Being able to ask customers to make cheques payable to "my biz name"

CKhalvashi

WLM21 wrote: »

I think most banks will give up to one year without charges, as long as you stay in credit.

Santander used to offer a 'free for life" business account. The only snag is that you have to do all your banking through the 'hole in the wall' with cheque payments that shouldn't be a problem. Probably worth making a call to them.

Todd luck in your venture

HSBC were doing 18 months at most recent incorporation (about 3 weeks ago)

I used to have 'CK t/a TMC.eu' (abbreviated) before we went Ltd.

CK

paddyrg

Lloyds, co-op, HSBC, NatWest, Barclays - they all do business banking and as I recall all offer a free intro period and all charge more or less the same outside of that. So much of a muchness that by all means check them out, but convenience is worth weighing up against if one charges 65p for a cheque and another just 55p...

But do ask about the different business tariffs - LLTSB have a normal and an electronic tariff, on the electronic one you pay something like 65p for a cheque over a certain number, but all standard electronic transactions are free (cashpoint, DD, standing order, faster payments, etc) and may suit you more. But we are talking just a couple of quid difference to most users anyway.

Daz2009

I don't know if they're taking on new customers (probably not ) but RBOS did/do a free business account where you don't actually use a branch,all transactions are by post or internet.
When you sign up they just ask for the name of the business and your cheque books have this name on and customers put this name on cheques they pay to you.
I've been using it for years

PrincessPlaty

I have mine with HSBC first year with no fee, and as long as I am not paying in cash there will never be any fees as long as i am in credit. I am not a LTD company and my cards, cheque book etc read PrincessPlaty t/a RBK.

My local branch themselves told me if i needed to pay cash in to pay into my personal account and then just get them to transfer over and there would be no fees incurred.

HSBC have been absolutely fantastic can't fault them in the slightest!

bikerchris

PrincessPlaty, Daz2009, paddyrg, CKhalvashi, Savvy_Sue & phill99 - You've all been incredibly helpful and I'm so grateful, I even 'thanks' each of you individually. Really is kind of you all, thanks!

InsideInsurance

HSBC do a "direct" account which is fee free "for life" (though technically without that promise) as long as your volume of over the counter transactions are very small. If you do exceed the limit then a per transaction fee is applied and it is considerably higher than a traditional business account.

My company gets paid electronically 99% of the time, I transfer money to my suppliers etc using debit card or BACS etc and so 5 years or so of having the account I've not paid a single fee.

You can add a trading style and thus accept cheques made out to the style rather than you

bikerchris

Thanks for that InsideInsurance, although that sounds great, I don't get paid the same way you do. With that account, I would get charged for cheques IN when I exceed 5 in a month. I can receive up to that in a week sometimes...and sods law non in the following week! I don't want to be calculating what month I pay cheques in. But thank you all the same, much appreciated, especially about the 'style' part

bikerchris

Just wanted to follow this up, I did open a Santander account in the end, very easy to do. The only downsides so far:

- You can't pay your money in at the counter, only by post or using the paying in machine within the bank. This adds an extra day to cheques/money clearing.

- You must pay at least £50 in per month.