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business account or own personal
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<blockquote data-quote="Pyro" data-source="post: 20152" data-attributes="member: 67"><p>As noted, most banks charge businesses. Two that do not charge businesses are Abbey and Co-Op.</p><p></p><p>I have had an Abbey business account since 2001, always in credit, and no problems at all with/from the bank.</p><p></p><p>Having recently joined the Federation of Small Businesses, the Co-Op bank was recommended as the FSB have an arrangement with Co-Op. For me it is not particularly relevant, but for anyone wanting a choice of no-fee banking, it provides an option. Contact the FSB or Co-Op bank for further info.</p><p></p><p>Other advantages of having separate accounts is that non-domestic clients in particular feel that they are dealing with a more professional business if they have to make payments to a business name, e.g. "ABC Electrical" or "J Bloggs T/A ABC Electrical". Businesses making payments to "J Bloggs" seem to have suspicions that Mr Bloggs may not be the professional that he makes out he is and can try to negotiate down or just not take him seriously. VAT registration is another step up the ladder of professionalism as far as non-domestic clients are concerned - they get an immediate impression of a larger and more established electrical business (even though it may only consist of Mr Bloggs).</p><p></p><p>Pyro.</p></blockquote><p></p>
[QUOTE="Pyro, post: 20152, member: 67"] As noted, most banks charge businesses. Two that do not charge businesses are Abbey and Co-Op. I have had an Abbey business account since 2001, always in credit, and no problems at all with/from the bank. Having recently joined the Federation of Small Businesses, the Co-Op bank was recommended as the FSB have an arrangement with Co-Op. For me it is not particularly relevant, but for anyone wanting a choice of no-fee banking, it provides an option. Contact the FSB or Co-Op bank for further info. Other advantages of having separate accounts is that non-domestic clients in particular feel that they are dealing with a more professional business if they have to make payments to a business name, e.g. "ABC Electrical" or "J Bloggs T/A ABC Electrical". Businesses making payments to "J Bloggs" seem to have suspicions that Mr Bloggs may not be the professional that he makes out he is and can try to negotiate down or just not take him seriously. VAT registration is another step up the ladder of professionalism as far as non-domestic clients are concerned - they get an immediate impression of a larger and more established electrical business (even though it may only consist of Mr Bloggs). Pyro. [/QUOTE]
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