When I want a clients bank details I ask for the following:
Bank name
Account name
Sort code
Account number
I asked today and for account name the client gave me "business account". I've had similar problems with other clients.
I've noticed that HMRC have asked for "Account holder(s) name" on the VAT registration form online but that doesn't seem fool proof.
Asking for a copy of a cheque could cause problems.
Any suggestions?
Replies (25)
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Don't you keep copies of statements?
We scan in, and keep, copies of bank statements. I get the details from there and ask if that is the account to use.
Most clients fill in a direct debit mandate, so we get the bank details that way, too.
Ask for a copy of a business bank statement. All the details you need will be on there.
Same here
Happens me a lot too. Thought it was just me. It's particularly annoying when it is close to a deadline and it's the last piece of information that you need.
Asking for a copy of the bank statement or the header of the bank statement might do the trick. Coincidentally, a customer of a client recently did ask for the header of a bank statement and I was wondering why. Now I know!
I understand the issue but...
...is it that difficult to fire off a quick call to clarify if needed? Unless you're dealing with hundreds of clients who are all making the same mistake (in which case perhaps your procedures need reviewing), I can't see it causing much of an issue in the grand scheme of things.
From a banking perspective, the name on the a/c won't matter for receiving payment, they only look at the s/c and a/c no.
I personally ask for the name of the account holder, not the account name.
I disagree
Asking for the name of the account holder is likely to cause more problems, especially as many people don't understand the concept of legal personality.
I disagree - asking for the name of the account holder would be much less confusing than asking for the account name. I'm originally from a banking background so can easily see why a client would answer that incorrectly.
Account holder name
I always ask clients for the "Account Holders Name" / name that the account is held in.
I can't ever recall the issue of a client stating "Business Account" or other bland descriptions such as "Current Account".
Stupid clients
Peter, you do seem to get more than your fair share!
Why not make the question idiot-proof?
Bank Name eg. Barclays
Account Name eg. J. Smith trading as Smith the Blacksmith
Sort Code eg. 31-04-62
Account Number eg. 01239876
That's OK, any time.
Of course and apologies
I seem to have upset you somewhat by questioning your current process.
I'm the new boy around here so i'll do my best to fit in and not to offend where possible by questioning the more seasoned members.
@ Platform
Why do think Peter might be upset?
Would you have been upset if the roles were reversed?
Why do you call yourself 'the new boy' when you have been a member for more than a year and a half and have actively contributed on many other threads? Just asking.
To you both
Hi guys
Thanks for the welcome Peter. Andy, I may have registered a while back but only now am I actively posting hence referring to myself as the new boy.
With these forums, it's extremely easy to take posts the wrong way without being sure how it was in fact meant. To answer your question though, I'd in no way ever be offended by anything said online. I walk in the virtual door, speak or listen then walk out again. It's not real life and I have no emotional attachment to it. I simply hope to expand my knowledge base along the way and perhaps even help others out on occasion.
Anyway, the wkd was not made for aWeb!!
Not real life?
[quote=Platform]. I walk in the virtual door, speak or listen then walk out again. It's not real life and I have no emotional attachment to it. (/quote]
Interestng, but you might find yourself in the minority.
How can the trials and tribulations of running your own practice, sharing the love and frustrations not be 'real life'. How can the friendships made and community spirit promoted not be real life? How can you not be moved by the sometimes hilarious, sometimes heartbreaking stories that you hear from fellow members?
This isn't Wii or Xbox. This is real life.
In the sense
...that I would never be offended by what others had to say. I've been knocking around these forums for long enough not to take a single thing personally or be particularly emotionally affected by it. If I want emotion, i'll go home to my wife and two kids for it (for better or worse!) I agree this particular forum is perhaps closer to ones heart than some I visit (I mod on a gym related forum for example) but still, it's hardly the be all and end all - for me at least anyway.
Not to detract too much more
thanks for explaining how superior you are. I'm sure we believe every word.
...from your OP Peter but how on earth did my last post explain my apparent self-perceived level of superiority? Andy asked me a question and I answered.
A couple of posts back you stated you weren't upset when you obviously are about something or you wouldn't be snipping the way you are. This is an honest statement now so take it that way: I apologise if I offended you by bringing your procedures into question or for any subsequent comments you may have taken the wrong way.
And since we're on a public forum, perhaps you (and Andy if needed) would prefer to PM me if you'd like to discuss anything further along these lines - public spats are a tad silly given the field we're in eh.
@Platform - (you'll have to forgive me, my keyboard doesn't like the enter key, so I end up writing one large paragraph) I agree with some of the others in the sense that 'Account Name' could be quite misleading. I would also stick to 'Name of Account Holder.' I've seen the latter used on most important documents I've come across, and even the banks use it. Technically speaking my 'Account Name' would be current account, or ISA. If it's happening with more than one client it's perhaps time to change your strategy with it. Give 'Name of Account Holder' a go and see if you have anymore success? Worst comes to worst and you could always try a bit of a longer point and ask them 'who's name is the nominated account in?' - no offense intended, I see people are getting a bit feisty for a Monday morning.
Thanks but...
@Platform - (you'll have to forgive me, my keyboard doesn't like the enter key, so I end up writing one large paragraph) I agree with some of the others in the sense that 'Account Name' could be quite misleading. I would also stick to 'Name of Account Holder.' I've seen the latter used on most important documents I've come across, and even the banks use it. Technically speaking my 'Account Name' would be current account, or ISA. If it's happening with more than one client it's perhaps time to change your strategy with it. Give 'Name of Account Holder' a go and see if you have anymore success? Worst comes to worst and you could always try a bit of a longer point and ask them 'who's name is the nominated account in?' - no offense intended, I see people are getting a bit feisty for a Monday morning.
You'll need to aim that last comment at Peter - this is his thread...
This is getting a bit silly now
@Platform - (you'll have to forgive me, my keyboard doesn't like the enter key, so I end up writing one large paragraph) I agree with some of the others in the sense that 'Account Name' could be quite misleading. I would also stick to 'Name of Account Holder.' I've seen the latter used on most important documents I've come across, and even the banks use it. Technically speaking my 'Account Name' would be current account, or ISA. If it's happening with more than one client it's perhaps time to change your strategy with it. Give 'Name of Account Holder' a go and see if you have anymore success? Worst comes to worst and you could always try a bit of a longer point and ask them 'who's name is the nominated account in?' - no offense intended, I see people are getting a bit feisty for a Monday morning.
You'll need to aim that last comment at Peter - this is his thread...
If Kirkers wants to say something to you why don't you think they can?
Peter - I read Kirkers post as though he/she was answering your OP thinking it was mine - and as luck would have it he he/she seems to have said pretty much as I originally did but added the disclaimer 'no offence intended'.
Oops.
You're right, you can tell it's Monday morning when I'm clearly too lazy to scroll to the top of the page and double check I'm directing an answer to the right person. Oops . Forgive me, I'll concentrate better next time! And yeah.. thought the disclaimer was a good call haha.@Platform - (you'll have to forgive me, my keyboard doesn't like the enter key, so I end up writing one large paragraph) I agree with some of the others in the sense that 'Account Name' could be quite misleading. I would also stick to 'Name of Account Holder.' I've seen the latter used on most important documents I've come across, and even the banks use it. Technically speaking my 'Account Name' would be current account, or ISA. If it's happening with more than one client it's perhaps time to change your strategy with it. Give 'Name of Account Holder' a go and see if you have anymore success? Worst comes to worst and you could always try a bit of a longer point and ask them 'who's name is the nominated account in?' - no offense intended, I see people are getting a bit feisty for a Monday morning.
You'll need to aim that last comment at Peter - this is his thread...
If Kirkers wants to say something to you why don't you think they can?
Peter - I read Kirkers post as though he/she was answering your OP thinking it was mine - and as luck would have it he he/she seems to have said pretty much as I originally did but added the disclaimer 'no offence intended'.