Small Business Bank Accounts Discussion Area
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How long have you been running the business for, and has your credit rating improved? Would HSBC now offer you a business account, for example?Signature removed for peace of mind0
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So, sorry if I sound stupid or asking thats already been asked, what were peoples opinion on the best business bank account out there?0
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So, sorry if I sound stupid or asking thats already been asked, what were peoples opinion on the best business bank account out there?
Sorry, but it does.
You need to decide what you need from a bank account, and then work out who offers it, and then maybe search this board for that bank and see what recent feedback you get.
Because there might be generally rave reviews for eg the Savvy Savings Bank, so you get all excited about that, but then you find that they don't have a branch in your area, and one of your key needs is to be able to pay in and withdraw cash on a regular basis.Signature removed for peace of mind0 -
Hi there,
I would be grateful for a bit of advice please.
I am starting my own business shortly and am going to open the business account with Santander. I have my current account with them so get the 24 months free banking.
My only dilemma is I have an overdraft which has pretty much been there for the last year or so, do you think it will prejudice them accepting me for a business current account?
I have just cleared it online but am wondering whether it will be worth my while waiting for it to hit my personal current account before i apply for the business one?
Any help would be greatly appreciated.
Many thanks
warez22:oSmoke Free since 1 January 20130 -
Just a note about small business bank accounts. The website suggests using a personal bank account if you can, if you don't have complex banking needs. I tried this and most of them seem to hit a brick wall if you don't pay in a salary every month and admit you are using it for business needs. I am freelancer with no employees and very few expenses every month and a straightforward bank account is all I need. However after having tried 1st Direct, CoOp, Santander and Barclays they all say no when I tell them I am self employed. Could be worth making a note of this on the website.0
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So I've seen a few people asking this, but no replies, does anyone know of a bank that will offer a business account of some description (only needed to pay in cheques and cash, and also to help built credit rating) but that will provide this for someone who has a low personal credit score?£2012 in 2012 - £13810
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However after having tried 1st Direct, CoOp, Santander and Barclays they all say no when I tell them I am self employed. Could be worth making a note of this on the website.0
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Santander now charge for all their business bank accounts. HSBC ave me 18 months free banking.Estate Agent, Web Designer & All Round Geek!0
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Just a note about small business bank accounts. The website suggests using a personal bank account if you can, if you don't have complex banking needs. I tried this and most of them seem to hit a brick wall if you don't pay in a salary every month and admit you are using it for business needs. I am freelancer with no employees and very few expenses every month and a straightforward bank account is all I need. However after having tried 1st Direct, CoOp, Santander and Barclays they all say no when I tell them I am self employed. Could be worth making a note of this on the website.I just opened a personal bank account with Santander and stated on the application form that I was self employed. Opened straight away with a debit card, no problems at all.
It seems to me that wordbiz has alerted the banks to the fact that s/he wants to use a personal account for 'business' use. That's different, and without much 'history' they may not want to open a basic business account either.
It is a problem ...Signature removed for peace of mind0 -
I've just opted for coop - needs are relatively simple for me and I like the fact that it's ethical.
A small word of advice if you go the same way: don't bother filling out forms available online. Ring them and get the pre-completed forms sent to you. took 15 mins on the phone and was a LOT simpler than the 20-page printed version.
Thanks to all on this forum for their advice.0
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