Business account to a current account switch possible?

alexjuk

Hi father's health is now deteriorating. He used to be self employed so has a business account. He's distrustful of online banking so only wants to switch to banks that actually have locations he physically visit within a 10 minutes drive.

What we want to know, and have struggled to find out, is it possible to use the current account switch service to switch from a business account to a current account? Or is it only possible to switch a business account to another business account?

Thank you,
Alex

Emmia

Are you intending to also close the business, paying any outstanding taxes etc?

Have you sought advice/assistance from an accountant to ensure it's all in order.

wmb194

alexjuk said:

Hi father's health is now deteriorating. He used to be self employed so has a business account. He's distrustful of online banking so only wants to switch to banks that actually have locations he physically visit within a 10 minutes drive.

What we want to know, and have struggled to find out, is it possible to use the current account switch service to switch from a business account to a current account? Or is it only possible to switch a business account to another business account?

Thank you,
Alex

What type of account is it? If he, "used to be self employed" why is it still open and why is he still using it if the business was dissolved? Or was he a sole trader using a personal account? CASS requires the names and addresses on the accounts to match so switching from 'ABC Ltd' to 'John Smith' wouldn't work.

https://www.currentaccountswitch.co.uk/help-support/

alexjuk

Thank you for the replies.
The business has been shutterd for the past six years, officially with companies house, and is physically unable to work. He has chronic copd and recevies significant health assistance. Like many people, he ignored the symptoms way beyond what was obviously the case. I think he clung to the open business account as a metaphorical lifeline to being able to function normally.
The "business account" was not closed along with business, I realise this means he's paid 6 years of charges to keep it open.. That is mainly due to the fear about having to reconfigure all the payments into and out of that account 

He was a sole trader and the account is in his name 

alexjuk

Clarification: The account type he's still using is an official business account in his name. 

retiredbanker1

I am slightly confused - you mention Companies House which suggests a Ltd Company but then go on to say he was a sole trader - can you please clarify?

Either way to be honest I don't think you can transfer a business account to a personal one using CASS but you may be able to get your current bank to do a workaround by opening a personal account then manually transferring  standing orders and direct debits. They will not be able to transfer any continuous card payments.

If it is a Ltd Co. then it is a definite no - the company account needs to be shut down and a new personal account opened. 

Futuristic

He won't be able to convert an account from business to personal. 

CASS is available for business accounts switches to another business bank account. 

alexjuk

@Futuristic and others, thanks that's what we feared. Will contact the business account bank arrange to set up a personal account there, then we'll arrange all transactions into/out of that one and close the business account.
Then we'll use CASS to switch to a bank that is still interested in having physical locations one can walk into and explain issues face to face.
Not as simple a process as we'd hoped but we'll get there in the end. Thanks for all the comments/suggestions. Consider this thread closed.