Free Business A/cs ?

myright

Are there any FREE business accounts available. I will probably deposit less than £100 a month. maybe withdraw once a month.


I dont need any overdraft limit, loan etc. Just require something busy to take in a small amount of money for a cleaning company

JuicyJesus

If you're depositing cash you're unlikely to get totally free banking anywhere, although most banks do introductory offers of between a year and two year's free transactional banking if you're a new startup.

Even after then it's unlikely to be of much concern. If you deposit £100 cash at most banks though you'll probably get charged about 60p, which in the scheme of things is a pittance.

One option that could be of interest, if you're getting paid by BACS or with cheques, is the HSBC Business Direct account tariff, which charges no fees on small amounts of cheques each month, no fees on most other transactions and has no monthly account fee, with the rub being branch cash in and out transactions are far more expensive.

myright

Thanks, that's exactly what I was looking for!!

Lastly will I need to pay to make a business name? or can I just make one up and give it to the bank?

JuicyJesus

myright wrote: »

Thanks, that's exactly what I was looking for!!

Lastly will I need to pay to make a business name? or can I just make one up and give it to the bank?

This is more complex. If you are just a sole trader, you can make up virtually any trading name you like within reason (you can't be Marks and Spencer or whatever). If you wish to form a limited company, there are rules about what names you can choose and it will cost you money.