Bank Accounts

[BelindaChong]

I use Santander for my personal account, and CoOp for my business account. It is becoming inconvenient to use CoOp as they have no branch near me, so I need to switch banks.
My husband tells me that advice he was given was to use different banks for personal and business accounts.
Do other forum users agree with this, and if so why?
Thanks, Belinda

 

[Scalloway]

Yes it is a good idea to have accounts in different banks. It can happen that the bank will freeze one account due to debts on the other.

 

[David Griffiths]

That can only happen if you have a loan or overdraft facility, and not always even if that is the case. If you run the accounts in credit there is no reason to be concerned

 

[BelindaChong]

That tallies with what my husband thought. Thanks very much for your advice.

 

[StevensOnln1]

If paying in cash/cheques is the main reason you want a branch nearby, The Co-op Bank can make arrangements for you to use a local Post Office for paying in or obtaining change.

 

[BelindaChong]

If paying in cash/cheques is the main reason you want a branch nearby, The Co-op Bank can make arrangements for you to use a local Post Office for paying in or obtaining change.

Good point, I had forgotten that.