I have the chance of earning some money doing bits of writing but I use a pseudonym. Is it possible for me to open an account in that name? I don't want the people paying me to know my real name and will probably get paid in cheques made out to my 'nom de plume', though obviously don't mind the bank knowing.
Just realised this sounds a bit dodgy, but it's a serious question. Only relatively small amounts of money will be involved, but I'd like to keep it separate from my everyday account.
You can set up a "sole trader account"...you can call your account any name you like, for example...if your name is Henry Taylor but you wish to recieve cheques made payable to Joe bloggs, you can explain this to your manager (so he understands that nothing suspicious is going on) and you can have your account in the name of " Joe Bloggs" however, your account will be in the name of Henry Taylor, and it is the business name that is "Joe bloggs". On your cheques it will appear: Henry Taylor trading as Joe bloggs. But if you wish to set up an account purely in a different name, you can do this but you have to change your name by "deed pole" the banks are governed by anti money laundering legislation that means they need to check carefully the persons identity. However, you can call yourself whatever name you wish, and when it comes to payment you can have a normal business name.....Joe bloggs writting company ltd.? or something.. Best advice is just phone up your local business manager, he will explain in details at your local branch ..but specify business new accounts. I don't> want the people paying me to know my real name and will probably get paid in
There is nothing illegal having an alias as long as you are not using it for illegal activities. However, I suspect that banks will not be keen to open a bank account in a name other than your own due to the onerous obligations under the money launderng legislation to prove the identity of the owner. Talk to your bank and explain the situation. They might be more helpful than you think.
As others have pointed out the worst case is you have an account name Liz t/a Jane Doe. Cheques and payments into the account would be in the name Jane Doe and everyone except you and the bank would be none the wiser.
What is this "deed pole"? - do you have one or do the banks and what is this pole made out of? Or do you mean "deed poll"
You don't need one to change your name either. You could just say I want to be known as John Doe and that is legally sufficient to change your name in the eyes of the Courts. Red tape and fraud has meant that you effectively need a deed poll to change your name now and definitely as far as Government is concerned. A deed poll was originally a court approved document acknowledging a change in name (although the origin of the name dates back to just a document).
If only I had the foresight to open lots of accounts years ago. I can remember opening a Halifax card cash account and all they asked for was a
They gave you a card on the spot and sent the pin number to the address you provided. I could have chosen any name. 20 years on I would have had lots of aliases.
You don't need one to change your name, but you do need one to open a bank account in a name other than your one you have on your birth certificate...and in order to get a passport or other acceptable documentation you need a deed poll.
You could just say I want to> be known as John Doe and that is legally sufficient to change your name in
Almost. You can trade as whatever you like, but opening a bank account in that name is another matter.
Yes, but you would need to provide evidence of the bona fides of that business before the bank would collect a cheque payable to "doctor stephen golden gun"
1/ Satisfaction that the bank is satisfied you have or are going to operate a "genuine business".....so for example say you wish to sell golf balls onthe internet....it is a business activity.
2/ The issue of what name you call that business is distinct from " the issue of what name you call it".. So I think we can draw the conclusion that "assuming the bank are satisfied you are genuinely wish to start a genuine business"...the name you choose to call your business is nothing to do with the bank.... The issue of what name you call a business is arbitrary and as long as it is not a name that has a few certain forbidden words such as "royal" or"British" or perhaps a few other words, you can call it anything you wish, as long as it is not obsene or contrary to common decency. This is how I understand it, as it currently stands.
So going back to the original question..it would seem that any bank given the legitimacy of having thebusiness of "writer" could easily have....
"his name" trading as "his psuedoname" From the general opinions and discussions hear and I feel their is consensus and general agreement on this point by everybody.
Not so. Do pay attention. She doesn't want the people writing cheques
*to her* to know her real name, so Lizzie Bryce t/a Jake A Rowling sounds just the ticket. She can easily hide her name from anyone to whom she might need to send money (e.g. refunds) by sending a PO rather than a cheque.
That is obviously the relevant legisation covering this question. However, may I put the question another way.
What exact part of those three acts would stop a bank from opening up a sole trader account under her name....liz doe trading as "mary smith"., for her business?
So she has met with all criteria...eg. the main one being she has not violated the Business Names Act. and as this business is writting a book,and it is a new business then their is no question about a legitimate business? What would actually stop someone in practice? I think nothing...their is no law about what you can call your business as long as it does not break the Business Names Act, which is applicable to any name you wish to call your business.
I am interested to know in practice, although I am aware of that legislation I still can't see what would stop you having free choice over your name? Her legal name/identity is still on the account, and her legal name and identity is still on the cheque....
You can choose any name you like, with the obvious exclusions of Crown, Bank, etc.,
The problem is the collection of cheques payable to the business name.
The Business Names Act is only relevant to the thread in so far as the real name must be disclosed on business stationary etc, so it isn't relevant to the question you now ask, but obviously stops the original person from hiding their identity fully from their customers.
If you go into a bank and say that you are trading as 'John Boyle' for the purpose of writing a book, then the Cheques acts (and tort) specifically puts the onus on the collecting baker to ensure that they are collecting the cheque for the true owner and are not converting the cheque by paying it to you.
The Money Laundering Acts puts a specific obligation on the bank and its employees to prevent and report money laundering activities.
Both of these requirements mean that the bank needs more evidence than just your word before they will go ahead.
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