Can anyone recommend a good business bank account. I have been looking at Monzo

[abea_collectables]

I am looking to create a business account. I want to set up an appropriate bank account. Has anyone had any dealings with Monzo? 

Plus can anyone explain to me the different business seller levels please? I may be a bit slow but I am getting increasingly baffled.  I don't sell tons of stuff, I am averaging just over 100 items listed. I have sold just over 100 items in 6 months.

Plus as a business seller do you still get promotions at all levels and are they similar to the private seller promotions with the 80% discount.

Thank you

[btr.style]

You are a business seller on eBay and therefore should be on a business account, not looking at getting a business bank account while you continue to trade illegally on eBay. 

By law if you sell for profit you have to accept returns. Also you have to show full contact details before a sale and the only way to do that is to have a business account on eBay. 

Another case of trading illegally to try and get the private account fee promos destined for those having a clear out, not selling for profit. 

[cobwebcottage]

Have a read through this thread and work out if you believe you are a private or business seller. Either way, your income on Ebay will be sent to HMRC if you are selling an average of 200 items per year.

Re: Are your taxes in order? eBay now sending sale... - UK eBay Community

Here is the business seller policy.

Business seller policy | eBay

[plpmr]

adding to the advice already given -

Monzo seems to be only an online bank and unless things have changed eBay only accept B&M banks.

[4_bathrooms · Accepted solution]

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@plpmr wrote:

Monzo seems to be only an online bank and unless things have changed eBay only accept B&M banks.

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eBay should accept any bank that is regulated by the Prudential Regulation Authority. These are "proper" banks with a valid banking license for operating in the UK (i.e. they are not electronic money issuers like Revolut). The PRA's current list is here; Monzo do appear in the list of regulated banks.

[eastern-lights]

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@plpmr wrote:

adding to the advice already given -

Monzo seems to be only an online bank and unless things have changed eBay only accept B&M banks.

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Starling are similar to Monzo and are on the list. Worth a look.

[indigo-island]

I have a sole trader account with Starling.  I would recommend.

[susapric-68]

Thank you, Been after a business bank account but all others have huge charges, from what i see theres no charges with Starling so signed up

[eastern-lights]

Starling is the only bank account I have that makes it easy to pay cheques in. I know we don't get many cheques these days but I still receive them now and again and it is a pain with conventional accounts now a lot of the branches have closed. With Starling you can pay in a cheque using the camera on your smart phone. I'm sure this isn't unique but I don't think it is common.

[susapric-68]

Can you transfer money into your none starling bank? I know you can withdraw from a post office cashpoint for free but can't find anything about transfering into a none starling account

[indigo-island]

You can transfer online to any bank account from Starling, just set up a payee in the app.  

[eastern-lights]

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@susapric-68 wrote:

Can you transfer money into your none starling bank? I know you can withdraw from a post office cashpoint for free but can't find anything about transfering into a none starling account

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You can pay cash in to Starling at a post office. There can be a charge though. See

https://www.starlingbank.com/features/post-office-branch-finder/#:~:text=To%20make%20a%20deposit%2C%....

[indigo-island]

Also depending on what you do and where you sell Starling also have links to Sum Up - so you can get a card reader for a reduced price if you don't only sell on line.

[ascotscalemodels]

I'm with Santandar which is free providing I don't go overdrawn,around 15 years ago they were offering free business accounts so I signed up for one and been there ever since.But to be honest I don't know if their business accounts are still free or if they charge like most others,worth looking into though.

[eastern-lights]

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@ascotscalemodels wrote:

I'm with Santandar which is free providing I don't go overdrawn,around 15 years ago they were offering free business accounts so I signed up for one and been there ever since.But to be honest I don't know if their business accounts are still free or if they charge like most others,worth looking into though.

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Hmm. Santander. Well, I'm sure everyone's experience is different, but some years ago Santander took over the building socienty I had a personal account with and I ended up with a Santander account. There were so many stupid problems that I moved on and vowed to never go near them again, and to never miss an opportunity to tell people.