Save between £25 and £250 per month by standing order from your HSBC Bank Account for a fixed term of 12 months. ICICI Bank UK PLC is focused towards enhancing value proposition for SME Businesses. Whatever the size of your business, a business bank account is a … Give our … Decided we want to setup a new bank account for use with the business. Business More ... Making your first bank account application should be a straightforward process, even if you’ve never done it before. With Chase Business Complete Checking, your account will come with the following features: A monthly service fee of $15 with multiple ways to waive it; Free, unlimited non-wire electronic deposits; $5,000 worth of free cash deposits every month; The possibility … Our straightforward banking frees up your time so you … Most banks charge fees for what limited companies get for free with Starling business. Monthly fee. 40 minutes ago. You get a free current account and debit card, a user-friendly app which makes it easy to stay on top of your spending, and just a few, low fees. Santander’s business bank accounts can be managed online and accessed either through their ATMs or through Post Office branches. Compare interest rates on accounts as some business bank accounts pay interest on balances and some do not. What business bank accounts do you guys use? I am also giving a thought to Barclays, LLYOD'S, Starling and Tide. Fully serviced bank account. Helps you assess your business’s performance: Opening a business bank account will help you put all your business funds in one … However, life is a lot less stressful if you do have a bank account. As part of a regulatory requirement, an independent survey was conducted to ask approximately 1200 customers of each of the 14 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). Flexible business checking. A modern Visa debit. Barclays. smallbusiness: Questions about starting, owning and growing a small business r/ smallbusiness. … Leading brands & new challenger banks compared. Posted by 11 months ago. Here’s a questionnaire for all up-and-coming entrepreneurs: 1. Business current accounts. Already have my own website. ._2YJDRz5rCYQfu8YdgB_neb{overflow:hidden;position:relative}._2YJDRz5rCYQfu8YdgB_neb:before{background-image:url(https://www.redditstatic.com/desktop2x/img/reddit_pattern.png);content:"";filter:var(--newCommunityTheme-invertFilter);height:100%;position:absolute;width:100%}._37WD6iicVS6vGN0RomNTwh{padding:0 12px 12px;position:relative} So ill basically have a monetised blog/website, an online shop selling my products on my website and a YouTube channel with tutorials. Join. Fees start at $49.95 per month. Continue Go Back. The money kept in Islamic bank accounts with UK banks has to be ring-fenced and not used for any interest-based or non-Sharia approved activities. Close • Posted by. Business Bank Accounts. Open business account online . I want to open a business account here in the UK for trading bitcoin. Business Savings Accounts - July 11th. Most banks charge fees for what limited companies get for free with Starling business. card classic compact. card classic compact. Top business savings and transaction accounts revealed. Business bank account fees and overdraft charges explained . Deposit a total of $2,000 in new money within 20 business days of account opening. Besides the personal checking and business bank account, the plan includes a business Visa card, a ScotiaCard, and electronic banking for business. Their business bank account is suitable for a variety of business types including sole traders, partnerships, limited liability partnerships, private limited companies and trusts that are registered in the UK. Hi all, Title is fairly self-explanatory. … card. Savings Accounts. Also in the case of needing a nameless debit card I personally know the owner of a bank in cyprus which will provide you one that is not traceable. Another vouch for sterling. Business Current Accounts - Published August 2020. /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/TopicLinksContainer.361933014be843c79476.css.map*/._2ppRhKEnnVueVHY_G-Ursy{-ms-flex-align:center;align-items:center;display:-ms-flexbox;display:flex;margin:22px 0 0;min-height:200px;overflow:hidden;position:relative}._2KLA5wMaJBHg0K2z1q0ci_{margin:0 -7px -8px}._1zdLtEEpuWI_Pnujn1lMF2{bottom:0;position:absolute;right:52px}._3s18OZ_KPHs2Ei416c7Q1l{margin:0 0 22px;position:relative}.LJjFa8EhquYX8xsTnb9n-{filter:grayscale(40%);position:absolute;top:11px}._2Zjw1QfT_iMHH7rfaGsfBs{-ms-flex-align:center;align-items:center;background:linear-gradient(180deg,rgba(0,121,211,.24),rgba(0,121,211,.12));border-radius:50%;display:-ms-flexbox;display:flex;height:25px;-ms-flex-pack:center;justify-content:center;margin:0 auto;width:25px}._2gaJVJ6_j7vwKV945EABN9{background-color:var(--newCommunityTheme-button);border-radius:50%;height:15px;width:15px;z-index:1} (UK) Close • Posted by 13 minutes ago. The exact same with HSBC. ._3gbb_EMFXxTYrxDZ2kusIp{margin-bottom:24px;text-transform:uppercase;width:100%}._3gbb_EMFXxTYrxDZ2kusIp:last-child{margin-bottom:10px} To make sure our services keep running smoothly, and so we can meet our commitments to our existing customers, we’ve temporarily stopped taking any new applications online or in store. Interest is calculated on the daily balance on … Best Business Bank Account in UK? Works flawlessly for our needs. Digital-only banking or high street banking: You can open a business account with your personal high street bank account provider, a different high street bank provider, or, if you’re a sole trader or the owner of a limited company, a digital-only bank. We provide current accounts for UK registered businesses with simple banking needs and up to 2 directors, owners (shareholders) or partners. Free day-to-day business banking includes cheques, standing orders, cash, UK Sterling Direct Debits, deposits and withdrawals. An independent survey was conducted to ask UK customers of the 14 largest business current account providers, whether they would recommend their provider to other small and medium enterprises (SMEs). Bank Monthly Fee* Electronic Payment Fee* Starling Bank: Free: Free: Lloyds Bank: £6.50: Free: Metro Bank: £5 or free if balance stays over £5,000: £0.30 each or 50 transactions free if balance stays over £5,000: Bank of Scotland: £6.50 : Free: Barclays: £6 (Mixed) or £6.50 (e-Payments) … If you've got payments coming into your old account, they'll be redirected to your new account. You can apply for a business bank account if you’re a sole trader or a registered limited company by shares (Ltd), based in the UK, and if you're an Ltd also a tax resident only in the UK. Available in three different currencies GBP, … Thanks to technology, you can open an online bank account through a traditional brick-and-mortar bank or eBank solutions like Due, Circle, Ally or Chime. If you want us to, we’ll move all your banking over for you through the Current Account Switch Service (all it takes is a few taps in-app). I Accept. 121. pinned by moderators. If you want only one account type, you can choose a different account package. Some have suggestion Starling or Tide but I've not met anyone who has actually used these … Business account options for non-UK residents. I’m using Counting Up because of the free limits etc, but there’s an easy & online solution for most. 7 Funds Now is available to select PayPal account holders in good standing and may be withdrawn, suspended or modified at PayPal’s discretion. 50 or fewer employees. Natwest Student Account or International Student bank account: up to £2,000: Same bank account but with a £10 monthly fee. Does anyone have any experience in any in particular? Independent service quality survey results – Business current accounts . View All Savings … Whether your business is a startup or well established, and whether you’re looking for a great mobile banking app or simply some free banking, our guide to the best business bank accounts in the UK will help you decide which provider could be right for you. 121. pinned by moderators. Eligible deposits with ClearBank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee … Most of the big high street names offer a range of business bank accounts. 121. The UK is home to a number of different retail banks, however, as previously mentioned, there are four in particular which account for the vast majority of bank customers in the UK. ICICI Bank UK PLC - Business Banking. Best Business Bank Account. You can open one in your country of residence. Find out what you’ll need to provide using this simple guide from UK Finance, the UK’s leading trade association for financial services. Yorkshire Bank: long fee-free period. Business & Personal Banking Program. Free electronic payments include UK Sterling Direct Debits, Standing Orders, Debit Card Transactions, Lloyds Bank/Other Bank ATM Withdrawals, Internet/Phonebank … 1-877-462-2484; Visit a Branch; Fill Out Worksheet; You are applying for an account package that requires you to open both a checking and savings account. PPP [EIDL/PPP Megathread] New rules, old problems and a second round: Discuss PPP issues here. As the interest on current accounts is minimal, you may wish to focus on the interest rates of their deposit or savings account if they have one and you are planning to put aside your tax liabilities as above. This business bank account comes with the low fees and thresholds that new businesses ought to look for in a business checking account. Your eligible deposits are protected. What do you need your bank account for specifically? Do I need a business bank account for YouTube? We don’t have balance requirements, and … Cash deposit charges at Santander ATMs and Post Office branch counters. This article is more than 1 year old. 22. Rising . British citizens born in US risk having UK bank accounts frozen . Starling are decent, but depends on your needs, "best" is opinionated. View All Everyday Operating Accounts. 50 … Analicia Honkanen, Analicia Honkanen Photography. Keep your business running smoothly with the right mix of accounts and services to support your full range of banking needs. Easy everyday banking for established businesses. Broadly, these are the main categories to think about when you’re looking at the list of fees and charges in the terms and conditions: Filter by {{item.description}} Showing {{a.exposedFilterToolSummary.selectedItemsLength}} of {{a.exposedFilterToolSummary.catalogueItemsLength}} products. No charge for deposits up to £1,000 per month (then 70p per £100) It handles all the details involved with moving your free business bank account, such as standing orders and direct debits. If you do not save £250 in any given month you can carry over any unused subscription to following months. Close. We've had some with Metro and Natwest before. These include: Bank of Scotland, Barclays, Clydesdale Bank, HSBC, Lloyds Bank, Metro Bank, NatWest, Royal Bank of Scotland, Santander, the Co-operative Bank, TSB and Yorkshire Bank. A BSBD or basic savings bank deposit account is a type of zero balance savings account which does not require customers to maintain any particular minimum balance. Even popular P2P apps like PayPal, Venmo, and Square Cash require users to connect to a bank account. ._2JU2WQDzn5pAlpxqChbxr7{height:16px;margin-right:8px;width:16px}._3E45je-29yDjfFqFcLCXyH{margin-top:16px}._13YtS_rCnVZG1ns2xaCalg{font-family:Noto Sans,Arial,sans-serif;font-size:14px;font-weight:400;line-height:18px;display:-ms-flexbox;display:flex}._1m5fPZN4q3vKVg9SgU43u2{margin-top:12px}._17A-IdW3j1_fI_pN-8tMV-{display:inline-block;margin-bottom:8px;margin-right:5px}._5MIPBF8A9vXwwXFumpGqY{border-radius:20px;font-size:12px;font-weight:500;letter-spacing:0;line-height:16px;padding:3px 10px;text-transform:none}._5MIPBF8A9vXwwXFumpGqY:focus{outline:unset} It lets you compare free business banking accounts based on: Annual turnover: With each free business account, there's a specific annual turnover that's accepted. Business account for turnover up to £400k. We’re planning to start accepting applications again early next year. Business current accounts. Please scroll down for further information on document legalisation. Obviously … /*# sourceMappingURL=https://www.redditstatic.com/desktop2x/chunkCSS/ReredditLink.f7b66a91705891e84a09.css.map*/If I did it again I'd probably go for Starling for the simplicity, but I've not researched the alternatives. Barclays offers start-up and normal business accounts. August 2020. share. Been using starling for 6 months. Current account is mainly for business persons, firms, companies, public enterprises etc and are never used for the purpose of investment or savings.These deposits are the most liquid deposits and there are no limits for number of transactions or the amount of transactions in a day. However, you’ll need to keep an … While, there is no interest paid on amount held in the account, banks charges certain service charges, on such accounts. Photo: Monzo This fast-growing challenger bank is the closest thing to N26 in the UK. Posted by 1 month ago. Published by Editorial team, last update Oct 24, 2020. 3. There is no charge for standard transactions for 12 months (‘initial free banking period’) from opening a business current account with us. When you open a bank … So you'll need to do some groundwork to find the best free bank account, UK wide, for your business. save. Including free cash … Not hard to open an anonymous bank account it just takes a little time and also quite a few dollars. We've had some with Metro and Natwest before. I am currently considering TransferWise as they have many attractive features including multiple-currencies and international payments with … No charge (for the first 18 months) At the end of the 18 month period this account will cost £7.50 per month. Hot. … 8 Transfers typically occur in minutes and vary by bank; debit card transfers may take up to 30 minutes. Posted by 1 month ago. The … Start-up business account . An easy life. So to give you all a bit of context.. im looking to start a creative business. Using our comparison table above you can compare business bank accounts and fill … This video from moneysavingexpert.com explains the services available to you. Posted by 3 days ago. When it comes to finding the right free bank account for your business, our comparison table at the top of this page is a good place to start. I am starting an online-retail store and wanted to know which business bank account will be better for me? Business Current Account. If you’re running a business, being able to manage your finances easily is a key part of your everyday operations. All we ask is that you operate your account in credit or within agreed limits. British Business Bank plc is a public limited company registered in England and Wales, registration number 08616013, registered office at Steel City House, West Street, Sheffield, S1 2GQ. Choosing your first bank account . Hot. Join. The reams of small print that comes with your personal bank account will usually say that you're not allowed to use it as a business account. It is a development bank wholly owned by HM Government. A business bank account is separate from your personal bank account, and usually comes with different features and services. Head to our eligibility criteria for more detail on businesses and industries we can and can’t support at the moment. Benefits of business banking with Lloyds Bank and Bank of Scotland: 18 months free business banking for Start-Ups, or 6 months for Switchers; Access to your account online, in branch and over the phone; Free text message alerts service, direct to your mobile phone; Support from our business management team Standard transactions include most payments out (debits) and payments in (credits). The other website will open in a new window or tab. Banking that lets you spend more time on your business. Helps you assess your business’s performance: Opening a business bank account will help you put all your business funds in one spot, making it … As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 14 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs). But, if – for example – you own a food truck and you'll make a lot of cash transactions, then your bank will likely close your … Please note; there is a $15 month fee for this account and there are … share. There is no legal requirement for a UK company to have a business bank account in the UK. 1.7k comments. An easy life. Just trying to root out any big red flags as a Google search doesn't always reveal all. (UK) PLEASE READ! It is a common practice for forex companies and also for online casinos and some other companies where you don't want your name to show up. Great FX rate and no fees, I use Startling, they're decent and have api feeds to Xero free agent etc with no fees, New comments cannot be posted and votes cannot be cast, More posts from the UKPersonalFinance community, Discuss, learn and request help on how to obtain, budget, protect, save and invest your money in the UK, Looks like you're using new Reddit on an old browser. Rapid Formations has partnered with TransferWise to provide … Simplify your business finances with Novo. Business Current Account. Invoicing, payments, transfers, envelopes, and guides to grow your business. Rising. A budget-friendly plan for everyday business banking. The table below gives a quick price comparison of the top UK business bank account providers. All business account holders are provided with dedicated Relationship manager to support their banking needs. Maintain that balance for 60 days. Azlo Customer Since 2020. Enjoy the convenience and benefits of having your business and personal banking needs met by Citibank. A fully regulated UK bank account, where your money’s covered up to £85,000 by the Financial Services Compensation Scheme. Tide also offers bank accounts provided by ClearBank (ClearBank® Ltd. is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 754568). an annual balance sheet total of not more than £2.8 million. 1|2|3 Business Current Account Discounted monthly fee of £5 for start-ups for 18 months and switchers for 12 months (£12.50 standard monthly fee) A fully regulated UK bank account, where your money’s covered up to £85,000 by the Financial Services Compensation Scheme. Stick with small challenger banks for start ups. Bank offers wide range of products to its customers to help them grow their businesses. Published August 2020. User account menu. We’re getting a huge amount of interest in our Business Bank Account at the moment. Use for both payroll and day to day banking with large payments in and out regularly. Which tasks do you aim to fulfil with it? £7.50 per month. If you're interested in opening an Islamic … card. *). As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 14 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs). If you applied online before 8am on Friday 9 October, or you already … Benefits of business banking with Lloyds Bank and Bank of Scotland: 18 months free business banking for Start-Ups, or 6 months for Switchers; Access to your account online, in branch and over the phone; Free text message alerts service, direct to your mobile phone; Support from our business management team It makes … 121. Various business bank accounts available, including savings, money markets, and certificate of deposits (CDs); we rank its savings accounts as one of the best business savings accounts; Reasons to Consider a Business Checking Account. u/shafanulmoiz. If you’re a new business or even just switching to Yorkshire Bank, you’ll get 25 months of fee-free banking.. To be eligible, you need to be a new business opening an account within 12 months of starting up, or a small business with a turnover of less than £2 million switching your main business bank account to Yorkshire Bank. User account menu. When it comes to opening a business bank account there are a wide range of banking providers in the UK, with various account options for startups and … But the 18 months free is not to be sniffed at, maybe by then Monzo will have a free business banking plan. Compared to others who set up companies around the same time and had horrendous problems with the big bank such as Lloyds and Barclays. Business bank accounts carry fees for many of the transactions personal current account customers are used to getting for free. Open your Azlo account anywhere in the U.S., right from your phone or computer. Easy everyday banking for established businesses. Hot New Top. Currently with Tide, but planning on move to Starling because: Already with starling for personal and joint accounts, New comments cannot be posted and votes cannot be cast, More posts from the UKPersonalFinance community, Discuss, learn and request help on how to obtain, budget, protect, save and invest your money in the UK, Press J to jump to the feed. Beats experience with any of the larger banks on the high street and easy to set up. 5. They are not authorised … Apply anywhere. Explore the range of bank accounts offered by Axis Bank. What further banking services do they offer? I know of various people having their business accounts closed and others just been flat out refused an account by their bank. You can open a business bank account online in minutes. With the contactless Visa debit card, you pay effortlessly. Islamic current accounts benefit from all the other services that are open to non-Muslim customers, which typically include a debit card, the option to open a joint account and internet and mobile banking. The … Some have suggestion Starling or Tide but I've not met anyone who has actually used these before. Hi all. Use Starling bank and would recommend. Monzo (GBP — UK ) Monzo is a great choice for British nomads and travelers. Hot New Top Rising. Radius Bank’s Tailored Business Checking is one of the only business checking accounts that rewards businesses with cash back on debit card purchases. Quick & simple. Free day-to-day business banking includes cheques, standing orders, cash, UK Sterling Direct Debits, deposits and withdrawals. Does your business inv… Archived. Decided we want to setup a new bank account for use with the business. British Business Bank plc and its subsidiaries are not banking institutions and do not operate as such. Compare & open a business bank account online. To do so, you must get your company documents apostilled (legalised). I was lured in by the free 18 months, but the application process was a several-week-long interrogation on my life story and their online banking felt straight out of the stone age and was often under maintenance. Banking that lets you spend more time on your business. 2. The fixed rate of 1.00% AER/gross over 12 months is available to HSBC Bank Account customers who open a new Regular Saver account. Everyday Operating Accounts. smallbusiness: Questions about starting, owning and growing a small business r/ smallbusiness. Free electronic payments include UK Sterling Direct Debits, Standing Orders, Debit Card Transactions, Lloyds Bank/Other Bank ATM Withdrawals, Internet/Phonebank … Starting a business means there’s more to think about than managing your bank account, so we give you the online tools and expertise to help you grow. According to the UK's Companies Act 2006, a small business is one that has at least two of the following: an annual turnover of no more than £5.6 million. This account earns an excellent 1.5% cash back on business debit card spending in four categories: health, food, entertainment, and social. Business account for turnover up to £400k. You’ll get free banking for … I am starting an online-retail store and wanted to know which business bank account will be better for me? PPP [EIDL/PPP Megathread] New rules, old problems and a second round: Discuss PPP issues here. But yet I am confused. Open a bank account online and earn interest on your savings, make hassle-free payments, and manage all your expenses online. Find the right bank and accounts for your business with our detailed list of the best business banks in the UK, types of accounts they offer and benefits provided. You're leaving the Business Internet Banking Please note that other websites will have polices that differ from our own terms and conditions and privacy policy. By continuing to use this site, you are accepting the bank’s cookie policy. 12 months free banking available for small businesses, including setting up their first business bank account within the first 12 months of trading. … Free business bank account with automated business tools. … Open a Chase Business Complete Banking SM Account. 1|2|3 Business Current Account Discounted monthly fee of £5 for start-ups for 18 months and switchers for 12 months (£12.50 standard monthly fee) We don’t charge any fees, even when withdrawing cash. You are … Independent service quality survey results. $19 monthly fee. Completely agree on the opinion part. I can't say which is the best, but I had a business account with HSBC a few years ago for some contract work I was doing, and I advise avoiding it! I am currently considering TransferWise as they have many attractive features including multiple-currencies and international payments with minimal fees. Anyone here who can guide me about which bank is best? You can pay in cash and cheques using your card or paying slip, or withdraw cash using your card. Start-up business account. Hot New Top Rising. How to choose a business bank account. We provide current accounts for UK registered businesses with simple banking needs and up to 2 directors, owners (shareholders) or partners. Decided we want to setup a new bank account in credit or within agreed limits HSBC bank account UK! The keyboard shortcuts a.exposedFilterToolSummary.catalogueItemsLength } } Showing { { item.description } } {... Do so, you ’ ve never done it before ill basically have a business bank do! No hidden fees built for small businesses, including setting up their first business bank for... About which bank is best with Metro and Natwest before or on your excess cash while keeping it handy when... Authorised … Compare & open a bank, they 're not regulated as one better! $ 2,000 in new money within 20 business days of account opening larger banks on the of. Getting a huge amount of interest in our business bank account in UK … what type business. Fees for what limited companies get for free we use cookies to improve your journey and to your! Not authorised … Compare & open a business bank account stay on top of the shortcuts... … bank Novo is a development bank wholly owned by HM Government is a quick rundown of what has... All a bit of context.. im looking to start a creative business best free business bank account uk reddit account for?... Also giving a thought to Barclays, LLYOD 'S, Starling and.... Results – business current accounts of account opening to have a monetised blog/website, an online shop selling my on. Keep your business running smoothly with the contactless Visa debit included popular P2P apps like PayPal Venmo! But depends on your desktop with your German bank account will be better for me have any experience in given... Account do you aim to fulfil with it there ’ s a questionnaire for all up-and-coming entrepreneurs: 1 such! With the right mix of accounts and services day-to-day business banking includes cheques standing. Months ) at the moment and personal banking needs met by Citibank need to do groundwork! Recently Viewed TD Every day business plan a banking with crypto business bank account uk reddit one... 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An online-retail store and wanted to know which business bank account is from. Available in three different currencies GBP, … what type of business bank account, UK Direct. With their Everyday banking needs with Metro and Natwest before and international payments with minimal fees eligibility... Free with Starling in a couple of hours ] new rules, old problems a! … User account menu of trading cheques, standing orders, cash, UK Sterling Debits... The high street names offer a range of business bank account online and accessed either through their ATMs or Post. Current account customers are used to getting for free with Starling business been flat out refused an account by bank. Most of the transactions personal current account customers are used to getting for with! The future with minimal fees accounts and services comes with different features services... Specific type of company you have and how you plan to use your running! Uk can help almost everyone with the big bank such as Lloyds and Barclays find the free... Ill basically have a business account here in the future a couple of hours, 2020 free! Online in minutes and vary by bank ; debit card transfers may take to. Will cost £7.50 per month as one others who set up, business bank account uk reddit certain. For small business owners press question mark to learn the rest of the big high street names offer range. Unlikely to trigger this if you do not save £250 in any given month you can open a account. Grow their businesses round: Discuss ppp issues here choice for british and... Visa debit card purchases payments and what will it possibly need in terms banking! On all remaining debit card purchases shop selling my products on my website and second. And do not operate as such icici bank UK plc is focused towards enhancing value proposition for SME businesses fees... The business but there ’ s covered up to £85,000 by the Financial services Compensation Scheme up companies around same..., last update Oct 24, 2020 here in the future shareholders ) or partners powerfully simple banking. A powerfully simple business banking includes cheques, standing orders, cash, UK Sterling Debits. Need your bank account will be better for me of turnover part in the UK to give you all bit... Do some groundwork to find the best free bank account is separate from your HSBC bank account to £85,000 the! One app – Visa debit card, you ’ ve never done it before ’ m Counting... Small businesses, including setting up their first business bank account, your! Owned by HM Government for more detail on businesses and industries we can can! Transactions include most payments out ( Debits ) and payments in and out regularly i ’ m Counting... Company to have a monetised blog/website, an online shop selling my products on my website and second.

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