Business Bank Accounts

[Flamesparrow]

I'm trying to get the business banking in order. The main of it is done through paypal, but I do use a rl bank too.

The paperwork is starting to get complicated with it being merged in our personal bank account.

Sooo... would I be best off with a "business account" or just a seperate personal account?

I don't know how much business accounts charge, what benefits they have etc over a personal account, and if it is worth is as the business is so early still.

Anyone know these things and can advise me?

Going off tonight, so not being rude and ignoring replies!!! Will be back tomorrow

Thanks

Hello you - might have said these before, but will prob help for you to have the responses all in one place.

Who will payments from customers be made out to? If you want them in business name, then I think you'll need to have a business account. If you're happy for payments to come to your RL name then you could use personal (not even separate from your normal account unless you want it to be, assuming you've registered as a sole trader, which I think you have, haven't you?)

Business account will obv charge you as you say, but you will appear more professional if your customers and suppliers see that you have one.

Both dh and I just used our normal joint account for both of our businesses.

Thank you - you have explained it all before but I'm useless and forgot

Payments can be made out to either name, its not really an issue.

As in I don't mind if they make them out to me or bumfluff

i dont pay for any kind of payments in or out, get monthly statements, use telphone and internet banking,even went overdrawn alst month due to being paid late by parent and even tho i dont have overdraft facility, they didnt charge me, got bank/debit card, chq book an dpaying in book all free