Company title and Bank details for payment??

[Mikeyg47]

Good afternoon all,

Its just a simple question really but I was wondering if someone could offer some advice about my company...

I will use this as an example and hopefully it will make sense...

My company name : RPM UK Ltd

Could I inform my business bank to accept payments, cheques, transfers etc in the name of RPM or RPM ltd or does it have to be the full company anme RPM UK Ltd?

I hope this makes sense and I know its a simple question but from a simple guy!! hahaha

Cheers

[David Griffiths]

One simple answer: Yes

One simple question: Why didn't you ask the bank? :|

:)

[Mikeyg47]

One simple answer: Yes

One simple question: Why didn't you ask the bank? :|

:)


One simple reply... its often easier to ask on here than get an automated robot who gets my name wrong... :p and I cant get into my bank as far to busy...:redface: Cheers David...

[David Griffiths]

One simple reply... its often easier to ask on here than get an automated robot who gets my name wrong... :p and I cant get into my bank as far to busy...:redface: Cheers David...


That's OK, Mark ;) And you'll have to go into the bank to set it up anyway, because they'll almost certainly want some forms filled in.

[Dessembrae]

You can instruct your bank to accept cheques etc. made payable to your trade name, such as RPM or RPM UK.

If they have their legal people look at it at all then you'll be told that they cannot accept payments in favour of RPM Limited, as you cannot have a "Limited" trading name, and the only way you would be able to do this would be if your company was previously called RPM Limited and you wanted to accept payments made in favour of the old name.

They'll ask you to sign an indemnity to cover them for any losses incurred by reason of them accepting payments to your trade name (and previous company name, if applicable).