Best Small Business Bank account?

Slinky

I've been with RBS Business Banking Direct for about 8 years. Free banking, post off cheques in prepaid envelopes. They won't deal with cash, but any odd bits of cash I get I bank into a personal account and send them my cheque.

I've paid about £20 in bounced cheque charges across the years, but that's all.

wattc

Slinky wrote: »

I've been with RBS Business Banking Direct for about 8 years. Free banking, post off cheques in prepaid envelopes.

Does this account actually exist any more? When I google it, I get links, but the links go to a dead page. Can't find any info on the account itself or the details on account fee?

Svalbaard

I've just started my own business and am with Cater Allen. No fees for me as long as balance is above £5k.

MallyGirl

wattc wrote: »

Does this account actually exist any more? When I google it, I get links, but the links go to a dead page. Can't find any info on the account itself or the details on account fee?

OH is still in the middle of opening an RBS business account - it will only be free for first 2 years I think. The whole process has been a nightmare in slow motion. 5 working days from first appointment was what they promised - it is 4 weeks and counting now and still no account. We need the account to get VAT registered so he can bill. He has ended up starting the contract with no mechanism in place for billing. We went with RBS as we already had a relationship and history with them to make the KYC stuff easier but they have been really rubbish so far

afly

Business banking is shockingly bad compared to consumer offerings. Watch savings rates plummet to the floor for exactly the kind of entity which may have significant tax reserves set aside :wall:

Also be prepared to pay more and get less on pretty much any "business" utility offering, especially broadband

Slinky

wattc wrote: »

Does this account actually exist any more? When I google it, I get links, but the links go to a dead page. Can't find any info on the account itself or the details on account fee?

Sorry I need to check the website on my other computer as my link is bookmarked. I'll have a look tomorrow for you.

Slinky

Slinky wrote: »

Sorry I need to check the website on my other computer as my link is bookmarked. I'll have a look tomorrow for you.

Have had a look, I think you may be right, it doesn't appear to be an account they offer to new customers any more. Sorry.

wattc

Slinky wrote: »

Have had a look, I think you may be right, it doesn't appear to be an account they offer to new customers any more. Sorry.

Thanks for confirming. Yes, it looks like they must have withdrawn it, as I couldn't find it anywhere. I guess the next best thing is one of those accounts with 2 years free and then monthly fees

Slinky

My OH's business he uses Coop bank which he got free banking as part of his FSB membership. Not the nicest website interfaces out there but if free banking is required, it's one of the few choices left it appears.

MallyGirl

MallyGirl wrote: »

OH is still in the middle of opening an RBS business account - it will only be free for first 2 years I think. The whole process has been a nightmare in slow motion. 5 working days from first appointment was what they promised - it is 4 weeks and counting now and still no account. We need the account to get VAT registered so he can bill. He has ended up starting the contract with no mechanism in place for billing. We went with RBS as we already had a relationship and history with them to make the KYC stuff easier but they have been really rubbish so far

Yes - we have an account number and sort code! Just over 5 weeks from initial appointment with RBS (which took a week to get). Now the VAT registration ...