HSBC increasing charges, suggestions for an alternative?

supermonkey

darrinm81 wrote: »

The RBS website isn't great however if you navigate to the Current Accounts landing page ("Business > Start-ups > Accounts > Current accounts") there is an "apply online" button.

Note that this "apply online" button does not appear on specific product pages. When applying online you need to select the Direct product in the form.

Unsure if this link will work (see right menu):
http://www.business.rbs.co.uk/afb/public/rbs/!ut/p/c5/fZLbcqowFIafxQewJJy9RA7KIRES5HTTQW1BzhUtytNvOrs3du-SXGQm__xrrXx_mISZdpN-nrP0em6btGIiJhFfVwGFwFR5IG82MjBd0ST06wqASY_FV_DLUsCTexdwIjBXOyoQUWSpzjEhEwH-lRZDx61a4FL97kLvajt7_no8jhaI5d6mHYbeyTYoabpbvq27LA3TNN2sz7Glxkmnxs2myupa6Ksuycou_6jqqk9rO2oF-LG3B1Mh7AAlZbH4O-3MPE_T7qEETAEqa7TxOaBK824gPZPaSsakOpRgCXHODvx0_1N9nnP4lcx89y99Lok5vw_n9YkN3rb1GxMzifTrK6jI-N-JPjpzLEdSjB5EoATY9wakTyfoLOQbJirvyD9g1PsKRPoVo_FkgX4FA8PTFZNPUeUtGItJzof6ZTjWL-AFCBCwosSLMs_zgOUFJiTHu6O1aNAU3-slbZiqXZoPAjLh4XVlUbarnPBuWukh5GDXJyKoXEcwZGUg_SVmL2qKsRIpbsj6SoRN9Wap3haXazb3DXLauO-3x1niNYDtNg6qI3sbc0mRCwoD8tYu3dGAaNsXh8DeLodrQsbT2GR3KV8uT6eo6n0hMAXE3RqsyejgwYvWZdMXfAb4M2j4H4B3fLAQ9vUJYIVQmWO_oIOvxRwF7Z3uB0iLkMPa2gHHb4C75Cy8Dwumq_eftu2IRH_XovEt_QPok7va/dl3/d3/L2dBISEvZ0FBIS9nQSEh/

I've gone through this link to apply, but it doesn't allow you to select the Business Banking Direct account?!

Savvy_Sue

Wywth wrote: »

Sorry, what do you mean by 'accept dormant accounts' ? :huh:

If your account is dormant, I'm not sure any charges will be applied, but if they are, just close the account - you obviously don't need it any more

I wonder if skinz means 'account for a dormant company'? you know, you set up a co. before you need it and make it dormant to avoid having to file every year?

But I'm guessing ...

Wywth

Savvy_Sue wrote: »

I wonder if skinz means 'account for a dormant company'? you know, you set up a co. before you need it and make it dormant to avoid having to file every year?

But I'm guessing ...

Perhaps? But again, I see no requirement for a bank account when there is nothing going in or out of the business.

I wouldn't expect any bank to accept new current account customers that have no intention of using the account.

zcacmxi

Has anybody closed their HSBC business account yet?
What's the simplest way? Branch, phone or post?

I'm thinking of leaving a zero balance, and sending a letter off. But I can see that ending in them not closing the account in time for 1st Sept (3 weeks time), and taking the £5.50 charge, then charging even more for unauthorised overdraft, etc, etc, etc..

Do they close in branch? Or is letter and recorded delivery safest option?

spenderdave

Closed mine this week, having transferred all the money out. Short letter to manager, taken personally to bank and closed on the spot, no questions. Personally I am using this as an 'opportunity' to close my business as I reach pension age in May, although in practice I will be carrying on till then at on a very part time basis.

Note that the new rates come in at the time of your next statement after September 1st and presumably the first charge will appear on the October statement.

mf78

I've decided to stay with them. The other local banks (I need a local branch to pay in cash and cheques, I don't want to be posting it off) all charge more or have other negatives to them. I'm not happy about it but don't have a better alternative at the moment.

Wywth

zcacmxi wrote: »

Has anybody closed their HSBC business account yet?
What's the simplest way? Branch, phone or post?

I'm thinking of leaving a zero balance, and sending a letter off. But I can see that ending in them not closing the account in time for 1st Sept (3 weeks time), and taking the £5.50 charge, then charging even more for unauthorised overdraft, etc, etc, etc..

Do they close in branch? Or is letter and recorded delivery safest option?

Closure requested. Letter written. Didn't bother with recorded.
Letter sent to Coventry as per their letter dated June 2013.

(If I don't get confirmation of closure before end of month, I'll re-send recorded, or call them, or visit local branch - all of which are acceptable according to their letter.)

skinz

Company was trading then we stopped trading while we had some issues. So @ companies house it is dormant however I still have an business account with a small amount in it. But as we are not trading there is no income or outgoings, however we are still planning and starting trading again, its just a matter of when, therefore I still would like to keep the account

Wywth

skinz wrote: »

Company was trading then we stopped trading while we had some issues. So @ companies house it is dormant however I still have an business account with a small amount in it. But as we are not trading there is no income or outgoings, however we are still planning and starting trading again, its just a matter of when, therefore I still would like to keep the account

When you plan to start trading again, take an updated business plan to any bank, and if they think it's viable, I'm sure they will provide you a business bank account.

But whilst you are not trading, I doubt any bank would be interested in spending their money providing you banking facilities, cheque book, paying in book, internet access, even possibly a debit card that you are not going to be using.

(Or just keep the account you've currently got)

Any bank will want to understand your business. The Cater Allen application form asks (amongst other questions)

Who do you provide services to, or do business with (e.g. general public, UK companies, overseas companies etc)?

and

Anticipated overall business turnover

and

Anticipated activity through this account

skinz

Wywth wrote: »

(Or just keep the account you've currently got)

Thanks this is exactly what I think however keeping the current account would drain the money thats in the account for no reason. Looks like I may as well cancel the account and open another later