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Getting Bank to add Trading Names to Business Account

Discussion in 'Accounts & Finance' started by orchardstranded, Dec 3, 2009.

  1. orchardstranded

    orchardstranded UKBF Newcomer Free Member

    Posts: 14 Likes: 0

    We have had a business bank account for about 10 years. Over the last 6 months or so, we have been using 2 new trading styles to differentiate visually between the 2 things our business does, for example ABC1314 Building Supplies and ABC1314 Marketing Consultancy, but our official business name in the background has always remained ABC1314 Limited.

    Most people write cheques out to ABC1314 Limited/Ltd as we advise them to do so, but inevitably recent new clients have written cheques out to ABC1314 Marketing Consultancy or ABC1314 Building Supplies - and our local bank branches have rejected these cheques, saying that even though ABC1314 is a unique Ltd company name shared with no others, they still don't acknowledge ABC1314 Marketing Consultancy as being associates with ABC1314 Ltd, so we should ask for replacement cheques to be written.

    We phoned our bank to ask if they can officially add some kind of note to our account records for us, so that the local branches will bank/accept cheques written out to ABC1314 Marketing Consultancy, ABC1314 Building Supplies and ABC1314 Limited. They told us that they can't do this, definitely not over the phone, but there may be a chance if we write to our local business manager, but even then they may say no, or may ask us to attend an interview meeting, for proof of our using the new trading styles recently.

    Any advice on whether thing should be possible? After all, it's only a matter of descriptive words having been added to our unique business name, it's not like we've been trading as an entirely separate style - and we know loads of business which are So-and-So Ltd t/as Something Totally Different and they can accept cheques made out to the official company name or the trading style with no problems...

    Thanks to you all!

    PS - our official company name isn't actually ABC1314 Limited, but our name is unique with no other companies having related names out there. We just didn't want any prospective or existing clients to know about our cheque difficulties via this forum.
    Posted: Dec 3, 2009 By: orchardstranded Member since: Dec 3, 2009
  2. MBS Accountants

    MBS Accountants UKBF Newcomer Free Member

    Posts: 55 Likes: 15
    We use a trading name that is vastly different to our registered name.

    We just simply sent a letter to our bank on headed paper explaining the trading name was to be added to our account. They sent us back a form for adding this and away we go. Never had any problems.
    Posted: Dec 3, 2009 By: MBS Accountants Member since: Feb 5, 2009
  3. IanBrewster

    IanBrewster UKBF Newcomer Free Member

    Posts: 15 Likes: 5
    we did something similar with Barclays - all they needed was a copy of board resolution adopting the new trading name.
    Posted: Dec 3, 2009 By: IanBrewster Member since: Dec 3, 2009
  4. silklink

    silklink UKBF Newcomer Free Member

    Posts: 348 Likes: 42
    I am doing it right now with Alliance & Leicester. There are two flavours: where your trading name can be abcd & efgh; or where you can remain abcd and receive cheques made payable to efgh. I'm doing the latter by filling in a form that they sent me
    Posted: Dec 3, 2009 By: silklink Member since: Sep 19, 2008
  5. Jenni384

    Jenni384 UKBF Big Shot Full Member

    Posts: 4,837 Likes: 1,536
    I hada a client with two totally different trading styles and Barclays (I believe) allowed both names to be used. Shouldn't be a problem.
    Posted: Dec 3, 2009 By: Jenni384 Member since: Oct 1, 2007
  6. orchardstranded

    orchardstranded UKBF Newcomer Free Member

    Posts: 14 Likes: 0
    Many thanks for the advice so far.

    We are also with Barclays actually. Although they've always been fairly slow to deal with things over recent years and our Local Business Manager has changed ab out 5 times in 3 years, hopefully we will receive good news from them soon, as we wrote to them yesterday.

    If we need to fill in a form, that's fine and if we need to send Barclays a Resolution from the Board re accepting the new trading names, that's also fine and I imagine we can just date it in the past, or date it currently seeing as we've used the 2 new trading styles for a while but only just received our first cheque made out to one of them which has caused the issues.
    Posted: Dec 3, 2009 By: orchardstranded Member since: Dec 3, 2009