business banking !

usearchme

Hi guys

Hope you can help as ive been googling all day and keep coming to the same website over and over, I am trying to find a simple business bank account for some online transactions.

Ive tryed alliance and leicester and that was a complete disaster, ive been lookinat other offshore banking but really dont know much about this.

Anyone any tips reguarding this, as there doesnt seem to be much choice out there, makes me wonder if im doing something wrong lol ?

Usme:p

willo65

Your not very specific in your post but if your only requirement is to do online banking then:

http://www.natwest.com/business.ashx

rb10

Have you asked any of the big banks what they can offer you? Just go in and ask at Natwest, Halifax, HSBC, etc.

easy

Well any of the banks will offer you business banking, I'm assuming you are looking to keep costs down?

Why was Alliance & Leicester such a disaster? What went wrong? One of my clients uses them, and their free business banking seems okay, except it can take 5 days for transactions to clear (which is how come it's free banking). You just have to account for that, and handle cash flow accordingly.

Tell us exactly what services you require.

usearchme

Thats right i just want a free account where i can just handle a few transactions each month, it seems most of the accounts are geared towards large companies.

I dont need a bank book or a cheque book, I just want to use it for online transactions. As i take most of my payments via playal etc. Im not too bothered about the lenght transactions take to clear either so long as its a reasonable amount of time.

I dont want to pay anything per month which is what a lot of them ask for, alliance and leicester didnt tell me i had to pay for each month (probs my fault as well for not reading the terms properly you have to have £1000 per month coming in or they charge u) i didnt put anything in the bank account and then when i went overdrawn they charged me, so I canceled that !

I have rang a few banks but none of them are willing to give me this kind of service for free, only abbey do this, but ive checked the reviews out of their service and the reviews are not very good at all.

Usme

easy

usearchme wrote: »

I have rang a few banks but none of them are willing to give me this kind of service for free, only abbey do this, but ive checked the reviews out of their service and the reviews are not very good at all.

Usme

Banks are in business to make money (believe it or not). Of course they won't offer free banking if they don't have any deposits, they use your deposits to generate interest, which is how they fund your free banking.

Barclays offer me business banking for £5.50 per month, all online transactions free for that fee. Seems reasonable to me.

easy

Oh, some will give you free banking for 1 year. Try HSBC

usearchme

lol i know ive seen those offers, thats why i am asking on here, to see if anyone else has any other ideas ?

As i said prevously i wont be using this account much, so whats the point in paying for it ?

Thanks to everyone for replying anyhow !

Usme

easy

If you are not operating a limited company, you MIGHT get away with opening an ordinary personal account, and using that for your business transactions.

As a sole trader there is no legal requirement to have a business account, but the bank may get a bit narked IF they discovered you were using it solely for business, not personal banking. That said, they don't examine tyransactions, so they would probably never know.

willo65

usearchme, Natwest do either 1 or 2 years free can't remember what the current deal is but after that you pay depending on the transaction and as far as i'm aware their isn't a monthly fee. However i'm not 100% sure it might be worth checking out.

jennyo

willo65 wrote: »

usearchme, Natwest do either 1 or 2 years free can't remember what the current deal is but after that you pay depending on the transaction and as far as i'm aware their isn't a monthly fee. However i'm not 100% sure it might be worth checking out.

I have a business account with Natwest and do pay a monthly fee, £6, You also pay for each transaction coming in or out of your account, I got it free for the first year, but that was about 10 years ago.