Business Savings Account - Advice Please

claireanded

I could do with some advice!

I have £23k sitting in an HSBC business savings account at a paltry 1.6% :mad:interest. These are savings of our limited company

a) does anyone know of a better business savings account (pref instant access)
OR b) do I take it out of the business into my name and put it somewhere as personal savings - I am currently a non-tax payer. (I could do this at the moment with no tax penalty due to the fact I have personally lent the business £90k to get it going and it could come back as repayment of loan....BUT I really want to keep it in the business name as it is essentially there to be repaid to creditors with whom I have 30 day accounts if you see what I mean)

Editor07

http://www.standardlife.co.uk/content/savings/business/business_index.html

or

https://www.alliance-leicestercommercialbank.co.uk/content/SB020001.asp

benood

We use HSBC and have our surplus cash swept into a higer interest account each night - I think it earns about 4% so not exactly great but it is convenient, we don't pay any extra for that facility.

alchemistkevin

Check out Cater Allen, they're part of Santander and pay about 5% interest (or thereabouts)

claireanded

Thanks for the information! Am investigating the options!

benood - interesting that you should mention this - I have been a customer of HSBC for over 2 years and they have never mentioned this option!! I have been actually quite disappointed in their service (never even met my business manager....) and am planning on changing accounts to a different bank as soon as I can summon up the energy!

opinions4u

4.85% after base rate cut with a 2 year guarantee built in:

http://www.totalbusinessaccount.co.uk/