View Full Version : bank account???

10-11-2011, 07:06 AM
Just woundering how many of you have a seprate business bank account or do you just put fees ect into your own account or savings account??

10-11-2011, 08:02 AM
Unless you are making tons of money, then just use your normal account. I've got a business name but all cheques are filled out in my own name or I just have direct bank transfer.
There are lots of charges on business accounts!:panic:

10-11-2011, 08:24 AM
lol well im deffenntly not making tones of money :S i opened one s the bank told me i needed to but i think it will be getting closed today :)

10-11-2011, 08:27 AM
No I have always used my own account.

10-11-2011, 08:32 AM
lol well im deffenntly not making tones of money :S i opened one s the bank told me i needed to but i think it will be getting closed today :)

They would say that "You need a business account", they have to make money out of us! :rolleyes:
What I find cheeky about banks is when they do a 'review' and they try and find out where your money is coming from. None of their business :mad:

10-11-2011, 08:37 AM
I use a standard account. The bank keep aking me to do review but I keepp tellin them i'm too busy. If they tell me I need a business account I will just take my money elsewhere.

10-11-2011, 10:43 AM
I have a separate current account I put the minding money into. It means I can work expenses etc out much more easily at the end of each month as I only use the card for that account for minding things. It's not a business account though, just sep from our 'normal' account.

10-11-2011, 11:24 AM
I was tryign to figure out how to do this, as minding will be my main income,so i was thinking of having fees paid into my main account and then transfer a percentage into a seperate current account, for minding expenses etc, Either way i need to build up a reserve in which ever acount i use for late fee payments etc

10-11-2011, 02:15 PM
I have two current accounts with different banks. Two of my parents pay into my main account which covers bills, household shopping and most other personal stuff. The third parent pays into the other account. I try to use that for only childminding expenses and draw from it when away on holiday in the UK as it is a Co-op account which means I can draw cash at any Post Office free of charge if I am in remote areas with no banks.

There is generally enough in that secondary account to pay my tax bills when they fall due as well; which means I don't have to think about putting money away for that.

10-11-2011, 02:58 PM
apple blossom that is a fab idea, I think I will do this :)

11-11-2011, 08:49 PM
I used to have a separate current account but HSBC offer free business banking. I've gone with them and they are pretty good. After the free 18 month period they charge you but I have a call/ reserve account linked to the main account and I can use that free. parents who pay direct into the account doesn't cost anything and cash under a certain amount isn't charged either. ALSO the charges that would be made are shown clearly on my monthly statements so I know how much I will be charged at the end of the free period. Ok I am not on big bucks yet but so far I think my charges would have equated to .12p The chap who advised me was really sound - no hard sell just the facts and he didn't mind my endless stupid questions. He's also given me his e-mail and phone number so if I don't get chance to ask in my local branch he will solve any queries for me - like when I changed from my own name to a business name he sorted it all out for me. Anyone want his contact details PM me cos he was really good. As far as I know so long as HMRC can clearly see your incomes and outgoings they don't require a separate bank account but the banks encourage it because normally they charge. I found it easier for me so I can keep track of it better.