Is it safe to give my accountant HSBCnet access?

[Bateman]

Hi,

I'm director of my own Ltd company and outsourced accountants to an accountant company. They suggested me to give them access to HSBCnet of my business bank account so that they will have easier access to details on my clients payments.

Is it safe to give my accountant HSBCnet access?

Please advise
Thanks

[northernladuk]

I'd be asking HSBC directly if this is normal practice personally. It's ok getting advice from a bunch of strangers or even your accountant but I would want it straight from the horses mouth before I even considered something like this, even if the overwhelming response on her is it's fine. I would be triple checking before I give any details out.

It's quite possible looking at the HSBCnet's pages that something like this is above board and am sure it helps but with contractors accounts being so simple this just makes me a little nervous. Am quite happy to keep the control and send them anything they want when they want it, but that's my opinion.

[Scruff]

Are you mental? If the answer is yes, then give them the keys? If not then carry on invoicing.

[TheDandy]

Do they have open season on your account or display only? If they can't clear your account out for a trip to Monaco......

[northernladuk]

Some of the banks offer reporting portals that don't allow access to the actual account. I think that is what the OP is talking about. Not access to his bank account.

[Bateman]

Thank you for the replies.

Only BTR service is ticked in the list of the services of the application form. BTR seems to be "The Balance and Transaction".

[malvolio]

Thank you for the replies.

Only BTR service is ticked in the list of the services of the application form. BTR seems to be "The Balance and Transaction".

Ermm - "seems to be"? Your accountant presumably filled out the form for you to sign. This is your bank account, perhaps finding out how it works is a good start...

You pay the accountant to prepare your accounts. The money that those accounts represent is your responsibility, legally, as a company director. If you never take any notice of it and let your accountant do all the donkey work, how are you going to be in a position to sign things off at year end?

Keep your own records, reconcile them to your monthly statements and pass the details on as necessary. You want to be a director of your own company, start being one. And on progress to date, I would start thinking about getting a new accountant.

[cojak]

My accountant has access to their portal in FreeAgent. I keep all balances and transactions reconciled there and they're happy with that.

[Zedor]

Hi,

I'm director of my own Ltd company and outsourced accountants to an accountant company. They suggested me to give them access to HSBCnet of my business bank account so that they will have easier access to details on my clients payments.

Is it safe to give my accountant HSBCnet access?

Please advise
Thanks

Hi Bateman,

Are you with IMS like me? As I received the letter from them recently as well.

Cheers,
Z.

[CoolCat]

Ask the bank for a read only sign on for access to your account info, and give them that.