Best new business account?

hen80

Hi,

We are new here but have heard these boards are full of good advice. Recently myself and my fiancee started up on our own and are now running about like maniacs trying to sort everything out. I was hoping someone here might have some advice on the best banks to go with regarding opening a business account.

We would mostly be taking cheques and doing online banking or taking credit cards over the net.

We met with HSBC last week who actually seemed pretty good but we are not sure if there are certain things to look out for that might catch up with us at a later date. You know, the sneaky small print worded in certain ways to capture you or hold you to ransom at a later date kind.

So, if anyone has any advice we would be really grateful to hear it. Thanks a lot!! :money:

gibbyni

we have used abbey business banking for a few years now and we have never been charged for it. there are limits on how much you can lodge i think its something like 100 cheques per month. To lodge you just use one of there cash machines or post them off. only downside is you cant use the branch for anything to do with the account but i have always found there phone support spot on.

hen80

Great, thanks gibbyni - will have a look at Abbey. Can anyone else recommend any other banks? Thanks.

gt94sss2

Most business accounts are very similar and most banks offer 1 to 2 years of free banking on their 'fully featured' business accounts.

My father uses a HSBC Business Direct account which suits him as he doesn't deal in cash and which is fee free (within limits) rather than their more fully featured Business Current Account

He did try an A&L business account for a while but soon went back to HSBC as he found A&L terrible in his experience.

I don't think there are really any catches you need to worry about - as long as the account you choose is suitable for you and you are happy with any charges when any period of free banking finishes. Otherwise, you can always change banks/accounts at will - the only hassle being letting people know your new banking arrangements if necessary and perhaps getting a banks ok to accept credit card payments..

Regards
Sunil