New business account, which one?

Baking_Mad

Hi guys, hope you can help. I need to open a business bank account for my new bakery business. I'm a sole trader and turnover is small so I'm looking for something with no or low fees. Essentially I need it so the customers can send me payments by BACS.

Any help would be greatly appreciated 😊

eskbanker

See http://www.moneysavingexpert.com/banking/small-business#acc

jonesMUFCforever

Any bank will accept payments from your customers - you only need to give them your sort code and account number.

Most banks have a free period before they start charging you.

will-he-payitoff

Yorkshire bank are doing 25 months free business banking.

TheTracker

will-he-payitoff wrote: »

Yorkshire bank are doing 25 months free business banking.

New businesses:
Yorkshire, Clydesdale - 25m
RBS - 24m
HSBC, Lloyds, TSB, Santander - 18m

Switchers:
Yorkshire, Clydesdale - 25m
TSB - 18m
HSBC - 12m
RBS - £150 bonus, worth 10m
Lloyds - 6m

Shouldn't ever have to pay if you keep switching.

planteria

fwiw i use HSBC for business banking and don't plan to change.
moving business banks can be more of a hassle, ime, than changing personal banking. i have customers who have my company already set up on their systems.. i don't want payments going astray.

and having dabbled with Santander, HSBC are a 'proper' bank that don't make continual mistakes:)

[Deleted User]

Baking_Mad wrote: »

my new bakery business

Baking_Mad wrote: »

turnover is small

Doesn't sound like a very good business plan. I like big apple turnovers.

:rotfl:

Futuristic

planteria wrote: »

fwiw i use HSBC for business banking and don't plan to change.
moving business banks can be more of a hassle, ime, than changing personal banking. i have customers who have my company already set up on their systems.. i don't want payments going astray.

and having dabbled with Santander, HSBC are a 'proper' bank that don't make continual mistakes:)

HSBC is meh to say the least, online banking is quite terrible and been down more than Santander

Just join up as a FSB member, get additional benefits along with Co-ops FSB package:
http://www.co-operativebank.co.uk/business/currentaccounts/fsb-current-accounts

EarthBoy

Futuristic wrote: »

Just join up as a FSB member, get additional benefits along with Co-ops FSB package:
http://www.co-operativebank.co.uk/business/currentaccounts/fsb-current-accounts

I can't comment on the FSB, but the Co-op's online business banking is rubbish.