RBS Business banking switch-switching an unused but "active" business account.

zeus22t

So you may or may not be aware of RBS's business banking switch scheme which offers you a cash lump sum to move your business account to another bank. Over lets say a year its gone from £250 to now £1250 and I am thinking about doing this purely for the cash. My issue is that I haven't used my business account for the best part of five years since I am no longer self employed . So my question is this, After I transfer the account and still don't use it, will I be liable for some sort of fine?

jonesMUFCforever

You have got to find someone to accept you first - it will not be just a transfer of account - with business accounts the banks require a lot of information about you - so if you have had no turnover on the account for 5 years - well forget it.
Close the account if you are paying charges.

zeus22t

jonesMUFCforever said:

You have got to find someone to accept you first - it will not be just a transfer of account - with business accounts the banks require a lot of information about you - so if you have had no turnover on the account for 5 years - well forget it.
Close the account if you are paying charges.

makes sense, cheers