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Closing my business account that has overdraft

Hello

I hope someone can help me. I have a business account with HSBC and its has £4000 overdraft. I used to need this but dont now. it still has £4000 overdrawn though so i need to get this repaid and will be discussing this with the bank this weekend hopefuly!

I own a small business and i dont accept cheques only cash or online payments.

Do i have to have a business account or can i open another simple account with NO or less charges? Can anyone point me in the right direction please

Many thanks

Comments

  • Rafter
    Rafter Posts: 3,850 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I think abbey (santander) have a fee free business account at the moment - whether that would allow you an overdraft I don't know.

    Good luck

    R.
    Smile :), it makes people wonder what you have been up to.
  • Thank you for your advice. I dont want to have a overdraft as keeps me from using it if not available

    thanks
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