Business Banking

Discussion in 'Managing Your Business' started by Green Pro Clean Ltd, Oct 7, 2015.

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  1. Green Pro Clean Ltd

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    Now lots of us have used personal accounts, some still do, and there is nothing illegal nor immoral about doing so (just for the record)

    However the benefits of a business account to a small business are many I will not list all of them here but a few.

    Firstly, it keeps your 'personal' and 'business' finances separate so you have a 100% clear picture of whats going on.

    This will be a massive help if you ever decide to sell your round as you have an official record of your companies money month to month to help prove income and value.

    After a couple of years should you decide to expand and buy another round you have an established history with your bank which will help you get a loan so that you can expand. Or money for a van or system or such like.

    If the tax man gets on you your finances are so much easier to prove and show.

    So that's just a couple of the reasons.

    Today I opened an account with Sandanter which is no fees.

    I dont mean no fees for 12 or 18 months I mean ever if you use it correctly.

    After the 1st 18 months which is free for everything they charge for cash deposits, this is the only thing they charge for full stop. £7.50 per month for the first £1000 CASH then up the prices from there.

    So I asked the question......'What if I pay CASH into my personal account and then transfer it online to my Business Account?'

    'No fees what so ever' My account manager tells me.

    So a little food for thought, totally free business accounts from Sandanter.
     
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  2. TolishAPurd

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    I've been thinking about this for sometime. I'm fed up of putting my businesss names on invoices and then when I get it wit my business name on (as you would expect) and then the bank won't accept it. Its all a bit embarassing. It looks a lot more professional to put the business name but I often forget to say who to make it payable to.
     
  3. Green Pro Clean Ltd

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    Booked on the phone for an appointment. Went in at 10am today, was out by 10:30 with a business account with all the frills I need.

    The direct number for booking appointments is 08000686699 in case you want it.
     
  4. Taxlossloz

    Taxlossloz Grand Master
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    Yep Green great minds think alike .. I have the leaflet on my dashboard from last week
    Mainly because business is good .. But the profit quickly goes on the family and not back into the business like it needs to
     
  5. Matthew Phillips

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    My Dad had a business account with Barclays years ago and they charged him £10 everytime he wanted a bank statement. Do Santander do this? That little hidden expense really put me off! I know its tax deductible but still....
     
  6. SkulBlaker

    SkulBlaker Well-Known Member
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    Ive just signed up to Clydesdale bank 25 months free banking.
     
  7. boarcity

    boarcity Guest

    my opinion, youre kiddin yourself if you think a biz account is for you and payin thru the nose sure it might only be twenty thirty quid a month but thats money better spent ,just my opinion

    whats the origin of that phrase ,anyone know?..." paying thru the nose " something else to ponder on /sweat over
     
  8. SkulBlaker

    SkulBlaker Well-Known Member
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    Experts discovered that "paying through the nose" was a Viking punishment of slitting the nose from tip to eyebrow of anyone who refused to pay tax.
     
  9. Diwrnach

    Diwrnach Grand Master
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    I use Santander and have done for years and years, don't charge a penny.
     
  10. Green Pro Clean Ltd

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    As I already said, NO CHARGES AT ALL for Sandanter business banking.
     
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