Business Current Account

talulahbeige_2

Hi

I'm looking at opening a CA for my limited company as a contractor and need a litlle help and advise to find one that doesnt do a monthly fee (post the 18mth free period that most seem to offer)
The amount of withdrawals / credits each month will be minimal (circa 5) and I want to pay the lowest charges possible.
Can anyone make any reccommendations please?

Thanks

Pennywise

Cater Allen (https://www.caterallen.co.uk) do a basic account, called their business reserve account, which is ideal for an IT contractor type of company. Unfortunately, if you go direct, there's a minimum balance requirement and monthly charges. However, many accountants are introducers for them and many of those will have negotiated a special deal for their clients. Such as no minimum balance and no monthly charges. A few even give up their commission so that their 0.25% is added to the account as interest instead. Why not ask your accountant if they're a Cater Allen introducer - many IT contractor specialist accountants will be.

paddyrg

Reviews are mixed...

http://www.reviewcentre.com/reviews68137.html

But don't worry too much about a fiver a month account fees, we're talking £60/yr, probably less than you spend on printer ink. It is worth it for decent high-street service in my opinion. LloydsTSB have been pretty decent for me.

Pennywise

paddyrg wrote: »

Reviews are mixed...

http://www.reviewcentre.com/reviews68137.html

But don't worry too much about a fiver a month account fees, we're talking £60/yr, probably less than you spend on printer ink. It is worth it for decent high-street service in my opinion. LloydsTSB have been pretty decent for me.

May look like a low score for Cater Allen, but they score higher than any of the High Street banks. Lloyds only get 1.1 out of 5! CA are one of the best out of a bad lot.

phill99

Business to busines banking in this country is a con. I've researched this for my own business account and have settled on Santander. Its a postal account only so has no branch facilites and you can pay in cas and cheques at standard Santander Cash Machines or can send cheques in by post (with free prepaid envelpes).

The important thing is that it is permanently free unlike all of the high st banks, who are free for only a short period.

They also offer other business banking services like overdrafts, loans, business mortgages etc, but its done over the phone.

For small businesses that need a basic service, I would happily recommend them.

goldndelicious

rbs do a free one, i just signed up for my ltd co the other day. it will be transfering over to santander in the takeover though

Wywth

Have you considered the HSBC Business Direct account?