Business Bank Accounts – Lowest Bank Charges

ianb_5

My small business account has come to the end of its first 18-month period at NatWest and I am now having to pay hefty bank charges. Can anyone please recommend a High street bank offering reasonably low, maybe even zero, bank charges?

Incidentally, I would much prefer to use a high street bank because harsh experience has taught me to cash in cheques personally. NatWest do not accept liability for cheques posted to their branches, even if sent by “signed for recorded” post. As far as they are concerned, they only accept responsibility if a receipt is obtained for handing in cheques across the counter (in the form of a stamp made in the paying-in book). In addition, they require me to photocopy all cheques and write on the back of each three bits of information – my company name and post code, my account number and my sort code.

dchurch24

I believe (and I don't know this for sure) that Allience and Leics do a 'free' business account.

JoseChungsDoomsday

bank of scotland are the same and do a high interest rate when in credit. my friend uses bthem and has had no problems at all

Chippy_Minton

Abbey National Business have free banking forever as long as your accounts falls within certain transaction limits - see here. I can recommend them.

Mark7799

Chippy_Minton wrote:

Abbey National Business have free banking forever as long as your accounts falls within certain transaction limits - see here. I can recommend them.

Yes, but they don't allow paying in over the counter - one of the OP's criteria

To pay money in, you can choose from posting cheques direct to the banking centre or paying cash or cheques into the ATMs at Abbey branches. You can also arrange for electronic payments to your accounts by BACS or CHAPS.

iceburn

Other option might be of benefit if he is a member of the Federation of small business

http://www.co-operativebank.co.uk/servlet/Satellite?cid=1112694840369&pagename=CoopBankv2%2FPage%2FtplCBv2PageStandard&c=Page

they give £25 a year, can pay upto £4,000 cash into it per month free, through CO-OP Bank or local post office, and all other like DD/SO/CHQ, etc are free. If put more than £4,000 cash in per month you are charged 75p per £100. If your turnover is on the other hand very rich in in CASH. Than the Alliance and Leicester one might be cheaper cause they charge I think it is 20p per £100 cash after £1,000. Which makes A&L become cheaper once your Cash turnover is over £5100 a month or £1133 a week. (using 4.5 weeks in a month.)