Welcome to the UK Window Cleaning Forums

Starting or own a window cleaning business? We're a network of window cleaners sharing advice, tips & experience. Rounds for sale & more. Join us today!

Business Banking

Green Pro Clean Ltd

Well-known member
Messages
8,103
Location
Nottingham & Derbyshire
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.

 
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.

 
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.
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

 
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....

 
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

 
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.

 
Im sure my santander business account is going to be £7.50 per month after the first 12 months, must check but thought there was a fee after the first year or so.

 
Im sure my santander business account is going to be £7.50 per month after the first 12 months, must check but thought there was a fee after the first year or so.
You are right Adam. ONLY if you pay in any cash.

Pay all cash to personal account then transfer electronically to your Santander business account.

They only have a monthly charge for processing cash.

This is why we are moving everyone to online payment.

 
You are right Adam. ONLY if you pay in any cash.
Pay all cash to personal account then transfer electronically to your Santander business account.

They only have a monthly charge for processing cash.

This is why we are moving everyone to online payment.
I never pay in cash anyway only takw online payments. I take very little cash so that usually gets spent

 
Hi guys - I had a look at santander biz acc and is still 7.50 a month and since I pay a lot more banking with Nawest , I would very much like to change my bank, they charge almost £0.4 for every Bacs / online payments !!!

What would be the easiest way to move from Natwest to Santander ? Shall I open an account with santander first then gradually giving my new acc details to customers ? once everyone started to use my new acc - will shutdown the other one

 
Hi guys - I had a look at santander biz acc and is still 7.50 a month and since I pay a lot more banking with Nawest , I would very much like to change my bank, they charge almost £0.4 for every Bacs / online payments !!!
What would be the easiest way to move from Natwest to Santander ? Shall I open an account with santander first then gradually giving my new acc details to customers ? once everyone started to use my new acc - will shutdown the other one
Can't you switch the same as a current account?

 
I'm with Santander no fees hated paying NatWest to pay money into my own account.

Santander are great pay all cheques through cash machine really good online set up as well

 
Back
Top