Legal Age for business bank account

[MarkG]

Hello

Could someone tell me the legal age needed to open a business bank account please?

Thanks,

Mark

[FunkyBears]

Hi Mark
Seven is the magic number!
best
Paul

[MarkG]

A seven year old can open a business bank account? :shock:

[Rachael]

I think it's 18 years old.

[FunkyBears]

Hi Guys,
My wife has worked in a Bank for the last 33years(sad but true) I phoned her and she asked her supervisor who said it was 7 but sorry if I've got it wrong.
Best
paul

[MarkG]

Thanks for going to the trouble of ringing your wife ;)

Which bank does she work at?

[dan_moore]

Most business bank accounts have a minimum age of 18, for instance the standard Alliance & Leicester account:

https://www.alliance-leicestercommercialbank.co.uk/content/SB010002.asp

says "minimum age 18 at the bottom.

If the legal age is 7 it seems surprisingly low?

Cheers

Dan

[ewan]

Definately not seven in my experience - most likely eighteen is the minimum legal age as opposed to the age imposed by the bank itself (where have the legal guys gone on this forum :?).

In my troubles with getting a bank account at fifteen I ended up getting one in my mums name, but no-one ever need know its in her name as its also in the business name.

[Astaroth]

As long as there are no credit facilities then I cannot see why there would be any limit to the age of someone having a business account - a 16 year old can be a sole trader so why not have an account to go with it?

Could be that the majority of businesses want credit and therefore there simply arent any banks that cater for the minority who dont but.....