Cashplus Business Account - any good experiences or other options?

moatmeister

Seen plenty of bad reviews about cashplus, but anyone got any recent good experiences of applying for/using this?

Just been turned down by Santander. Want a straightforward business account for someone with a straightforward but very recent credit history to open a ltd company in the uk. No requirement to send funds in dollars to Mogadishu or accept CHAPS transfers in, just to run a genuine uk small business taking cash and card payments ideally with paying in at the post office.

CKhalvashi

Try Barclays who seem to be on a drive for new business at the moment. Make sure you get a face to face appointment though if you're likely to have problems with credit checks and make it clear you require no lending.

If not there are a range of cheaper app-based alternatives, the majority of whom should offer post office banking.

Hope this helps.

Lumanous

I have a Business Cashplus account for my Limited Company and haven't had any issues really. All fine with the app and website but I'm still in the first year of using.

The only problem I experienced was that you cannot input cheques into the account if they are in the business's name. You can input cash through The Money Shop but not cheques unless they are in your own name (not the business). They say you can pay in through the post office but I'd recommend checking with your branch because some post offices cannot deposit cash into these accounts.

Can't really comment on the application process to be honest as it was mostly handled by my accountants so it was all smooth. Had a bit of a delay because I hadon't a cifas marker (victim of fraud) but only a few days and was all set.

I am not necessarily in the same situation though, I receive BACS, send/receive faster payments, few direct debits set up etc. And mostly HMRC payments of course. Only thing I would note is check the charges for payments, first few each month are free after that charged but of course terms will vary by account.

Hope this helps