RBS Business Current Account Any Good?

resourcefulstyle

Hello, I am just starting up as a sole trader, and as I am an existing RBS customer, I opened up a business current account with them (24 months of fee free banking seemed a great deal). A few friends have warned me off RBS for their business accounts, saying that they can't be trusted, and that they change the goal posts / terms and conditions etc... I know they have been in the news just recently about some pretty shocking practices, historically, relating to small businesses, but was wondering if anyone had any personal experience with them recently? Do they start charging for things, even though they claim they don't? I will mostly be selling online (handmade jewellery), so lots of (hopefully!), small transactions.

Any advice or experience would be greatly appreciated!

Thanks!

martindow

I don't think you need to worry about dodgy business practices now. It related to businesses with overdrafts or bank loans who were ruined by interest rates being raised or loans called in.

I imagine you won't be operating with an overdraft and in any case, since the scandal, RBS is probably being whiter than white or at least less grey.

rhysadams

I find RBS hard work nowadays, we use them on a daily basis but are currently switching to Santander. In the old days we used to get Business Relationship Managers and someone on the other end of the phone. Now we have a branch that refers us to business support and business support who refers us to a non-existant relationship manager or the branch. Hard work.

We pay for banking now and don't expect a business relationship manager so thats why we have chosen Santander.