SB: Business Bank Accounts

glenlynian

rprinter wrote: »

Golden rule according to me is use a different bank from your personal accounts.

I'd also like to say, out of the Big 4, FORGET LLOYDS TSB. Useless. I'd move to NatWest if I could, they still have proper, local, bank managers or so they say.

oh no they dont. I was given a great helping hand by a nat west bank manager 15 years ago and without him I would never have succeeded. Because of this I have stayed loyal to them ( more fool me!). I am now in the processess of leaving nat west as my, not so local, manager is not interested in me or my business. They have hiked up charges dramatically and say it is because of the "current climate" that they have to make these increases. All apologies and no help! Yet at least three other banks have offered me better deals (including free banking) than I oringally had with Nat West. They have done me a favour!

queen_of_leon

care to give out names of those banks pls glenlynian??


and in response to janewatts...i wouldn't go to lloydstsb for ANYTHING! been with them for 20 yrs and have now changed my current account, loan and (hopefully) cc.

i need to open a business account soon and would appreciate any feedback/warnings.

cheers guys

sabberiqbal

hi folks anyone know of a bad credit business account that takes bacs
all suggestions gratefully accepted

braken2000

I dunno myself.

But HSBC have just accepted me and my Credit is not good!

stphnstevey

***AAA-Inquirer*** wrote: »

Thanks for the Abbey v Cater Allen interest rates - that was useful to me.

When I went back to look at this, it appears ABBEY are the best account I can find. Cater Allen (although part of Abbey) have worse interest rates than Abbey (at first I didn't copare apples with apples and compared Abbey's Business Acc with Cater Allen's Reserve Acc. I have now seen Abbey also have a reserve account which beats Cater Allens Reserve Acc)

A+L only have free banking for 2yrs. I couldn't be bothered with the hassle of shifting after a couple of years.

With almost all normal transactions free or a generous allowance of free transactions per month, my conclusion is that this is the best SB Current Accountis ABBEY NATIONAL :T


Does anyone know of any refferal fees or cashback for opening one of these accounts?

yebaws

I've been happy with abbey and it hasn't cost me anything. One annoying thing is that their internet banking is offline EVERY night between 11 & 7. Can't understand that.

koru

If you have a reasonable sized balance (or very few transactions), you might want to look at the new Total Business Account from BOS:
http://www.totalbusinessaccount.co.uk/

Pays 5.38% AER for the first year. If you switch your business current account to them, they guarantee the rate will be no lower than Bank of England rate for next 2 years, then BOE minus 0.75% for another 2 years.

They do charge for transactions, but that's why I suggest this for businesses whose interest on balances is more important than transaction charges. (My charges are about £2 per month, so it really isn't the main factor in choosing my bank account.)

You can apparently make deposits via any Halifax branch.

braken2000

Anyone delt with Royal Bank of Scotland?

stphnstevey

koru wrote: »

If you have a reasonable sized balance (or very few transactions), you might want to look at the new Total Business Account from BOS:
http://www.totalbusinessaccount.co.uk/

Pays 5.38% AER for the first year. If you switch your business current account to them, they guarantee the rate will be no lower than Bank of England rate for next 2 years, then BOE minus 0.75% for another 2 years.

They do charge for transactions, but that's why I suggest this for businesses whose interest on balances is more important than transaction charges. (My charges are about £2 per month, so it really isn't the main factor in choosing my bank account.)

You can apparently make deposits via any Halifax branch.

Abbey Reserve Account 3.75% for smallish amounts. Trasactions vertially free.

You might be better off for a year at least depending on how much left in account on average and how many transactions you need to make. Transactions generally 30p each.

But would you want to be switching accounts constantly?
Also, I just can't get over banks charging a business for transactions!

mcgregor944

Hi - i`m thinging about openineg small business and i`m wondering what current account will be best for me.

If you have any experiance at this field help will be much appreciated.

Cheers Greg