Re: FN-FORUM: clearing a cheque - name not matching bank a/c name

date posted 20th January 2005 19:08

On 20 Jan 2005 19:43:32 -0000, Marc Wilson [EMAIL REMOVED] wrote:
>
> On 20 Jan 2005 14:51:47 -0000, Dave Edwards [EMAIL REMOVED] wrote:
>
> >I was tripped up recently on this. Client made cheque payable to me
> >personally rather than M4MAC. Eagle-eyed bank functionary spotted this
> >and refused to accept it. I tried arguing the point as M4MAC is a
> >proprietorship and not a legally separate entity but 'no dice'.
>
> For this reason, it's best to have sole trader accounts with a name that
> includes your name *and* the trading name: e.g. "Dave Edwards t/a M4MAC".
>
I have noticed that in my dealings with clients - don't know why my
bank didn't suggest that when I opened the account. Maybe I'll discuss
with my Account Manager.
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