An alternative to business banking for plasterers
If you’ve found that the mainstream types of business banking for plasterers don’t give you the options you need when it comes to managing your professional finances, you’re not alone.
Plasterers work in a lot of different ways. You might be a sole trader or offer plastering alongside a range of other trades or decorating services. Or you might be used by one of the big building companies as a self-employed contractor who regularly provides them with services.
Getting the right business bank account for plasterers can make it much easier to manage your professional earnings as a sole trader or outsourced contractor.
But the high street banks will often charge quite high transaction fees for that privilege, and you might find their business accounts more complex than you really need in order to manage your finances effectively.
With an Arro Business Account, plasterers have an alternative – an account designed to meet business users’ needs, supported by an online account dashboard built for the job, and all with low transaction fees that are published in full upfront.
Using a personal account as a plasterer
Although you may be able to use a personal account as a self-employed plasterer, the high street banks would probably discourage you from doing so, and we would too.
This is about what’s best for you and your finances, and by separating your business transactions from your personal life, it’s much easier to track how much is available for you to buy materials, pay bills and so on.
In some cases – such as if you apply to work for one of the big building companies or you apply for a business loan – you might be asked to provide evidence of your business finance status.
With a separate account free of any personal transactions and spending, it’s much easier to provide an up-to-date statement of the health of your business – even if it’s just you trading as an individual.
Does a business account cost more?
A high street business bank account for plasterers may have some quite high fees on certain transactions – you might even be expected to pay a fee every time you deposit money into the account.
We try to make the Arro Business Account fairer, and that starts with our fee-free application process, so none of your money is put at risk until you know if you have been approved.
We only reject applications if there is a reason why it would not be legal or appropriate for us to accept you – apart from that, if you’re over 18, have a UK address and pass our Fair Fit test, we guarantee to approve your account.
Once open, there’s a low monthly management fee but lots of transactions, including all new Direct Debit mandates, all credits into your account, your first ten ATM withdrawals and your first ten online transfers and Faster Payments, are fee-free, so using your Arro Business Account will not necessarily cost you any more than the monthly management charge.
What you get
Every Arro Business Account comes with:
- A sort code and unique account number, just like a business bank account.
- Access to the Arro money management dashboard for online transactions.
- A Business MasterCard® debit card issued in your name.
- Virtual MasterCard® details via SMS so you can use your card online before it arrives in the post.
We do not offer overdrafts or credit cards – so there’s no need for a credit check or for you to prove your financial status or trading history.
You can apply for an Arro Business Account as a sole trader, a limited company or a partnership – we just ask that you are over 18 and can provide us with a UK trading address (or home address, if you use that as your business address) and that you meet our simple Fair Fit criteria.
The application process is free and takes just three minutes, and we never access your credit file in any way – the databases we use to verify the details you provide us with do not need access to your credit record.
We aim to accept all applications as quickly as possible and immediately send you your account details, as well as an SMS containing all the details about your Business MasterCard® that you need to start using it for online purchases until the physical card arrives in the post.