Advice needed: organising being paid via bank transfer etc.

[Marvin]

I'm sure this has been covered many times but I can't find a relevant thread.

 

I've never had anything to do with payment side regarding gigs, the band leader has always sorted it. In a new band and there isn't a band leader as such so we're a bit in the dark on some things.

 

We've got a gig coming up where the pub pays by bank transfer (on the day). This seems to be the way a lot of pubs etc are going. If it's a regular payment method for the places we're going to be playing, what's a good way of organising it for a band? 

 

To be honest I wouldn't want regular transfers going into my account and the 3 transfers going out...

 

Cheers

[mattpbass]

If you don’t want it going through your personal account, set up a separate account for the band with someone like Starling and make all payments in/out of that. 10 minute job to get one up and running. 

[chris_b]

You invoice the gig, the rest of the band invoice you.

[Burns-bass]

We have a Monzo account for band stuff.  To be honest it makes things much easier.

[Silky999]

We use a Starling account for the band. It really is only 10 mins to set one up

[Downunderwonder]

What's the collective term for these online banking services that don't require you fronting up with ten forms of ID?

[mattpbass]

Digital/online/app-based/mobile/challenger banks, I don’t think anyone has settled on exactly which of these. You do obviously still have to go through an ID process though, although it’s fairly easy, I think I opened the band account with my driving licence and a video statement. 

[Downunderwonder]

32 minutes ago, mattpbass said:

Digital/online/app-based/mobile/challenger banks, I don’t think anyone has settled on exactly which of these. You do obviously still have to go through an ID process though, although it’s fairly easy, I think I opened the band account with my driving licence and a video statement. 

How long ago?

 

When I got an XE account 10 or more years ago it was DL, Passport and multiple utility bills.

[Marvin]

12 hours ago, Silky999 said:

We use a Starling account for the band. It really is only 10 mins to set one up

Is that a personal account in one person's name? 

[mattpbass]

27 minutes ago, Downunderwonder said:

How long ago?

 

When I got an XE account 10 or more years ago it was DL, Passport and multiple utility bills.

In the last 3/4 years. I’ve opened a couple of accounts with different app-based banks, it couldn’t have been simpler or more streamlined. 

[mattpbass]

10 minutes ago, Marvin said:

Is that a personal account in one person's name? 

It has be tied to an individual unless the band is its own legal entity (ie a limited company etc). But it can be a business account that is “person name trading as band name”. 

[Silky999]

55 minutes ago, Marvin said:

Is that a personal account in one person's name? 

Yeah I just put it in my name and send payments to the other band members. It also makes it easier doing my tax self assessment as all the band stuff is in one place

[Dood]

Whilst you're at it, arrange with the band to have a member (at least) join the ISM or Musicians Union. You'll have access to their advice, legal department, PLI, gear insurance and most importantly template contracts to create your own, so that you don't get stuffed by unscrupulous "venues". when they skirt around accepted booking practices.