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New Contractor, Ltd Co. - Recommended Bank A/c?

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    #21
    Originally posted by WHA View Post
    I have seen banks transferring funds between company and personal bank accounts when one has been overdrawn beyond approved limits, but only because the mandate specifically allows for it - i.e. the signatory had given approval in advance for it to happen. If you havn't given your permission to your bank, then they can't do it. Perhaps it is time for people to start reading what they are signing!! This is especially prevailant when the business has asked for an overdraft facility or loan - it is effectively a director's personal guarantee.
    Aha ! - Glad I do keep mine separate. Time to check the small print anyway. Many thanks.

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