Can you have multiple business accounts?

[andyk1405]

Hi everyone

So recently I had an issue with our business bank account being frozen (when filling out a business profile I didn't upload the correct documents)

Obviously the initial error was mine but trying to get it rectified became a nightmare. It took almost a week to get back into out account and in that time (no staff had been paid, we were close to running out of stock and our phone lines and Internet went off due to non payment)

Obviously it's sorted now but my priority is to make sure this doesn't happen again.

So my question is is it legal to have a second account? Like a savings account so if something happened I'd have access to some money so our business didn't grind to a holt

Thanks for any advice in advance

 

[intheTRADE]

Yes you can have multiple bank accounts

I would be more concerned about being cut off my phone and internet if payment was only a week late. Who provides those services that they cut you off so quickly and surely you could of just called them to explain

 

[andyk1405]

Yes you can have multiple bank accounts

I would be more concerned about being cut off my phone and internet if payment was only a week late. Who provides those services that they cut you off so quickly and surely you could of just called them to explain

Yeah that was talktalk to be honest pretty poor that our account was suspended as soon as the direct debit didn't go through without even contacting us

 

[Mark T Jones]

Technically and legally, yes you can.

Practically, you might struggle to get a banknto open one at the moment

 

[The Byre]

We have five and in three countries. So, yes you can - and you should!

 

[UrbanRetail]

We have accounts with Monzo, Starling and Revolut.

Each serve a purpose and we've had no problems.