Investment Club bank account
in Budgeting & bank accounts
4 replies 182 views
Hi. If I were to arrange for the investment club subs to be paid into my Lloyds Bank personal account, would the bank now consider the account to be a business account? The subs are six payments totalling £250 per month and that sum would immediately be transferred to the investment platform. Thanks
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You’ll need a basic legal agreement that covers how the club is run. You’ll also need to set up a bank account to collect regular contributions and a share dealing account to buy and sell your investments.”