09/11/2023
When you are asked to register your Business with CAC and open a Corporate bank account for it, this is why we always emphasize on it.
Imagine losing this client simply because you gave him your personal account instead of an account that bears your Business name. He will see it as red flag and refused to make payment to you. I've personally experienced this where a prospect who was ready to make payment was waiting for my business account details before he makes payment.
The moment I sent him my business account details, he was convinced and then made the transfer immediately.
According to him, if I had sent him an account bearing a personal name, he wouldn't have made the payment and that's how I'll loss the contract.
What may also happen here is a case where a worker decides to play a fast one on the company. Increasing the prices of goods and services rendered, far above the company's price, then send in his own account details for payment instead of company own, have a cut and pay back the rest to the company.
Sometimes, it may even be a case of fraud where they may be misrepresenting the company.
I urge you, if you're a business owner, make effort to have a Corporate bank account in the name of your business or company, and such corporate bank account must be with a commercial bank, not all these digital online banks which allows anybody to open a corporate account without any verification.
Go and register your Business with CAC, then open a corporate bank account and save your Business from this mess.
Reach out now via Whatsapp on 07065080917
Photo credit: Chioma Ifeanyi-Eze wall.
