Can I connect card machine for a cafe without business account?
I mean,to connect card machine to my private account?
Can I use my personal bank account for business?
Depending on your business legal structure, the answer can be yes or no.
1 - If you are a limited company, the answer is no. You need a business bank account as your business is a separate legal entity and needs its own business account. If you haven't opened one yet, you don't need to worry. Your accountant can sort it out for you.
2 - If you are a sole trader, you have more options. Using a personal bank account for business is a common choice amongts freelancers when sarting a business.
It's easy, gives you available credit by using your personal overdraftand provides more flexibility when expenses are highen than income.
- You break the T&Cs of your bank account
- You can't have a "trading as" so only payments with your name can be cleared
- It takes time seperating out business and personal transactions
- You can't claim back bank charges and interest
- You give excuse to the HMRC to look into your private affairs if you get randomly picked for a check.
I hope this will help you make your own informed decision.