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Is it best to open basic accounts or business accounts ?
 

Is it best to open basic accounts or business accounts ?

I intend to have the ebay accounts opened as business accounts.

But maybe its best to set up a personal account and basic accounts and then if things go well then change them both to business?

any ideas?


thanks

Re: Is it best to open basic accounts or business accounts ?
 

Depends on your business set up really.

If you are a sole trader then basic accounts every time.

If you are a ltd company then you would be advised to use a business account.

Re: Is it best to open basic accounts or business accounts ?
 

How much are you planning to sell OP?

Changing an account to business doesnt really give enhanced protection from limitations and suspensions if that's what you are looking for.

Re: Is it best to open basic accounts or business accounts ?
 

LTD businesses.

I understand about not getting extra protection.


Look at it more from a ebay buyers view that a business is much more reliable and looks on a bigger scale than a private seller.

also from a tax perspective its better.

thanks

Re: Is it best to open basic accounts or business accounts ?
 

Basic accounts have unlimited balance which is fine.

There's loads of decent ones and 10 accounts at each bank is safe over a 24 month period.

Re: Is it best to open basic accounts or business accounts ?
 

If you have a registered business and dealing with tax cuts, incentives, etc....could go for business account