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Business account advisable/posssible?

wheres me jumpa · 2007-12-30 14:21:32

As mentioned in another thread, currently considering formalising my "nixers" into an actual business secondary to full time employment. I would like to know if it is adivisable or even possible for me to set up a business banking account when my income is likely to be quite low. Thanks, Jumpa

30-12-2007 2:21pm

#1

wheres me jumpa

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As mentioned in another thread, currently considering formalising my "nixers" into an actual business secondary to full time employment. I would like to know if it is adivisable or even possible for me to set up a business banking account when my income is likely to be quite low.

Thanks,

Jumpa

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Comments

#2 30-12-2007 2:26pm

dahamsta

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The level of income doesn't really have a bearing, just watch out for bank charges.

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#3 30-12-2007 6:23pm

wheres me jumpa

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Thanks dahamsta. So when applying for a business account, just an account no loans etc. the bank doesnt consider if they business is worthwhile or not?

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#4 30-12-2007 6:43pm

dahamsta

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No. They may ask questions, but they don't care. You can't go into debt with them without arranging it, so why would they?

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#5 30-12-2007 6:51pm

wheres me jumpa

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Good point!

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#6 30-12-2007 10:07pm

antoinolachtnai

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The one thing they are required to be concerned about is whether your business is a front for money laundering. This is unlikely to come up unless you are dealing in pretty big amounts of money.

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#7 31-12-2007 4:16pm

wheres me jumpa

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Ok, thanks all.

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