Small Business Bank Accounts Discussion Area

TheTracker

Sorry, not tried ICICI.

There is no limit to how many times you can switch. Switch every year or two and as long as there are free banking incentives to do so it will be "forever".

chiefnoodle

no-one seems to know about ICICI...

just spoke to their business accounts manager and he tells me that they're mainly geared towards businesses who import/export and aren't really interested in UK-contained businesses.

It sounded that if a large amount of money would be in the linked savings account then that would also be an option.

Bit strange that their website doesn't mention any of this...

Hope this helps anyone else who may have been wondering about this!

edgibs

Hi I am looking for a business bank account.

I will be depositing up to 80k in coins and notes per month. Anyone have any ideas on the best bank for this?

Looking online most have a cash deposit limit per month or charges of up to £1 per £100 deposited.

I've met with santander already and HSBC next week, but can anyone suggest from experience any banks who actually like cash....

footsoldier48

i have a small business with a business bank account,can i change to a personal account to save on charges and what bank would anybody suggest.

also have a limited business and am looking for the best account for this and maybe be able to earn some interest on money in account.

thanks

polymaff

footsoldier48 wrote: »

i have a small business with a business bank account,can i change to a personal account to save on charges and what bank would anybody suggest.

also have a limited business and am looking for the best account for this and maybe be able to earn some interest on money in account.

thanks

I doubt that you'll find any bank that will condone the use of a personal account by either a sole trader or a limited company. That said, providing you use it discreetly, you may get away with it - but you'll have a problem persuading customers of the limited company MegaCorp Ltd to make payments to Tommy Atkins

Robin9

edgibs wrote: »

Hi I am looking for a business bank account.

I will be depositing up to 80k in coins and notes per month. Anyone have any ideas on the best bank for this?

Looking online most have a cash deposit limit per month or charges of up to £1 per £100 deposited.

I've met with santander already and HSBC next week, but can anyone suggest from experience any banks who actually like cash....

Is this a brand new business - 80k is a awful lot of cash - you should encourage your customers to pay by online to minimise charges; credit may also be cheaper

jonesMUFCforever

For that kind of turnover you will need to discuss this with a bank business manager.
It could be that it would it be cheaper for you to get a security firm to do the banking for you - there will be no workaround for this amount of cash.
Nobody on here can give accurate advice on this.

inbuilt

I am starting my own business. I am looking to open a new standard current account to use as my business account which one is best? I already have my personal current account with First Direct, which I am also looking to switch as I can get cashback if I do. Which ones should I change too. I also would like to have an easy banking online/ app experience which I currently have with FIrst Direct?

First Direct also aren't offering a Help to Buy ISA which I also would like to open.

Please help? Any advice would be much appreciated.

Do any new accounts offer free cash? (i.e. without using the switching service)

someone

I like to look of the ICICI account. The only down side I can see is Faster Payments out clear the next day but I find this rather acceptable. The faculty to have a USD account in the future might be useful too.

Futuristic

someone wrote: »

I like to look of the ICICI account. The only down side I can see is Faster Payments out clear the next day but I find this rather acceptable. The faculty to have a USD account in the future might be useful too.

Assuming its FP it may well be cleared same day depending on their own cut off times. Anyways seems like a good account + 1.50% instant access savings account.

Anyone here using them? How is their online banking?