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Bank account for self-employment
Dannydee333
Posts: 164 Forumite
I want to open a separate current account to get paid for doing self-employed / contract work. The company I do contract work for is in the US and pays me in Sterling through Wise (formerly transferwise).
Currently, I'm using one of my personal accounts but I want to have a dedicated account for contract work, set up in time for being paid next month. I'll then transfer my self-employment earnings over to it. I'd just like to keep them separate.
I'm in the UK (Northern Ireland). Who do you use, or who would it be wise to bank with for this purpose? I've been looking at some of these popular digital banks like Starling but my instincts tell me it would probably be a better idea to open an account with a physical bank local to me.
(Ps. I have a vacant business account but I'm not planning on using it for this)
Currently, I'm using one of my personal accounts but I want to have a dedicated account for contract work, set up in time for being paid next month. I'll then transfer my self-employment earnings over to it. I'd just like to keep them separate.
I'm in the UK (Northern Ireland). Who do you use, or who would it be wise to bank with for this purpose? I've been looking at some of these popular digital banks like Starling but my instincts tell me it would probably be a better idea to open an account with a physical bank local to me.
(Ps. I have a vacant business account but I'm not planning on using it for this)
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Which banks do you have locally? & why don't you want to use your existing business account - given you'll need a business account for this?Dannydee333 said:I want to open a separate current account to get paid for doing self-employed / contract work. The company I do contract work for is in the US and pays me in Sterling through Wise (formerly transferwise).
Currently, I'm using one of my personal accounts but I want to have a dedicated account for contract work, set up in time for being paid next month. I'll then transfer my self-employment earnings over to it. I'd just like to keep them separate.
I'm in the UK (Northern Ireland). Who do you use, or who would it be wise to bank with for this purpose? I've been looking at some of these popular digital banks like Starling but my instincts tell me it would probably be a better idea to open an account with a physical bank local to me.
(Ps. I have a vacant business account but I'm not planning on using it for this)
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Definitely Starling for me.
1. It's free2. Immediate notifications3. I can pay cash in at the Post Office4. I can pay cheques in using the app
If you want a bank with a high street presence you will need to see who is available near you, especially considering some of the usual ones aren't available in NI.
Any why don't you use the one you have available?1
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