Business Bank Account
As a sole trader you do not have to set up a business bank account however most choose to do so. It is a good idea to keep your personal and business finances separate because it simplifies everything and makes it clearer to see what funds are where!
If you have never had a business bank account before bear in mind that there are charges for various things such as paying in cheques so it is important to ask about these fees up front. Some banks offer the first year free but it is worth shopping around to see who will be the best banking partner for you in the long run.
At Easy Accountancy we have been able to negotiate a free banking package with Cater Allen (part of the Santander Group) for our clients.
Key Features and Benefits
- No minimum balance required
- Funds may be held in sterling, euro or US dollar
- 30 free transactions per month
- Monthly statements
- Full cheque book and banking facilities - bill payments, standing orders and direct debits
- VISA Business deferred-debit card - with no annual fee
- Competitive tiered rates of interest, so the larger the balance the greater the return.
For more information or for an application form please contact our New Client Services team on 0500 234111 / 01442 275767.