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Cross-referenced accounts.


monkquito
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Hello,

 

I am a director of my own plc and my wife is the secretary.

 

We have personal accounts and a business account with the same bank.

 

The business accounts come addressed to me as the director, but the online account for the business account is somehow cross-referenced with my wife's account.

 

Can the bank do this as

a) there must be a form of data protection act preventing the cross reference.

b) as director the accounts can only be cross-referenced to me.

 

Many thanks in advance.

 

Mr. M

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I'm not sure about the legalities, but personally I'd recommend that your wife gets another personal bank account anyway, purely in the interest of keeping some things separate/ different eggs in different baskets.

 

You might also want to consider having another personal bank account too, one that you use perhaps for a few things, pay some money into it for a few bills, and where you can stash payments if things start to get iffy with the business account.

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