Two business names on one chequebook?

Can anyone advise please? My company recently registered a new business name, which is starting to generate more income. I assumed the bank would let me accept cheques made out to the new business name and lodge to the same account, but they have informed me I would have to open a separate account for the new biz, which I think is unfair, because it would be more expensive. On our letterheads etc. is current biz name....trading as new biz name. Its annoying as I have to request new customers to make out cheques to the old business name?

Money laundering legislation requires that the name on the cheque matches the name on account. I had the same issue with my bank. I opened a new account and benefitted from new account deals.

You may be able to countersign the cheque as a third party and lodge that way, though not if crossed.

If you trade as ABC LTD and have registered a new business name say ABC Ltd t/a xyz.

You can then operate your account (and chequebook) as ABC Ltd t/a xyz and you will be able to lodge cheques to the account payable to either ABC Ltd, ABC Ltd t/a xyz or xyz.

What piece of fact do I need to present to the bank to allow me to do this as they insist I must open a new account? The old biz registered the new biz name. I want cheques made out to xyz to avoid lengthy explanations to customers, since the old name is not a great name. Thanks

Certificate showing the Registration of Business Name - from the Companies Office ....