I know the importance of keeping business and personal accounts separate. However, does a sole trader really need a business account or can they use a personal account solely for business use? My thinking is as follows about a business account. You have to pay for a business back account, personal accounts are free You pay for business transactions like cheques and cash deposits. I take none of these, I only take one or two large payments a month direct to my account You have access to a business manager. I work in a specialised IT field and do not need a business manager You have access to funding and overdrafts. The day I require such a thing is the beginning of the end for my little business Business banking undoubtedly has a use and if I ever grow my business it would be essential. However, currently I have no use for it and I resent paying a fee for a service which I do not require.