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Bank acc for small biz start-up
debs3693
Posts: 24 Forumite
Hi, i'm thinking of opening a business account with the Co-op and joining the Federation of Small Businesses. I wondered if anyone had any experience of being a small biz owner with them and if so, any words of wisdom?!
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Comments
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You need to work out what amount of transactions you are going to be doing, are they mainly counter services or electronic etc. Unless you want the pain of switching banks every year then you are most likely going to end up paying fees so unless you want to be with the Co-op etc for ethical reasons its worth checking which bank's fees will be lowest for your business.
Personally I use HSBC for my business because I have low quantity of transactions and almost all are electronic so their no standing fee "Direct Business" account is by far the best for me.0 -
Hi thanks for that - a good point! I think the majority of my transactions will be electronic so i will definitely have a look at that. Many thanks.0
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