How long to open a business account? (esp Co-op)

InsideInsurance

If you think it is bad opening an account for a business as a sole trader try and do it for a Ltd and then you will know what painful can be (though again HSBC were no problems).

Ended up having 4 appointments with the Barclays business manager to try and open an account. First one they said what extra docs they needed, second one they rejected the letter from the accountant as it was addressed to "to whom it may concern" rather than "To Barclays", third time they rejected the share certificates as they didn't like the wording on them and so gave me a copy of their share certificate template. Forth meeting they rejected the share certificates again because of the wording even though it was their own template!! There wasnt a fifth meeting!

HSBC I had problem getting an appointment but once that was sorted turned up, signed the paperwork, needed no letters from accountants or share certificates and so walked out with my online banking security token and debt card arrived a week or so later.

steve1980

I've just opened a new business account with HSBC and it wa sorted out within 20 minutes. They are taking care of everything to do with my previous bank (Barclays) in closing and transferring everything and the documents all arrived within 3 days.

Crocswearer

steve1980 wrote: »

And that doesn't ring alarm bells?

Enjoy the unsecure non encryption of their computer systems!

You missed the point! I ditched Co-op in favour of HSBC. They sent me the card etc about 4 weeks after I cancelled the application. LOUD alarm bells!

Crocswearer

steve1980 wrote: »

I've just opened a new business account with HSBC and it wa sorted out within 20 minutes. They are taking care of everything to do with my previous bank (Barclays) in closing and transferring everything and the documents all arrived within 3 days.

Yes me too. The process with HSBC was quick and hassle-free.