Free business banking forever for small businesses

tastyhog

so, one of the fintech banks, starling bank, is just about to throw a cat amongst the pigeons for small business owners, they are launching a completely free business current account for small LTD companies that have a turnover of less than 1.7 million.

it will be free for all transactions

https://www.starlingbank.com/business-account/

now then, it doesn't allow you to pay in cash / cheques at this point.

but free electronic payments, transfers in and out, faster payments, better transfer rates when sending abroad because of the interbank rates you're given.

i've had one of their personal accounts for quite a whole and thinking about getting one of the business account.

so thoughts?

martindow

The main shortcoming is that it is only being offered to limited companies at the moment although it does say it plans to offer accounts to sole traders and partnerships in the future.

It clearly would be no good for anyone taking cash payments., but otherwise could be worth considering.

tastyhog

So they launched these accounts today.

sign up was painless, only took about a minute to have the account fully opened.

only support for single director / one PSC ltd companies at the moment though.

Could be a great option for those struggling to get a full business account elsewhere.

lisahud82

Im currently looking for a business account and this could be perfect. Will check them out, thank you so much