If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)

Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

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

Options

30-12-2007 3:21pm

#1

wheres me jumpa

Registered Users Posts: 4,478 ✭✭✭

Join Date: July 2004

Posts: 4094

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

0

Comments

Options
#2 30-12-2007 3:26pm
dahamsta

Banned (with Prison Access) Posts: 16,659 ✭✭✭✭

Join Date: October 2000

Posts: 15270

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

0
Options
#3 30-12-2007 7:23pm
wheres me jumpa

Registered Users Posts: 4,478 ✭✭✭

Join Date: July 2004

Posts: 4094

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?

0
Options
#4 30-12-2007 7:43pm
dahamsta

Banned (with Prison Access) Posts: 16,659 ✭✭✭✭

Join Date: October 2000

Posts: 15270

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?

0
Options
#5 30-12-2007 7:51pm
wheres me jumpa

Registered Users Posts: 4,478 ✭✭✭

Join Date: July 2004

Posts: 4094

Good point!

0
Options
#6 30-12-2007 11:07pm
antoinolachtnai

Registered Users Posts: 9,787 ✭✭✭

Join Date: January 2003

Posts: 9697

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.

0
Advertisement
Options
#7 31-12-2007 5:16pm
wheres me jumpa

Registered Users Posts: 4,478 ✭✭✭

Join Date: July 2004

Posts: 4094

Ok, thanks all.

0