Business Bank Accounts
Business Bank Accounts
If you are operating as a limited company, you will also need to set up a business bank account to enable your company to receive payments. A limited company is a separate legal entity from its directors and shareholders, so the company’s money needs to be traceable throughout every stage of any financial transaction.
Setting Up A Business Bank Account
It's no secret that when it comes to setting up a business bank account, it's definitely not the most difficult thing in the world. However, when it comes to choosing a bank to open your account with is usually where most businesses make the mistake.
Typically we find that businesses first thought is to approach the bank which handles their personal money. This may be the most convenient and quickest option, because your bank knows you and can easily validate your identity so it usually takes the least effort and minimal headaches.
However there are plenty of other banks out there who offer attractive business account deals which many new businesses miss out on (or existing, when it comes to switching). Often times banks will offer monetary incentives or varying interest rates for different circumstances, finding the best deal can prove to be quite tricky and a bit of a headache. That's why most people stick with their personal bank for their business banking.
However, with the help of Edelle we can do the heavy lifting and identify your best bank account opportunities and help you get all setup with them with minimal stress and effort on your part.
Switching Business Bank Accounts
When it comes to switching business bank accounts, it's definitely a lot more stressful than setting up one from scratch. Especially if a business name change is also involved. Whilst we aren't here today to talk about all the different bumps in the road when it comes to switching bank accounts, feel free to give us a call to find out more information about making the switch.
More so we're here today to make you aware of the different business accounts out there and even though you're not setting one up from scratch, there's plenty of deals similar to the ones offered at setup just waiting for you to take advantage of.
It's important when switching bank to pick the right one that's going to benefit you the most as switching banks is such a pain to do, you don't want to have to do it regularly. Thankfully the monetary or interest rates make it a little more bearable.
Get in touch with the team here at Edelle and we can help you sift through the abundance of options available for your business, in some cases going with an account with a lesser known bank that you possible have never heard of is the best option.
But don't be swayed by the fact that you haven't heard of them before as all our recommended banks are correctly regulated and are trusted by hundreds of thousands of other businesses.