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Do I need a strictly business savings account

Discussion in 'General Forum' started by dilby, Mar 26, 2020.

  1. dilby

    dilby New Member

    Hi all -

    I run my own small 1 person ltd company and I'm fortunate enough (especially at this time) to have a little chunk of cash I'm hoping not to need to touch in my business account. I had planned to invest it but considering the markets are as they are right now decided to look at other business accounts with better rates than what I'm on (current rate is awful). I have found a few non-business accounts that offer much higher rates than I can find with business ones (This first direct one being an examples @2.75% AER) and I'm wondering if I'm able to store money from my business into a non-business account if I don't withdraw it and document it? I want to keep it there for now and not tax/dividends on it etc, but I'm just not sure what makes a business account a business account and if you have to use one? Thanks so much!

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