Recommendations for business bank account

kazziemikey

Hi

I just wondered if anyone can recommend a good business bank account. We current use RBS but lately they have not been so great.

Charges are quite high for everything we do and they are taking days to take money out and show where it has gone when we have used our debit cards.

Many thanks

TheTracker

kazziemikey wrote: »

Hi

I just wondered if anyone can recommend a good business bank account. We current use RBS but lately they have not been so great.

Charges are quite high for everything we do and they are taking days to take money out and show where it has gone when we have used our debit cards.

Many thanks

I see from previous posts that your business is three years old, but five years ago you were personally going through bankruptcy. Have you cleared your bankruptcy? I assume so as you can not be a company director while bankrupt. If I recall correctly, on business current account applications I usually have to answer "have you ever been declared bankrupt". You should be aware that this may effect your ability to get a bank account, even though your personal and business liabilities are separate.

To your question, quite a few high street banks offer switch incentives for business accounts, usually free online banking for 12+ months. See if the bank you personally bank with has a better business account than your RBS account. Because you've already got a personal account it may help on application.

jonesMUFCforever

kazziemikey wrote: »

Hi

I just wondered if anyone can recommend a good business bank account. We current use RBS but lately they have not been so great.

Charges are quite high for everything we do and they are taking days to take money out and show where it has gone when we have used our debit cards.

Many thanks

First of all all banks take 2-3 working days for transactions to be debited when you use a debit card (whether on a personal or business account). Some banks let you see pending or earmarked transactions before they go through.
You don't pay your bank to be your accountant - up to you to have a system where you enter debit card spends into your books.

Try seeing if they have a digital tariff?
One where all electronic credits and debits are free but not cheques and cash - so teach your customers to pay you via FP not cheque or cash.
Pay your bills electronically not by cheque etc

This should reduce your bills but ask your RBS business manager

kazziemikey

We didn't go through the bankruptcy in the end as when we checked through all our debts on the credit files we was not in such a bad situation as we thought.