3
votes
1answer
143 views

Freelancer: Should I start a second bank account?

I am a freelancer based in India with clients in Canada, US and India. Until now I used my personal savings account (Union Bank of India) to get paid. It has been only a few months since and now I ...
4
votes
2answers
1k views

Why do banks require small businesses to open a business bank account instead of a cheaper personal one?

I understand the need to separate personal finances and the business finances, be it sole-proprietorship or incorporation. I also understand that in the former it's optional, but in the latter it is ...
5
votes
1answer
594 views

Funds in closed bank account have gone to the government

My son was advised by his accountant to close his limited company and start a partnership instead. He did this but he was not told that he needed to clear the company bank account - he left this open ...
2
votes
3answers
1k views

Deposit a cheque in an alternative name into a personal bank account (Australia)

I'd like to be able to deposit cheques payable to a business name into my personal bank account. I do not have a company (Pty Ltd) and at this stage it's probably more trouble than it's worth to set ...
9
votes
4answers
419 views

What's a Letter of Credit? Are funds held in my bank for the amount in question?

Can someone easily cash one? Is it used for business only, or is there an advantage to consumers using them as well?
6
votes
2answers
137 views

Why Are Credit Card Rates Increasing / Credit Limits Falling?

I thought that there was recent legislation passed that forbid banks for jacking up rates as they had been doing from late 2008 into the first half of 2009. All of my credit cards have seen increases ...