UK eBay & PaypalGeneral discussions about eBay.co.uk Suspensions and Paypal.co.uk limited accounts. This forum is geared towards UK eBay & Paypal sellers.
Im think of using my old natwest account and use a sub account to open a stealth paypal account are they ok in accepting deposits in a different name ect ect
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Legally speaking, you are under no obligation to use a business account- you simply have to ensure the personal/saver account is used exclusively for business. A bank may try to pressure you down the business route but you're under no obligation to use one.
That is right RE legalities but sometimes banks will have it in their T&Cs that you cannot use a personal account for a business and may shut you down if they catch you do this.
I can vouch for this, had it happen to me with Lloyds Banking Group too.
Quote:
Originally Posted by JamesNorth101
That is right RE legalities but sometimes banks will have it in their T&Cs that you cannot use a personal account for a business and may shut you down if they catch you do this.
That is right RE legalities but sometimes banks will have it in their T&Cs that you cannot use a personal account for a business and may shut you down if they catch you do this.
HSBC is one bank that does this quite a lot
Definitely some of the reasons why you shouldn't put all your eggs in one basket.
Have many stealth accounts with different banks so to spread your risk.