There is no legal requirement to have a business bank account but I would suggest you discuss this with your bank. Some issues do arise if you run a limited company.

For instance, you wouldn’t be able to pay in cheques written out to your business name to a personal account.

Obviously for sole traders this doesn’t apply as they can trade under your own name. However, most banks would ask you to open a business account if they realised you were using your personal account, in order to guard against fraud attempts and, as you say, so they can levy charges.

If you don’t comply, they could close your account

You might also want to consider opening a business account to keep personal and business finances apart.

This will make accounting, tax returns and finances in general much easier to organise and less time consuming.

Many Banks will offer a charge free initial period for new business accounts and you could benefit from a business manager or adviser to help you with your finances.

See also: Small business banking: A complete guide