SB: Business Bank Accounts

challenger_2

I have an Abbey account for 18 months now and cannot fault them. I have postal/on-line account (no counter service) but the customer service is brilliant and the only bank I know who do not charge for cancelling lost cheques.

buglawton

Savvy_Sue wrote:

I believe it's more and more difficult to pay cheques into an account which doesn't have the same name as written on the cheque.

A&L commercial accounts allow cheques to be made out to both the co. name and the nominated account holders. In our case, 3 IDs.

TeePrinter

I am in the process of moving over to Abbey. Previously I had a personal account with Halifax so it seemed easier to open a Business account with the same company. Therefore, they set me up with Bank of Scotland business account. It was horrible getting started as the staff at Halifax seemed to me pretty dim and rude.

The telephone side of the business was slightly better. The worst thing about BOS are their charges. What a rip off! Firstly their fee for a Credit Card went up and then their charges for cheques went up to 57p!! I could see a pattern here so have decided to move to Abbey. I only do about 20 cheques a month but thats still too much. Think about it, imagine taking 57p out your pocket and putting it in the envelope each time you had to post one. That's in effect what i was doing.

I know someone here said that they only charge you for cheques if you go below 5k. Well my monthly bills are 5k so I would have to leave at least 10k in the account and cause their interest rate is so bad I would still in effect be paying more. Cunning people.

Now I use one of those cash back credit cards (thanks to this website) for my Business bank. It's a personal card (not a business card) but I can't see what difference it makes, so now i should be actually making this money instead of losing it.

Please God i have no problems with Abbey :-)

LynMc

TallHall wrote:

I'm trying to find out some views of the Banks to help me decide which to talk to when starting up a new small business. From your experiences which is the best or worst ?

After checking round a few options have found the A & L Commercial Bank really good - internet and phone access to info. Quick set up and good rates.

Danni19

I have been with A&L for 2 years now and can't really find much fault. They even extended our free business banking once it came to an end. I haven't paid a penny for it yet.

Paying in at the post office is much more convienient as there are many more of them that usual branches!

Only fault I have found (which is fairly minor) is that they take ages to post the paying in envelopes to you when you ask for more, and post office staff don't really like it when you try to pay in cheques without one (but it can be done if they write A&L's details on the front of a plain envelope).

Hope that helps!

vithya

I do get 15-30 cheques month and some cash (max £1000).
I would like a bank with no charges and branch service (is there any?).

Which account should i open?

bylromarha

Hi all

Am looking into opening a business account. i envisage needing it to pay in about 10 cheques a month, to write 40-50 cheques a month and to pay in cash.

will also need a credit card facility.

I appreciate i need to do the trawling of the small print myself, but if you could point me in the direction of a few companies to start with...or any comparison sites?...I'd be grateful

Thanks all.

fhayden

Bank of Scotland have just told me they will charge £15 pm flat rate if the balance dips below £3000. Time to move!

fhayden

Looks like Alliance and Leicester - support your local village Post Office!

infox

fhayden wrote:

Bank of Scotland have just told me they will charge £15 pm flat rate if the balance dips below £3000. Time to move!

Ten days later, I get the same letter, except £15pm if below *£5000*.

This on top of telling me that they're going to take interest from my account next month - but while I can't see why, and their teletubby couldn't see why either, they *won't* discuss the matter with me until they've taken the money from my account.

*gasp* *splutter*

I'm bitterly regretting moving from Abbey a year ago; I'm going to set up an Abbey account for receiving cheques and direct credits, and use a personal account in my name (I'm a sole trader, "John Smith trading as XYZ") for all my payments.

grump grump grump