Do i require a bank account for each trading as name under a LTD?

[Coco0k]

Hi,

I already have a LTD company with its own bank account.
I want to start another business but rather the incorporate another company i want to run the business as xyz ltd trading as New company.

Do i need a new bank account for this additional trading name or can i use the same bank account and just add the trading name to the existing bank account?

thank you in advance

 

[Scalloway]

I would just let the bank know about your company's trading names. It really only becomes an issue if you are going to receive cheques in the name of the trading names, which is not common nowadays.

 

[Deleted member 59730]

It really only becomes an issue if you are going to receive cheques in the name of the trading names, which is not common nowadays.

I've never had a problem. Providing your bank knows all your aliases and trading names they should accept cheques with those names.

 

[MyAccountantOnline]

Hi,

I already have a LTD company with its own bank account.
I want to start another business but rather the incorporate another company i want to run the business as xyz ltd trading as New company.

Do i need a new bank account for this additional trading name or can i use the same bank account and just add the trading name to the existing bank account?

thank you in advance

You can generally use the same bank account but to be sure I'd ask the bank in question direct.

 

[FD Capital]

The banks are a bit stricter now than they used to be, previously I've signed cheques on the back and they allowed them to be paid in. Now you have to send a letter of authorisation and wait for confirmation back at least with HSBC.