business banking !

DesG

Both Abbey and HSBC do fee free business banking accounts without a limited timeframe, A&L do also but have a minimum deposit per month criteria.

Cheers, Des.

COOLTRIKERCHICK

first of all, there is no rule to say that if you run a business that you got to have a business bank account, but in the long run it is best so you can keep track etc.

i am with lloyds and have had 18 months free banking, as this is has now run out and i have to pay the fees:o i have now signed up with barclays, which have offered me 9 months free banking for switching:money:

and even after the 9 months free banking it will work out cheaper than lloyds.

any on-line transaction is free so for you it might be a good option, its £5.50 per month after the free banking ends, so if you are transfering paypal money into a barclays business account and then using a debit card to withdraw at a cashpoint there is no charge.

here is a link to their frees.

http://www.business.barclays.co.uk/BBB/A/Content/Files/P59204_Barclays_tarriffs.pdf

i choose these two banks are they are with a few miles of my business, so its east to get to a branch, and actually talk to someone if i need to.



edit.... i use the same principle as credit card tarting, when the free banking is up and they want to charge me, just hop over to another bank, for free banking

henm2

HSBC offer all new small businesses (less than £1 million turnover) and also existing small businesses switching to them free banking for 18 months. After that free banking period is finished small businesses can still benefit from free banking under the bank's 'business direct' tariff which is suitable for businesses who do most of their banking online, do very little cash transactions over a branch counter,:j and pay in or write out less than 20 cheques a month.

gt94sss2

usearchme wrote: »

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

My father uses this account from HSBC which also sounds ideal for you as you do most of your banking online so will encounter no charges.

Regards
Sunil

usearchme

I know all this i know how to use google and view all those, the reason i posted was to see if anyone had any different advice that i might not find after 5 mins with google.

As i had been looking at offshore banking ideas like that ? Im quite suprised about the lack of options there is out there really, I can understand the banks charging for these accounts.

Usme

DesG

You have three options as I listed above. Or if you can maintain a balance over £5000 there is a 4th option.

A&L charge if you don't deposit £1000/month
Abbey, well as your research indicates, they don't have a great reputation.

Which leaves HSBC Business Direct who don't charge, this is your best option unless you have a need for cash handling.
http://www.hsbc.co.uk/1/2/business/accounts/business-direct


Cheers, Des.