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    • trailingspouse
    • By trailingspouse 4th Jul 17, 5:12 PM
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    trailingspouse
    Need a new business account
    • #1
    • 4th Jul 17, 5:12 PM
    Need a new business account 4th Jul 17 at 5:12 PM
    OK, so today was the day the camel's back broke, as regards our business account with Barclays. We've had problems in the past, but enough is enough.

    I need a new business account with a new bank. Any suggestions?

    We're a limited company, have been trading 7 years, don't need any business loans, just a debit card and the ability to have clients pay money to us electronically. We don't handle cash. Would be nice to have the option of business savings accounts too (I like to keep money for Corporation Tax and VAT etc in a separate account, and it might as well be earning a bit of interest). Oh, and a bank that's capable of getting our new debit cards to the correct address and on time would be an advantage...

    Also - how automated is the switching process? Is it similar to the way they switch personal accounts, or will we need to be more 'hands on'?

    Many thanks.
Page 1
    • fishybusiness
    • By fishybusiness 4th Jul 17, 6:23 PM
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    fishybusiness
    • #2
    • 4th Jul 17, 6:23 PM
    • #2
    • 4th Jul 17, 6:23 PM
    Never had a problem with HSBC.

    They are closing a few branches here and there so that may sway you, we kept ours on and also have Natwest account.

    HSBC much quicker at clearing cheques, maybe not an issue for you.
    • lush walrus
    • By lush walrus 4th Jul 17, 7:19 PM
    • 1,891 Posts
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    lush walrus
    • #3
    • 4th Jul 17, 7:19 PM
    • #3
    • 4th Jul 17, 7:19 PM
    We are with HSBC also, prior to that Santander who were terrible, they made too many errors. Never had an issue with HSBC and we have been with them quite a few years now.
    • rhino horn
    • By rhino horn 4th Jul 17, 7:51 PM
    • 49 Posts
    • 54 Thanks
    rhino horn
    • #4
    • 4th Jul 17, 7:51 PM
    • #4
    • 4th Jul 17, 7:51 PM
    We were with Nat West. Awful, awful, awful. Business advisor was next to useless.

    We now bank with clydesdale, slightly odd choice as we're in opposite ends of the UK but so far they've been great... And given us 24 months free banking.

    I wish first direct did business banking. I'd switch to them tomorrow.

    Wrf to switching, when we switched it was completely painless. Even all of our payees were transferred over (along with standing orders, dds). I think there was also re routing in place for a few weeks for the customers /suppliers who used the incorrect bank details.
    • trailingspouse
    • By trailingspouse 5th Jul 17, 8:34 AM
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    trailingspouse
    • #5
    • 5th Jul 17, 8:34 AM
    • #5
    • 5th Jul 17, 8:34 AM
    Many thanks. Hadn't thought of Clydesdale.

    Have just been looking at the Santander website, as we have our personal account with them. Have had no issues with that account, but their account fees seem a bit high (£7.50 per month, with no free period). Lloyds only charge £6.50, with 6 months free. We're currently paying £6.50 but we get a 98p (!!!) loyalty bonus from Barclays which brings it down to £5.52. Not feeling at all loyal...

    The account fees aren't the only deciding factor of course - but you have to start somewhere.
    • trailingspouse
    • By trailingspouse 5th Jul 17, 9:11 AM
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    trailingspouse
    • #6
    • 5th Jul 17, 9:11 AM
    • #6
    • 5th Jul 17, 9:11 AM
    So - I've spoken to HSBC - the guy told me their free banking period is 18 months, despite it saying 12 months on the website. They can't both be right, so that doesn't fill me with a lot of confidence.

    Clydesdale were very professional - they are currently top of the list. Thanks Rhino horn! My only concern (and it's a very slight concern) is that there are no branches locally (although we can use the Post Office for payments). I'd never needed to use a Barclays branch, until yesterday (had to go and get my new debit card printed as we never received the new one through the post and the old one had expired), but it was nice to know it was there.
    • paddyrg
    • By paddyrg 5th Jul 17, 1:41 PM
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    paddyrg
    • #7
    • 5th Jul 17, 1:41 PM
    • #7
    • 5th Jul 17, 1:41 PM
    May also be of interest, Revolut have started offering pretty full electronic business banking. I think their accounts are a little dear at the moment, but it's one to watch as they have other advantages
    • rhino horn
    • By rhino horn 6th Jul 17, 12:28 PM
    • 49 Posts
    • 54 Thanks
    rhino horn
    • #8
    • 6th Jul 17, 12:28 PM
    • #8
    • 6th Jul 17, 12:28 PM
    So - I've spoken to HSBC - the guy told me their free banking period is 18 months, despite it saying 12 months on the website. They can't both be right, so that doesn't fill me with a lot of confidence.

    Clydesdale were very professional - they are currently top of the list. Thanks Rhino horn! My only concern (and it's a very slight concern) is that there are no branches locally (although we can use the Post Office for payments). I'd never needed to use a Barclays branch, until yesterday (had to go and get my new debit card printed as we never received the new one through the post and the old one had expired), but it was nice to know it was there.
    Originally posted by trailingspouse
    As we have a post office close to home we haven't found banking through them much of a problem. You need a paying in envelope which you have to get Clydesdale to send a big box to you. You can also pay cash in as well.
    • martindow
    • By martindow 6th Jul 17, 12:58 PM
    • 7,089 Posts
    • 3,917 Thanks
    martindow
    • #9
    • 6th Jul 17, 12:58 PM
    • #9
    • 6th Jul 17, 12:58 PM
    Unless you have to deal with cheques or cash there is no need to worry about local branches. My experience of business banking managers at branches is that they are only really interested in selling insurance or other services and making annoying cold calls from time to time.

    I'm one of the few Santander customers not to have experienced problems that were not quickly resolved. I moved to them when they (rather rashly) offered free for life business banking.
    • rhysadams
    • By rhysadams 6th Jul 17, 4:22 PM
    • 197 Posts
    • 47 Thanks
    rhysadams
    Santander - £7.50 per month. But don't expect branch help, however telephone team is excellent.

    We turnover quite a bit of money and are saving a bucket load of cash on bank charges
    • Slinky
    • By Slinky 6th Jul 17, 8:37 PM
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    • 18,003 Thanks
    Slinky
    Don't bother trying the Coop. Took about 5 months to open our account, business running 12 years always in credit.
    • trailingspouse
    • By trailingspouse 8th Jul 17, 8:26 PM
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    trailingspouse
    We don't handle cash, either in or out, so no need for access to a branch.

    We have, I believe, a business adviser or somesuch at Barclays. When we first opened the account I think they were based in Kent. Now they're in Leicester. We're in West Yorkshire. They've never spoken to us - not even to apologise for the debit cards going astray, which would have been nice. In fact, if they'd called us when they first knew that it had happened, it could all have been sorted out and the replacement cards would have got to us before the expiry date - and we probably wouldn't now be thinking of moving banks. Silly Barclays.
    • WhyNot?
    • By WhyNot? 9th Jul 17, 11:11 AM
    • 42 Posts
    • 15 Thanks
    WhyNot?
    If you look in the sticky thread
    please read for links to important topics

    I see there's a link to a huge thread on business bank accounts, including a link to the appropriate MSE article
    • trailingspouse
    • By trailingspouse 10th Jul 17, 4:16 PM
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    trailingspouse
    Thanks WhyNot?, but that link doesn't work.
    • Savvy_Sue
    • By Savvy_Sue 12th Jul 17, 8:22 PM
    • 37,496 Posts
    • 33,804 Thanks
    Savvy_Sue
    Thanks WhyNot?, but that link doesn't work.
    Originally posted by trailingspouse
    Try this one? Bear in mind though that it's an old discussion, I'd start at the end and work back.

    But I'd also start with what you need: if you need access to a branch then you're limited to what's convenient, so contact those and see what's on offer. If you can do everything remotely, then broaden your search!
    Still knitting!
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    • trailingspouse
    • By trailingspouse 22nd Jul 17, 10:34 PM
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    trailingspouse
    Many thanks for all your help. We have now received the compensation from Barclays (£175 - I think they realised they'd not done good), so we're ready to move.

    We don't need access to a branch (well, assuming they can manage to deliver debit cards using the postal service we don't), so I'm going to go with Clydesdale. Many thanks Rhino horn, I honestly wouldn't have thought of using them if you hadn't mentioned them.
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