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This toothbrush will have it all, for the person who has a busy and hectic life, and doesn’t want to have to worry about the little details of the seemingly less ...
I would like to start a restaurant and have nearly 30 years experience. I will need $300,000 to start up and maintain operations for the first few years. I don't have anything saved, I don'...
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This has been a dream of mine for a very long time. Although I want to gear it more so to Christian teens, all teens are welcome. The reason I wanted it to be for Christian teens is so they can ...
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Or having your own business ?
Or living thanks to your financial investments?
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Etc, ...
ritchie blackmore
My bank has rang me and said i cannot use my personal account for my business is this true?
i have been self employed for 25 years and have always used my personal account
The bank does not care whether you are using your personal account to deposit or withdraw funds for your business, however, you cannot deposit a check or any negotiable document written in the name of your business name. You have to establish a business account or get a business license and submit the license to your bank and use the business name as a DBA or "Doing Business As". Then the bank can identify you personally and your business name as "one".
Ask an officer of your bank how you can set -up your personal account to work together with your business. They are more than willing to give you a professional advise.
They may offer you to set up a Business Savings Account where you may deposit checks written to your business name.
If checks are issued in your name, you have no problem with that.
Hoping this answer helps.
pliw
Yes that's true. Ask your bank if they offer automatic transfer services. Then use your business account. If your business account lacks the necessary funds, they will automatically transfer the deficient amount from your personal account to the business account.
MellowMan
Well they must have found out and want more money from you then. Most personal accounts don't have costs etc. But a Business account has so many fees and costs involved that's why they want you to have a business account too!
This is how they make so much profit.
ashleetaylor
u need a business account
raysor
Yes. A business acount is usually more expensive. Why do you think banks have business accounts?
If you are running a business you should have a seperate account for tax reasons, anyway. How can you muddle up your business money with your own money? How do you seperate your business expenses from your personal expenses?
I can only be Rosie
If you change your personal account title to a "dba" (doing business as) you can use it for both. For example a man named John Davis has a handyman business called The Handy Husband. His account title would have to be John Davis dba The Handy Husband.
staceyb_2003
yes u need to open a business account
Steve B
Looks like your Bank has decided it wants to squeeze more money out of you ..
No doubt if you check the 'Terms & Conditions' (small print) you will find they are correct .. so you really don't have much choice but to move your business elsewhere .. (I would not make too much of the fact that you have used the account for 25 years .. that is likely to result in them sending you a bill for 25 years Business Account charges ..)
I believe some Banks / Building Societies are more 'self employed friendly ' .. you should shop around for a new Bank .. and then move all your accounts ..
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