thing a while back. Can't find it at the moment, but I will have another hunt later if no-one posts any better info.

I'd be very interested in that too, fermi. I was thinking of asking my sister, who is a chartered accountant, to take on the role of 'Company Secretary' and negotiate a normal business account, then add me as a signatory.
She will be doing my accounts, anyway.
But I'm still quite a way from my set-up. My 'suppliers' have put a few 'bargain' machines at my disposal, which I am mailshotting. I hope to use commission gained from the potential sale as 'start-up' finance.