TSB business banking

cactusjj

Hello

I am a small business (a very small business) currently with HSBC. My free banking period expired last month. I notice that TSB offer 18 months free business banking if switching to them.
It sounds too good to be true? Free banking is usually only offered to startups. I have a couple of questions:

1) Is it too good to be true? Is there a hidden catch? - I can't see one when reading their website.

2) They mention a 'switch guarantee' - although the business banking page doesn't have many details regarding this process. How is this supposed to work in practice and is there anything I should look out for?

3) Do I still give notice to HSBC that I am closing the account, or is this looked after in the switch guarantee?

Thanks for your time.

Suarez

http://www.tsb.co.uk/contact-us/

c-m

You don't have to tell HSBC, TSB will do everything for you.

Natwest also offer a switching service and give you £100 for the pleasure too. I'm not sure if they are offering free banking on top that though, so make sure you check.

The TSB one, is pretty straight forward. It's just like switching a current account. They aren't the best to be with once the free banking period ends though, so you'll be looking at switching to someone like Santander after the 18 months is up.