SB: Business Bank Accounts

yebaws

robert_harper_2000 wrote: »

£15k OVERDRAFT
27 x Cheques in
£58K Cash Credit
59 x Credit card payments in
73 x Bacs payments out
24 x Standing Orders
10 x Direct Debits
oh and quite abit of change - region of £700 per week. ...

Currently paying £900 per quarter which seems a lot. I'm an FSB member so have thought about the CO-OP but they are just closing down so don't think they will be local in a few months...
Suggestions? Is £900 per quarter a lot?

Seems a lot to me, assuming that that £900 doesn't comprise a lot of overdraft interest. You'd have to pay some charges with Abbey's "free" account given the amount of cash you have going in and out, but I reckon that all of your other transaction levels are within their limits for free banking.

http://www.anbusiness.com/

robert_harper_2000

Doesn't comprise of interest at all! Plus another £10.50 quarterly charge + another £150 pa for the overdraft.
Of course the interest is nothing!

barginboyrob

I was wondering if any banks just charge you for the transactions or do all of them charge a monthly rate..

I saw some were free, but for say 10 months. Can you easliy change to a different business bank when free time is over?

robert_harper_2000

I think previously all accounts for businesses were monthly but the Banks preferred itemised and so move ppl on to these.

Kilty_2

Yeah, they're now itemised AND monthly

47biggles

NatWest business account charges on my account have been increased in stages between Jan 07 and Sept 07 by just under 300%. Apparently I'm not a special case.
Perhaps it's in preparation for an anticipated court rejection of their personal account charges scam.

47biggles

NatWest business account charges on my account have been increased in stages between Jan 07 and Sept 07 by just under 300%. Apparently I'm not a special case.
Perhaps it's in preparation for an anticipated court rejection of their personal account charges scam.

trills

Our local Enterprise Trust recommended the Abbey free banking to us and combined with the information given here I think we'll be going with that and a NOCHEX account. We're an online business and mainly recieving debit and credit card payments, so I think that system will suit us well for our start up.

As a side note: Am I the only one that's noticed that quite a few of the banks that offer to call back when you specify seem to just... well, not? Fibbers. You'd think they didn't want your business.

Oh, or call you back to place you on hold for 10+ minutes! Better than paying through the nose after calling the number yourself, I guess, but still annoying.

yebaws

trills wrote: »

Our local Enterprise Trust recommended the Abbey free banking to us and combined with the information given here I think we'll be going with that and a NOCHEX account. We're an online business and mainly recieving debit and credit card payments, so I think that system will suit us well for our start up.

As a side note: Am I the only one that's noticed that quite a few of the banks that offer to call back when you specify seem to just... well, not? Fibbers. You'd think they didn't want your business.

Oh, or call you back to place you on hold for 10+ minutes! Better than paying through the nose after calling the number yourself, I guess, but still annoying.

best policy is to avoid contact with humans at all costs when it comes to banking - they are incompetent and it takes forever to get hold of them.

katskorner

I am about to start in business by buying a franchise and I need a business account - well I think I should have one anyway. Are there any decent free banking deals out there at the moment? I do have a friend who is a pt bank manager at Lloyds so I am going to have a work with her too. Any advice is appreciated.