Business Account

slickdt

Hi guys and girls, my first post here.

I run a small cleaning business and have been using my personal account for banking. But as the business is getting bigger I am now needing to open a business account.

I was wondering if anyone can suggest any good accounts!?

I don't want to pay for deposits I leave by either cash or cheques!!! Hey I work hard so why should I be charged just to pay money in that I have earned!

Thanks in advance for any help.

AuxArmes

Will you come and clean my place for free? I work hard and don't see why I should pay you.

A few banks will do free banking for a short period or under certain conditions (such as no counter service or a limited number of transactions) but if you are regularly banking cash and cheques you are going to have to pay for it.

WhoopieDoodle

I am self-employed and my business bank account is with the HSBC.

They are offering the first 18 months free - if you will have a lot of cheque/cash deposits.

My free banking is coming to an end, but they do allow quite a good amount of "free" transactions before you have to pay.

I've been with them for around a year and a half now and had no problems at all and it certainly makes life easier having a separate bank account for the business.

:0)

WhoopieDoodle

If you check out their website, they show all the different accounts so you can find one that will suit your needs (I am primarily internet banking, so cheque/cash allowance is different to other accounts)

Hope this helps ;0)

slickdt

Simply the charges for putting in cash/cheque payments that bother me.

A limit of around 100 a month would be fine, as I dont think I would go over that!

TomsMom

slickdt wrote: »

Simply the charges for putting in cash/cheque payments that bother me.

A limit of around 100 a month would be fine, as I dont think I would go over that!

Do you mean you'll only be depositing £100 a month in the account?

Alliance & Leicester do free business banking providing £1,000 per month is paid in (no transferring between A & L accounts to make up this £1,000). They charge £5 per month if less than £1,000 paid in. No other charges (unless you go into overdraft) - hubby has this account for a few years now and has never been charged a penny.

greenface

think OP means 100 cheques per month.
If you are going to the bank often i would consider other factors aswell as "free" banking such as locality to where you are comming from to use it parking issues to get to the bank. What i mean is not worth having "free" banking if it takes you 15 minutes in a car(out of your way) £3 to park and a fair walk to deposit a few cheques a couple of times a day

slickdt

TomsMom wrote: »

Do you mean you'll only be depositing £100 a month in the account?

Alliance & Leicester do free business banking providing £1,000 per month is paid in (no transferring between A & L accounts to make up this £1,000). They charge £5 per month if less than £1,000 paid in. No other charges (unless you go into overdraft) - hubby has this account for a few years now and has never been charged a penny.

Sounds very fair, thank you.

Yes I meant 100 cheques paid in.

myvanwi

I own and manage a cleaning company and the majority of our business is domestic homes. The profit margins are very low and it is very hard work but we are expanding. We are moving into our first office in two weeks time. I would be interested to hear from other cleaning companies about the issues surrounding all aspects of the business and how we can run our business efficiently. Any tips or advice from people who have been there and done that would be gratefully accepted. Maybe someone whos small business has now turned into a medium size business.