SB: Business Bank Accounts

yebaws

infox wrote:

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

Just had the same letter. £15 pm charge for Direct Business account with a balance below £5000 at any point during the month.

BOS used to be a good business bank, but ever since the merger with Halifax, charges have been creeping up and customer service has been plumbing new depths. This is the final straw - I've already closed my personal account and now I'm moving my business accounts to Abbey. There has not been a single benefit for BOS (and I would guess for Halifax) customers since the merger. They just seem to see it as an oppourtunty to sell more c**p products to more people. I went into a Halifax branch about a year ago that had posters all over the wall advertising BOS business accounts and they wouldn't let me pay in credit card vouchers to a BOS account *and* refused to send them to my branch via internal mail. You'd think that they didn't want any customers - or they think that we're all utter dunces.

HBOS is utter utter utter utter utter **** :mad: :mad: :mad: :mad: :mad:

get out now!

and use a personal account in my name (I'm a sole trader, "John Smith trading as XYZ") for all my payments.

you get 100 free cheques per month with abbey and unlimited bacs payments. I pay almost everything with bacs now and find I hardly need to use cheques at all. Depends on your business 'though I suppose

welshrich

Any advice for this forum would be most welcome:

http://forums.moneysavingexpert.com/showthread.html?t=298714

waspinagermanhelmet

Having recently set up as a freelancer and registering self employed I now have some cheques that need to be paid in to an account. I don't think I should pay them into my current account - need to keep separate to make tax returns and so on essier.
But - do I go for a Small Business Account..

or a deposit account...

or a current account for the business but a normal personal one rather than SB current account?

or what?

I need to pay myself a salary somehow too... and need to money to pay off the overdraft in my main current account...aargh!

speedtwin

I have my account with Lloyds which suits my needs and it is only 2 doors doors down from my buisness which is handy as i have topay alot of cash and cheques in. My problem is the interest rate is rubbish what Im after is another account that pays good interest that i link thro internet banking and i can keep about 50k in it and when i need it i will just tranfer online back to Lloyd.s which i beleive is free.

Any ideas anyone????

alm721

Hi there, we are just about to change to Abbey (Initally wanted to use A&L, but after requesting an application pack both online and over the phone and not recieving either have decided not to bother!) However, I've just thought, do theylet you take credit card payments without charge? I know DD/SO/BACS are free but chaps are not and Im not sure what chaps are? We use streamline to take the cc payments and currently bank with Yorkshire Bank (who are hopeless and expensive). If anyone could explain I'd be really grateful. I have read all the info from Abbey but still can't seem to figure it out so ifs there anyone out there who banks with Abbey and takes cc payments who could let us know if they charge or not tht would be great.
Also how do you go about changing the bank which recieves the CC payment. Do you just contacnt streamline or the new bank or the old bank or what?
Many Thnaks and sorry for all the questions.

yebaws

I've recently moved current accounts from BOS to Abbey, but still use BOS for merchant services (credit card payments) as I have a good low commision rate from them. Just needed to contact them (BOS merchant services) with my abbey account details and they now pay my credit card sales to my abbey account and take the commision from the account by DD. Not sure how the payments in are made - think it's by BACS - but I'm not charged by abbey for this.

I'm happy with abbey so far but their internet banking is down quite often for "maintenance" at night, which seems a bit unnecessary. Telephone centre helpful and easy to get hold of

sikanderjha

Every body is talking about all the banks other than Barclay's. I will be grateful if any one of you can give me some information on their service as I have an appointment with them next week for business account.

speedtwin

I`m with lloyds and wasnt happy with the service they gave so i looked into barclays i thought they were bloody expensive compared to lloyds.(i pay in 1 to 4k a day in checks and cash)

decided to stay with lloyds for now

jpe20

Just posting this up for my dad who is not on the 'tinternet yet!!!!

Just wondering who are offering the best medium term deals on bank charges for small business??? My dad runs a small retail outlet where he pays charges on banking cash/cheques along with charges made for using the credit card machine.

He backs with HSBC at the moment but he has been approached by Halifax who are offering a year of free business banking if he changes. He though does not want to change just to save for the year only to be ripped off in the subsequent years (medium term ... say 5-10yrs).

Alliance and Lecs. looks good but my dad has been put off by all the form filling for switching over the direct debits/bacs/card machine etc.

Any good comparison sites for business banking???

Any suggestions ... should he stay with HSBC???

Many thanks

Jools

yebaws

Abbey offer free business banking "for life" with some constratints on volume of transactions