SB: Business Bank Accounts

Bean_Counter

yebaws wrote: »

I you're lucky enough to have a branch anywhere near you!!! I don't think I've ever seen a Yorkshire or Allied Irish Bank.

Just passing on the info I come across. Plenty of Clydesdales up here!

Depending on your business needs, perhaps their electronically available products might suffice. Alternatively, perhaps they might have reciprocal counter banking arrangements with someone else.

Anyway, one of the things to come out of the report was that some of the 'second string' banks offer better services and facilities than the big boys.

yebaws

Bean_Counter wrote: »

Anyway, one of the things to come out of the report was that some of the 'second string' banks offer better services and facilities than the big boys.

absolutely - as was the case with Bank of Scotland before Halifax got hold of it...

MagicBurd29

Bean_Counter wrote: »

I've just been on the website for the Forum of Private Business, who represent mainly SMEs.

...

I believe a copy of the full report is also available to non-members on the FPB website at:

http://www.fpb.org/page/249

If you pay £1,500.00 !!

MagicBurd29

yebaws wrote: »

absolutely - as was the case with Bank of Scotland before Halifax got hold of it...

Couldn't agree more. I've closed my (H)BofS business account - managing with a temporary separate personal account for now - after incompetence on their part, capped by the introduction of a monthly fee.

Plus, (H)BofS have made a string of major errors with my mother's money - I have Power of Attorney - including losing the entire proceeds of the sale of her property, for a week.

I tried an A&L business account but gave up almost immediately - much harder work than I'd anticipated. Also tried Abbey and don't want to try again.

Somewhat regreting giving up my Coop business account some years ago. Worked quite well alongside smile for personal accounts.

RBS appear to have a free business bank account. What I've read so far seems attractive - you can manage personal and business accounts together online, and they have a no-fee credit card too. Anyone any recent experience?

I am based in Edinburgh and have perhaps 2-4 transactions per month.

Bean_Counter

earwig1928 wrote: »

If you pay £1,500.00 !!

Sorry about that, my link had something different at the time.

Anyway, didn't miss much apart from the results.

My membership is only £75 including the HR and H&S elements.

bargainhunt_3

In response to comments Abbey I have been with them for about two years and the service is very basic. If all you require are electronic transactions and the occasional cheque deposit or withdrawl then they are ok. However for anything more complex it is next to impossible to get anything from them, this includes forms to add new users to the account! I tried over a period of several months to get somewhere and ended up giving up. That said if needs are basic and you are not wanting to spend any money on banking then it is a good way to save cash.

koru

Standard Life Bank is paying 5.6% on its Business Bonus account until the end of November. Not a bad deal if you have some spare business cash to park for the next 6 months.

It is an instant access account, which you manage on the internet or phone. Minimum balance £1000, Max £10 million!

uk.standardlifebank.com/content/savings/business/businessbonus.html?source=SIhero

gryphon

I’ve been with the Abbey for nearly 2 years now and if all you want is a money in, money out type of account it is fine

disk1982

i have been trying to souce the best chip and pin providor.. and when speakign to barcleys on the phone they say they could infact hold my money for 30days before releicing it.

can anyone reccomend one?

remrats

:eek: I recently dissolved my company via Companies House.
On the date it was dissolved, my bank account was seized by the Treasury on behalf of the Crown. The treasury solicitors advise me that it will cost £150 to get my money back and £600 if I want to reinstate the company.
This is posted as a warning to other small businesses and also to ask the question "Is this as illegal as Bank charges?"