Zempler doesn’t really get talked about on here, but these are their main three card designs.
The business credit card is the same as the debit, but with green text instead. And the personal credit card is a grey sort of colour.
All the personal cards are just prepaid, whereas the business card is a prepaid preferred business card. Dunno why they do prepaid as they’re a full bank, but business banks are weird (like ANNA issuing MC world business credit for their cards).
The currency cards are for my personal account, and I think it’s the same design for the business account. As and when the option becomes available to me I shall order a EUR card to test this.
From what I know. As long as you are doing the business you put on the application to the bank then there is no problem having mutiple bank accounts for 1 business.
I manage some clients with accounts in all the major banks. Of course that is Corporate and not sole trading.
As long the business is doing what it says its going to do and the reason the account got approved by the bank then its fine.
But if you don’t and the bank finds out then it could cross into financial misrepresentation or fraud.
I mean, it could be a sign of fraud opening so many accounts in a short period, especially this many.
If all accounts somehow show on their credit file, it could also impact their lending opportunities.
If the banks don’t see any turnover, they may just close them in any timeframe.
To be difficult, they could also ask for evidence of their sole trading business and/or finances, and if not provided, could simply report it as fraud.
I’m a sole trader. At some point I do need to contact HMRC and ask for my unique taxpayer reference, but as I’m currently under my £1k trading allowance, there’s no need for the unique taxpayer reference and self assessment tax return.
This is true. And I do now need to calm down with the applications (not that there’s many left for me to open now)
This is the main thing for now. I’m not profitiable yet, but I do intend to be. And there’s no harm in having the account open in preparation.
Zempler just wanted my business category. Monzo wanted a brief description. ANNA I had to send them my business plan and then they were more than happy to open the account.
You all know of my previous CIFAS paranoia though. I’m not about to go and lie to the banks.
I once had Wise business, Mettle, and Tide. You may guess why.
I never applied for any business credit cards as there was no need.
Wise and Mettle actually asked for this and I even provided my self assessments.
Amazon was also nosy and asked for several documents and proof to show what I was selling on the platform was in my possession, how often I get stock and from where, checked the branding. For branding and stock they even had a video call arranged and I had to show them around, I have a brand with registered Intellectual property rights that they had also verified but still wanted to see the brand name on the items I was selling.
Don’t assume you’ve got it all figured out, whoever has such a stack usually knows what they’re doing. I have a similar set (Amex Plat, HSBC WE, Barclaycard Avios Plus) and I can assure you they pay themselves and a bit more.
Is it in your Apple Pay? I’m interested in the photo there. Also, app wise, can you use the RBS/Natwest apps? The Coutts app looked disgusting last I checked App Store
