Jump to content

Archived

This topic is now archived and is closed to further replies.

Guest Ryan

business banking

Recommended Posts

Guest Ryan

Ok so iv opened a business account now

 

and its free for a yr or 2 so no worrys there

 

am i right in thinking if i set up all my direct debits from that account the bank charge me for them direct debits coming out ?

 

i know u can pay for so many transactions a month for example like £10 will give you 20 transactions

 

and cheques are a bit diffrant

 

so do you guys just get the cheques payed into your personal account where it done costs anything ?

Share this post


Link to post
Andy Leett

When you start paying charges you will pay for everything, it is however a tax deductable expense, or so I am led to believe, speak to your accountant he will advise you.

Santander and Co-op offer free banking, you could change over when your free banking term ends.

Share this post


Link to post
windyman

Depends entirely who you're with. I'm with Santander, so I pay a fixed monthly fee & that covers all transactions, DDs, cheques etc. I have a limit on cash I can bank, if I go over that limit, I get charged but only 50p for every £100 I go over.

 

That's the best deal I could find. Hate the ones that charge you for every cheque and every transfer etc.

Share this post


Link to post
Guest Ryan

ya its 18 months free so and becouse iv got an account with them its just easy to have to all linked up so i can transfer money over to my personal account and then into saveings ect

 

how much of the cash takeing do you put thro the bank is it just enough to cover the costs or just about half say ?

Share this post


Link to post
windyman

When you start paying charges you will pay for everything, it is however a tax deductable expense, or so I am led to believe, speak to your accountant he will advise you.

Santander and Co-op offer free banking, you could change over when your free banking term ends.

 

Santander only offer free banking for 12 months if ur a new start up business.

Share this post


Link to post
koopmaster

We must be on the same page, I opened my barclays business account last week. :P

Share this post


Link to post
Guest Ryan

ya i need 1 iv got about 12 direct debits coming out of my normal account atm and doing my head in lol

 

4 for the business rest are personal

got money going in from paye jobs and i'm putting cash in

 

need to organist this stuff up lol

Share this post


Link to post
beaver0_15

When you start paying charges you will pay for everything, it is however a tax deductable expense, or so I am led to believe, speak to your accountant he will advise you.

Santander and Co-op offer free banking, you could change over when your free banking term ends.

 

Santander only offer free banking for 12 months if ur a new start up business.

 

they must of changed it for new customers then, iv been with them 3 years n theres no mention of getting charged

Share this post


Link to post
Iain

am i right in thinking if i set up all my direct debits from that account the bank charge me for them direct debits coming out ?

They won't charge you for any money coming in or out for 18 months or 2 years, whatever the free period is. Speaking from experience though, once you've got a business account it can be a ***htmare to move to another provider once the free period is other. I would only move again if the costs were becoming extortionate.

 

Having said that, window cleaning businesses tend to make lots of small transactions as opposed to less frequent large transactions. Unless you're taking cash and paying it in at once...

Share this post


Link to post
Guest Ryan

Ya thay do packs like

 

£15 gets you 20 tansactions and £250 cash in limit a month

 

oviosly i wont care to much next year if i am getting a good income from it all

 

got to have 1 so as long as the costs are huge i wont worry to much

 

can i put them down as an expense ?

Share this post


Link to post
×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.