Cashplus Business Bank Account

Harmonica89

Hi there,


I'm looking to see if anyone has experiance using the above for a limited company bank account. Are they any good?


Main concern is protection. Is your money safe? As they are not a high street bank.



Also, assume they have a 14 day cooling off period when you apply for an account? Does anyone know what the charges are when you cancel the account (if any)?



Thanks, Allan

tryin

They charge £69 pounds a year, so you probably lose that if you cancel the account.

IvanDP

Harmonica89 wrote: »

Hi there,


I'm looking to see if anyone has experiance using the above for a limited company bank account. Are they any good?


Main concern is protection. Is your money safe? As they are not a high street bank.



Also, assume they have a 14 day cooling off period when you apply for an account? Does anyone know what the charges are when you cancel the account (if any)?



Thanks, Allan

Have you thought about a Starling business account?
Their business offering looks fairly competitive and as it is a fully licenced bank, takes away your fears about your money not being safe.

System

A friend uses them and is always complaining that they take ages for incoming payments but they are apparently competitive for Post Office deposits.

I would suggest looking at one of the big bank's intro offers, Metro Bank, Starling or Tide.

sal_III

£69 annual fee - hard pass. I pay less (£5/m) for Barclays.

If you are after fintech bank go for Starling - free, or Tide - £0.20 per transaction fee.

If you prefer high street Metro is essentially free if you keep £5k+ balance.

tryin

That's not free. Its costing the interest you can get on that money. If you put it in a good savings account, it will make more than the £69 fee.

dannyhefc

I had cashplus account and can honestly say it was the worst banking experience I've ever had, transferring money out of the account took hours not seconds. I've since moved to Starling Business who are much better.

DCFC79

I would go for a Starling Business account.