The Underscore Archives

Cheers Jon,
Just found out that Abbey (who I'm already with who're hopeless but
have historically been very good to me) do free business banking as
long as you stay within their 'agreed limits'. I don't know what they
are but I'll find out at lunchtime when I'm having tea and biscuits
with the business banking manager.

I'm interested in knowing what allowable expenses are exactly too.

Pete



On Tue, Oct 20, 2009 at 9:45 AM, Jon Bennett <jmbennett at gmail.com> wrote:
> mornin pete,
>
>> Can anyone tell me if it's worth a one-man-band opening a business account?
>> As far as I can make out there's no law saying I need one and it's
>> only the bank who win by charging me a monthly fee and also per cheque
>> that I pay in.
>
> yes, most definitely is. Having separate accounts is very handy for
> keeping track of your income and expenses. Most of the high street
> banks will give you 12-18 months free banking, so it won't cost
> anything to set up. I'd advise you get a (what HSBC call) a commercial
> card tied to your account. Use this card to pay for everything that's
> an allowable expense and as long as you pay full amount off each month
> it acts like a debit card. Upload the card statements to FreeAgent,
> books are largely taken care off :)
>
> j
>
> jon bennett - www.jben.net
>
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