Business Account

$17mma

Our Business account with Barclays will start charging from next month. Can anyone recommend another account we can switch to and is switching straight forward?

Thanks for your help :beer:

marlewuk

switching banks should be really easy now that the 7 day switch guarantee has launched. any high street bank, just pick one which has the best incentives.

ex2t633w

What if we have savings in "old "bank at 4%--will the new bank take over the savings? At the same rate? Or if money stays in " old" bank how do we access our savings without their current account ?? Bit confused.

$17mma

marlewuk wrote: »

switching banks should be really easy now that the 7 day switch guarantee has launched. any high street bank, just pick one which has the best incentives.

Thanks I have just seen this in the news, looks promising!. :j

Still looking for a recommendation on another Business Account though. :T

Archi_Bald

marlewuk wrote: »

switching banks should be really easy now that the 7 day switch guarantee has launched. any high street bank, just pick one which has the best incentives.

Switching applies to personal current accounts, not business accounts.

OP, you might get better help on the smal biz board: http://forums.moneysavingexpert.com/forumdisplay.php?f=27

Archi_Bald

ex2t633w wrote: »

What if we have savings in "old "bank at 4%--will the new bank take over the savings? At the same rate? Or if money stays in " old" bank how do we access our savings without their current account ?? Bit confused.

Off topic for this thread but:

Savings accounts are not getting switched, only current accounts.

If you have a savings account that pre-reqs a current account / needs a "linked" account, it would obviously not be very clever to switch the current account since part of the switching will be that they close your old current account. But I don't think there is anything that stops you from doing it, particularly not if the savings account is with another financial institution.

If you do want a new / additional current account, just go ahead and apply for one, without taking up any switching offer. You can change any DDs and SOs yourself at your leisure. Once you have the new account up and running, you should also be able to change the "linked" account on any savings accounts to your new current account.

marlewuk

Archi_Bald wrote: »

Switching applies to personal current accounts, not business accounts.

you may want to check these out


http://www.lloydstsbbusiness.com/accounts/businessaccountforswitchers.asp

http://www.barclays.co.uk/Businesscurrentaccount/MakingthemovetoBarclays/P1242558558413

just a couple of examples that it DOES apply to business current accounts too

Archi_Bald

marlewuk wrote: »

Archi_Bald wrote: »

Switching applies to personal current accounts, not business accounts.

you may want to check these out


http://www.lloydstsbbusiness.com/accounts/businessaccountforswitchers.asp

http://www.barclays.co.uk/Businesscurrentaccount/MakingthemovetoBarclays/P1242558558413

just a couple of examples that it DOES apply to business current accounts too

I stand corrected. Looking forward to the first person who [credibly] reports their account switch to be absolutely complete(*) in 7 days(**), be it a personal or a business account.

** that is 7 working days from when they first applied for their new account.

* "complete" as in: they can use their new account without ever having to think about a previous current account. Would love to get an update after the first year with the new account, too.