Business bank account

[Rosco1112]

Hi everyone,

I am just about to chose a business bank account and just wondered if I'm best off using the bank which I have always banked with personally (Halifax) they always give me large overdraft facilities and good credit compared to other banks I have used so just wondered if I had more chance of getting a larger business overdraft with them rather than any of the other banks?

Appreciate your advice

 

[CSBob]

Hi everyone,

I am just about to chose a business bank account and just wondered if I'm best off using the bank which I have always banked with personally (Halifax) they always give me large overdraft facilities and good credit compared to other banks I have used so just wondered if I had more chance of getting a larger business overdraft with them rather than any of the other banks?

Appreciate your advice

That used to be the case many years ago, when managers could actually make their own decisions and you could build up a personal relationship with someone who understands your business and, more importantly, actually seemed to care. Not anymore.

In my (possibly jaded) opinion, there is absolutely no benefit in using the same impersonal bank for both personal and business accounts. In fact, if you will be a sole trader rather than a Ltd company, I would definitely recommend using a different bank for your business account, because the bank will treat both accounts as you and, in dire circumstances, take from one to pay any debts on the other should they feel the need.

 

[MyAccountantOnline]

Hi everyone,

I am just about to chose a business bank account and just wondered if I'm best off using the bank which I have always banked with personally (Halifax) they always give me large overdraft facilities and good credit compared to other banks I have used so just wondered if I had more chance of getting a larger business overdraft with them rather than any of the other banks?

Appreciate your advice

It's a question which many ask and my view - I don't really think it matters either way.

I agree with CSBobs comments.