Business Bank Account?Taking card payments

[Sparklepink]

I used to have a business account with natwest but since getting the salon have changed to hsbc and i also now take card payments

It was like most business accounts free for a certain time once id opened it

i have just got a new business banking manager and have changed my banking tariff in the last month... which is looking like i am making a saving atm./..
i only pay 2% for all cash paid in or taken out at the branch .. but if i was to pay it into my personal account and transfer it over online then i dont have any charge at all :lol:

Business Direct: free business bank account: HSBC Bank UK

(scroll down for the tariff)

hth

Jess
xox

ps... forgot to add that i now no longer take cheques... if needs must then i will but most ppl pay by card

 

['chelle]

I might look into the Abbey National..........

I've been looking into business accounts recently, and what with the charges I've decided to use an old personal account for now. I only want to deposit takings and pay for materials by card so that will work fine for now, but I will want to take card payments for services in the future.
I wonder if you can take card payments by paypal, by getting the customer to fill in a credit card payment slip instead of using a card terminal, does anyone know if this is possible??

 

[Sharkster]

I have a seperate current account in a seperate bank from my personal accounts which I use for my business. It's even called 'Salon Account'! Just trying to get away without paying charges for as long as poss! There is no law (as far as I know) that says you have to have a business account?

 

[oey]

I have a seperate current account in a seperate bank from my personal accounts which I use for my business. It's even called 'Salon Account'! Just trying to get away without paying charges for as long as poss! There is no law (as far as I know) that says you have to have a business account?

I dont beleive it is the law but it is in most terms and conditions of personal current accounts that you cannot use the for business account purposes.

 

[Terese]

I think your right as its in the terms and conditions....money laundering and all that stuff. I have gone with Lloydstsb as its my bank, they know me and it will be open by the end of this week. A and L I still havent heard from them..not even a call. I am not tied so I will see how Lloyds treat and if there is any trouble will change in the new year. As yet to hear from the card supplier for bacs payments etc so probably some haggling to do there as well.....

 

[Sharkster]

Oooo, didn't know that, also advised the person that I saw at the bank what the account was for and he didn't mention anything about not using a personal account for business??? Just checked the t's & c's of my account too and it's all a bit vague??? Could I get in real trouble for this even though the bank know what i'm using the account for? I know I should ask the bank this but I never trust a sales person which is ultimately what they are!

 

[Terese]

Sharkster...Im not in the right field to give you advice about this. I have a personal account and a Business account, reasons are it keeps it all separate and easy to manage(for me at least)

 

[Welsh Geek]

I have used a credit card machine for the last five years and have found that it increased treatment transactions considerably, many clients found it easier to pay by card.

Now my salon is home based, I actually encourage most of my clients to pay by card, so that I have very little cash hanging around.

The small amount that is charged by the bank to use the service is nothing compared to the extra sales and sense of security I get from using my card machine.

My business account is also charged, but it is just a nominal amount, so it is no problem.

Sue x

 

[Terese]

Sue, that is really encouraging to read, I am awaiting some info from the banks with regards to the card payments. I like the fact that it will hopefully encourage sales as people dont always carry alot of cash on them and as xmas is around the corner....