Small Business bank accounts

gsdjj

Habing sat and read ALL the postings some years after the first post was entered It makes great reading. I was hoping for advice on what bank to place my tiny amounts of money with. I have been running a small business through a separate personal account for 5 years now with Lloyds but they have started asking awkward questions.

I told them sort of the truth the other day so am now waiting to be asked to leave. Hence I am frantically looking to jump before I am pushed.

I shall look up the Abbey and Cater Allen banks and see whats what.
I have just changed from a sole trader to a partnership (I think it was done for tax purposes although Im not sure why the accountant did it) .. probably want listening at that point ;-(

Thank you all for the advice.. More studying to be done

Incidentally I tried the A & L and they wouldnt accept us as our turnover at £18k was too low for them!!!!! I felt very inadequate I can tell you!

Kilty_2

What about Lloyds ?

My turnover when I opened my account with them was £200

Savvy_Sue

I agree with Kilty: if you have been a good personal customer of Lloyds then they ought surely to give you the choice of leaving or changing to a business account with them. It may not be the 'best' account (and what is 'best' for one is not necessarily any good at all for another!) but at least it gives you a breathing space ...

Kilty_2

The only downside of their account is that the charges are high when compared to some other banks but they do have a large branch network and the telephone customer service is excellent.

If you are turning over £18k+ then I imagine you'd need a decent branch and support service, something that the free accounts with Abbey etc simply can't offer.

giada

I am about to buy a small business and will need to open a business bank account. So, I am looking for advice on where is the best place to put it! HIgh street banks in the town are Barclays, Lloyds and HSBC but I also have private accounts at the Co-op and can bank over the Post Office counter there. I don't wnat to be leaving large sums of money in the shop as it could easily be broken into. Any suggestions please??

Horace

Well I do know that Lloyds TSB offer a free nightsafe service to small businesses.