yep just started that process today. Tried to pay for something on amazon but card has been declined. Called the app and was told theyre closing my account and funds can be withdrawn through a cheque i ca go into nay branch to receive. bugger

Yes my account was closed last year - i opened 4 other accounts to spread out my cash - never had any issues since.

A dumb question
How are you supposed to set up account in a different name other than your own ( as proof of ID is required.
So how do you get around that setting up under any other name for bank transfers

More risky with PayPal is that if they find out you're taking payment for anything sex work related they'll freeze your account and take the money back.
[/quote]

Wow, hadn't even realised that!

Right, with apologies to Fifi who started the other thread I've merged the two together because at the moment we literally have two threads running at the same time with people making virtually identical posts, and stuff is going to get missed

Most business accounts have been changing there terms & conditions  if your a sole trader want you to use your real name on transfers

Mine is still fine, although I only really use it to pay my salary monthly anyway. At the time of writing, the banks I know which don't have annual limits on cash deposits into personal accounts are Lloyds, Nationwide and Santander (and possibly Halifax if Lloyds don't, aince they're the same banking group)?

I hope that I don't sound mega thick here (well not more than usual!)....... can't you still get those top up cards?.... you know like mini visas or mastercards that you can top up for kids???

I don't know a lot about prepaid cards, but I've used them in the past and there are definitely people here who do. There may be some stuff on the Deposits thread

I hope that I don't sound mega thick here (well not more than usual!)....... can't you still get those top up cards?.... you know like mini visas or mastercards that you can top up for kids???

You can get pre paid travel cards from Asda Tescos Sainsbury’s they are all easy to use
Pre paid bank account Suits me  ( they are also content maker friendly )

There are few more

LOng post - where I'm at - in case it helps others:


Since being alerted to the banking problem last year, this is constantly in the back of my mind- as a worry

So far, I have still just stuck with my personal bank account - it is the only one I have and is with ***Nationwide***

Nationwide doesn't have cash limits - so far.
They also do have lots of branches, so it is easy to pay cash in.

After seeing these threads, though, I cut down on how much cash I pay in, and over the last year, I have paid in less than £25k.
I have circumvented this by giving some of my cash to friends — very trusted friends—who paid the cash into their own accounts and then transferred it to me.
It is crazy that we have to do this!!!!

In my favour - I've had the same bank account for 20 years and a direct debit to HMRC for my tax.
I can explain with proof that I'm a sole trader registered with HMRC.

Other tips to reduce cash banking:
* I contacted my council about paying council tax in cash! They issued me with a cash card and I can pay it directly in the postoffice - very handy that's over £1,000 per year.
* I suspect other utility companies can offer this but they probably don't advertise it because they want us to have direct debits which are cheaper/easier for  them.

* I was impressed by the suggestion in another thread to buy amazon card and netflix cards at the supermarket and pay for things that way rather than connect them to our debit cards - this is a simple genius idea that I hadn't thought of!
* Of course, groceries & fuel get bought in cash, but not many businesses want to take cash these days.

I will say it is really annoying to have to limit our cash in the bank in these ways.

Opening multiple bank accounts as an option:
* Credit file fears - I am two months behind on a loan payment and have been this behind for about a year, which I know will show on my credit file. This has made me scared of trying to open a second bank account while I appear to be financially struggling.

* I should be back on top within the next 3-4 months. When my credit record looks better, later this year, I will think about opening a business bank account  And other personal accounts.

It's not just about me—many of you might also be worried about bad credit histories, such as CCJs or Bankruptcy.
Apparently - government rules say we are all guaranteed to be allowed to bank with the main banks - and yet we might have problems paying our cash in??? It makes no sense - unless, in fact, those banks will accept our cash if they know where it comes from/ can see we pay our income tax.

Arousing suspicion: For some of you --- I wonder if it is not just the problem of cash paid in but what some people might be paying out - if you have a lot of transactions that look like business expenses rather than the normal transactions of life - advertising costs, hotel bills, taxes, sex shop order!!!!?

Self-employment - THIS IS WHAT I Do - I am a (masseuse) therapist (and I have another consultancy business as a sole trader- I work both of the 2 businesses part time - the business expenses of my other business are all done through Paypal so I don't need a business account - it is purely my income that gets paid into my bank account)

What I am thinking about doing - I am thinking of making my other non-sex-work business into a limited company and getting a limited company bank account for that so that I will have the option to pay in some cash there - obviously there are high charges related to paying in cash into a business account (perhaps £100 for £10k) and ongoing monthly charges just to have the account. But it may well be worth it for peace of mind.

You (general YOU - people needing this thread) might find these links useful:

https://www.moneysavingexpert.com/banking/business-bank-account/

https://forums.moneysavingexpert.com/discussion/6101941/do-i-need-a-business-bank-account?_gl=1*