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Banking Info Needed

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Random Banking Question !! Currently I sell some software / code to clients with them paying using either PayPal, Nochex or Netbanx. All this is done online. This seems to work OK, but I kee…
TomT Avatar
6y, 1m agoPosted 6 years, 1 month ago
Random Banking Question !!

Currently I sell some software / code to clients with them paying using either PayPal, Nochex or Netbanx. All this is done online.

This seems to work OK, but I keep being asked to allow support for Bacs, Chaps and FasterPay.

I can do this using a normal UK Bank account,
BUT.. I don't want people to know it's me, they are paying !!

Currently they don't pay Mr Smith, the make the payments to domain_name. (nothing illegal, I don't want my current employer to know I write and sell code - it's nothing to do with them or my full time job, but it's better to keep it separate )

So are there any online UK banks that will allow Bacs, chaps, fasterpay etc, allowing the clients to pay to an alias ?

Thanks

I think that makes some sense...
TomT Avatar
6y, 1m agoPosted 6 years, 1 month ago
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(28) Jump to unreadPost a comment
Comments/page:
#1
people can pay money into your account without knowing your name-they only need the account number and sort code.
#2
True, but from the Sort Code they can find the location, which gives the game away !!
#3
yup exactly, or what you can do is create an online saving account and I think they wont be able to trace where you are from or your name.
#4
With PayPal, you can change the name.
Receipts for payments are sent showing the domain name, not mine.
I've tested this, and it does work..
#5
Hmm.. When payments are received the receipt doesn't show my name !!
I've made payments to this account and my name doesn't appear..
#6
Set up a new bank account?
#7
The sort code will tell someone the location of your branch, but they won't know anything more than that. If you're concerned, set up an account at a branch not local to you


anyway, how would your employer find out? You worried one of your clients might turn out to be one of your colleagues?
#8
anyway, how would your employer find out? You worried one of your clients might turn out to be one of your colleagues?


This is quite possible !!
#9
When you send a payment you get a receipt saying you've sent £xx to Joe Bloggs or whatever.


true, mine says you've sent £xx to domain name....
#10
The only other thing I can think of is you would have to create a bussiness account with a company name and I think that should do the trick but the account would have to be online to avoid the location problem.
#11
Thanks that's one idea !
1 Like #12
May i ask what kind of fraud are you carrying out?
#13
Sounds like you're possibly not allowed to sell code? Something to do with your line of word and their code of conduct?
#14
transit
May i ask what kind of fraud are you carrying out?


Exactly, the OP could well be selling our Credit Card details for all we know.

This all seems very dodgy to me.

Perhaps the OP could explain exactly what he/ she is selling.
banned#15
should really be taking payments into a business bank account. Dont forget the earnings are taxable (dont want you getting prosecuted for tax evasion).
#16
you need to be careful here with current anti-money laundering laws, just set up a business and get accounts in that name. or donate the payments to charity...
#17
But , business accounts are such a rip off and your paying for the privelege. Barclays stung me when I had my business account with them , that's why I would never touch them again . Every transaction made had a fee . At the time , early 90's , I think I paid 62p for every cheque I deposited . I would say ,stay away from a business account .
banned#18
ricko
But , business accounts are such a rip off and your paying for the privelege. Barclays stung me when I had my business account with them , that's why I would never touch them again . Every transaction made had a fee . At the time , early 90's , I think I paid 62p for every cheque I deposited . I would say ,stay away from a business account .

you obviously didnt look properly. There are free business accounts around for very small businesses like this one.
#19
ricko
But , business accounts are such a rip off and your paying for the privelege. Barclays stung me when I had my business account with them , that's why I would never touch them again . Every transaction made had a fee . At the time , early 90's , I think I paid 62p for every cheque I deposited . I would say ,stay away from a business account .

Some accounts offer free business banking for the first year (for new startup companies).

Unless TomT has a unique surname ("Mr Smith" isn't unique, I don't think) then why would anybody think it was the same "Mr Smith" that they sit next to?

Perhaps the software being sold is so bespoke it would be obvious, or perhaps the terms & conditions of employment preclude any "moonlighting" or any code developed (during business hours) remains the property of the organisation.

Perhaps TomT is selling copyrighted software that an employer has the rights to.

This aside, if you are worried about a Sort Code giving away your location, use an online only bank account (as mentioned above) or use a high street bank (e.g. Abbey, now Santander) that uses a single Sort Code across all branches.

BFN,

fp.
#20
PS. ...or open a bank account in a different town/city to the one you live in.

BFN,

fp.
#21
Just to put the record straight...
Every penny earned is declared.

I work for a company that has nothing to do with the code I write (different business areas).
It is coded in my time on my computers, So this code is of no interest to the business.

My contract doesn't mention 'moonlighting' etc, so there is no conflict there.

Only issue I have is my employer believes he own anything his employees do in their own time. IF I was employed to write code etc, then I would sort of agree to some of this... but as I'm not then this has nothing to do with them.

Hope that clears it up !!
#22
".you obviously didnt look properly. There are free business accounts around for very small businesses like this one."

Ok then Mr Big Head . who does free business banking ?
When I started my business back in 1988 , some banks did free banking for the first year , then you paid after that . Things may have changed since them , but most banks make there money from business accounts .

Personally . Nowadays , I wouldn't give a monkeys about declaring money I earned on the side , I pay enough through normal taxation as it is , the increase in VAT is an example .Most big companys have tax fiddles and loopholes and dont declare everything so why should I .
I never used to odopt these atitudes but , with the MP scandels and big banker bonus's and such of late , I really dont care anymore .
#23
TomT
...Only issue I have is my employer believes he own anything his employees do in their own time. IF I was employed to write code etc, then I would sort of agree to some of this... but as I'm not then this has nothing to do with them.Hope that clears it up !!

Is that in writing in your Employee Contract? Did you agree to it?

BFN,

fp.
banned#24
ricko
".you obviously didnt look properly. There are free business accounts around for very small businesses like this one."

Ok then Mr Big Head . who does free business banking ?
When I started my business back in 1988 , some banks did free banking for the first year , then you paid after that . Things may have changed since them , but most banks make there money from business accounts .

Personally . Nowadays , I wouldn't give a monkeys about declaring money I earned on the side , I pay enough through normal taxation as it is , the increase in VAT is an example .Most big companys have tax fiddles and loopholes and dont declare everything so why should I .
I never used to odopt these atitudes but , with the MP scandels and big banker bonus's and such of late , I really dont care anymore .

bit tetchy arent we lol

look around now and all will be revealed before you start chucking all your toys around! GROW UP!
#25
Is that in writing in your Employee Contract? Did you agree to it?

Nothing in writing or verbal !! I just 'thinks' it !! Not worth the hassle though..
banned#26
TomT
Is that in writing in your Employee Contract? Did you agree to it?

Nothing in writing or verbal !! I just 'thinks' it !! Not worth the hassle though..


Your name dilbert? :D
#27
That should have said He just thinks it !!
#28
How long have you been employed? Greater than two years?

If you/he just thinks it, & no agreement exists (verbal or otherwise) to restrict your (personal) activities outside of office hours then don't worry about it.

Should the time come the Employment Tribunal will be amusing.

In the meantime; work to live, don't live to work.

Direct your ("pointy-haired boss") employer to the Slave Trade Act 1807 & the Slavery Abolition Act 1833.

BFN,

fp.

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