Recommended cheap business accounts?

whobiggs

0o0 wrote: »

Thanks for the input guys. I ended up going with HSBC as suggested above and their Business Direct account looks perfect for me. No monthly charges (great!), transaction charges only applicable if you go over the monthly limit ]

HSBC only does free banking for 18 months, same as most others. Are there any that don't charge? Are there any reasons against or problems using an ordinary private account?

lolavix

Another old post


whobiggs - Natwest offers 2 years free, and if you mainly use faster payments etc then the minimum charge after that is only £3.75 a month.

As far as I'm aware, Santander offer free business banking, but their customer service leaves a lot to be desired.

If you were to use a personal account, you would be breaking the terms and conditions and the bank would be entitled to give you notice to close your account.

samwsmith1

whobiggs wrote: »

0o0 wrote: »

Thanks for the input guys. I ended up going with HSBC as suggested above and their Business Direct account looks perfect for me. No monthly charges (great!), transaction charges only applicable if you go over the monthly limit

HSBC only does free banking for 18 months, same as most others. Are there any that don't charge? Are there any reasons against or problems using an ordinary private account?

Free banking continues on the HSBC Business Direct Account after the free period provided you stay within the value limits.
https://www.business.hsbc.co.uk/1/2/business-banking/business-bank-accounts/business-direct-account
Charges:
https://www.business.hsbc.co.uk/1/2/business-banking/business-bank-accounts/business-direct-account/rates-and-charges

aag

Hi All,

I don't think anybody offers free business banking anymore. My HSBC Business Direct 18 month free period will run out soon. I am planning to shift to the Co-Op Business Direct Plus account now.

All the same services but a monthly fee of £3 only. I think thats the cheapest on the market plus they got rid of their funny chairman.

I can seriously consider giving them my business now.

Regards,
Aag

gt94sss2

aag wrote: »

I don't think anybody offers free business banking anymore. My HSBC Business Direct 18 month free period will run out soon. I am planning to shift to the Co-Op Business Direct Plus account now.

All the same services but a monthly fee of £3 only. I think thats the cheapest on the market plus they got rid of their funny chairman.

I haven't used it but you may want to consider the Direct Business Banking account from Natwest.

Regards
Sunil

anna42hmr

TSB and Lloyds do a 6 month free business banking for switching for existing companies (18 months for start up of new companies) so you may want to look at those, it will at least get you a bit longer free

pmduk

This is a 2 year old thread