free banking for ever with abbey business

justpaper

using abbey biz banking over year now, no problems at all,. moved from L/tsb,

Source of Payment to account = from sales / services

Type of Business Premises = home run biz,.

they wont ask about ur home mortgage,.

Is there a minimum amount you have to pay in monthly? nope, of course you would have to put money in to open the account,. but No monthly min payments etc

And Of course this is for small businesses,.. as any Big bizz would'nt give 2bits about paying banking fees,. as they would just claim it back,

MrMoo123

justpaper wrote: »

using abbey biz banking over year now, no problems at all,. moved from L/tsb,

Source of Payment to account = from sales / services

Type of Business Premises = home run biz,.

they wont ask about ur home mortgage,.

Is there a minimum amount you have to pay in monthly? nope, of course you would have to put money in to open the account,. but No monthly min payments etc

And Of course this is for small businesses,.. as any Big bizz would'nt give 2bits about paying banking fees,. as they would just claim it back,

Thanks for this, i'll let you all know how I get on.

justpaper

^ no problem, give them a call if you want them to go over the app/ form with you, before u post it out to them,

katylittlelady

Hi there,
Does anyone know how long this offer has been running and if it is likely to run out? I am planning to start a business next year and this account sounds perfect. From the sounds of it a few people have had the same account for a few years. I just wanted to check if it is a promotional offer, ie, only available for six months or whether it has been there standard offer for some time? If so I will wait til next year to set anything up!

Thanks for all the great advice on here!

martindow

katylittlelady wrote: »

Hi there,
Does anyone know how long this offer has been running and if it is likely to run out? I am planning to start a business next year and this account sounds perfect. From the sounds of it a few people have had the same account for a few years. I just wanted to check if it is a promotional offer, ie, only available for six months or whether it has been there standard offer for some time? If so I will wait til next year to set anything up!

Thanks for all the great advice on here!

As far as I know this is a continuing offer. Could you not open an account now ready for your new business, just in case? It is quite usual to sort this out before you start trading, but maybe it would be best to be a bit vague about when you are going to start up so that it will not seem too far in the future for them. As there will be no charges there is no disadvantage in this for you.

katylittlelady

I was thinking about doing that but then the 8% is for the first year so I would miss the advantage of this if I opened up now as would be no money going in! Think I will wait until beginning of next year to open it and hope they are stilll running the same bank account offer!

COOLTRIKERCHICK

when i phoned abbey.... they free banking for life.. is on going... and they have been doing this for quite a few years...

the offer is the 8% which is excellent rate.... she did she this could change at a later date....

as a friend and i were talking about this... i think at the moment it would be better for non business people who have a large sum of money to open a business account and put hteir money in there.. and only do a few 'transactions' to make the most of the interest rate..

but wasnt too sure if the bank informed the inland revenue of the business on opening the account...

AbbeyFraudMagnet

My abbey business account has been hacked twice in the last 6 months. In both cases, payments were made to personal bank accounts for people with Eastern European names. In both cases, the "user" had all my login details and created payments using the website.

I work in IT so I am aware of key loggers, rootkits, viruses, and fake emails. I use passwords and security questions that could'nt be guessed. A rational person would suspect this to be an inside job....

The most laughable bit is that you can set up a payment on the website, make a payment to it, and it then disappears from your list of payments! This is to prevent the user from "making the same payment twice". What a joke.

As soon as the rest is refunded, I'm off. Fortunately, I check this account daily, otherwise I would now be looking at a balance of zero for current and deposit accounts.

ABBEY EMPLOYEES WHO MIGHT BE READING THIS: if you wish to contest anything I have wrItten here, please DO contact me. I have much more to say on this matter.

Unless you can afford to loose large amounts of money, please think twice before using Abbey for your business banking

martindow

AbbeyFraudMagnet wrote: »

My abbey business account has been hacked twice in the last 6 months. In both cases, payments were made to personal bank accounts for people with Eastern European names. In both cases, the "user" had all my login details and created payments using the website.

I work in IT so I am aware of key loggers, rootkits, viruses, and fake emails. I use passwords and security questions that could'nt be guessed. A rational person would suspect this to be an inside job....

The most laughable bit is that you can set up a payment on the website, make a payment to it, and it then disappears from your list of payments! This is to prevent the user from "making the same payment twice". What a joke.

As soon as the rest is refunded, I'm off. Fortunately, I check this account daily, otherwise I would now be looking at a balance of zero for current and deposit accounts.

ABBEY EMPLOYEES WHO MIGHT BE READING THIS: if you wish to contest anything I have wrItten here, please DO contact me. I have much more to say on this matter.

Unless you can afford to loose large amounts of money, please think twice before using Abbey for your business banking

This is unfortunate and one reads of phantom withdrawals with other banks too. I would be interested to hear how Abbey have dealt with this. Have they agreed quickly that this is fraudulent activity and how is the refunding going?

AbbeyFraudMagnet

My money was refunded two weeks later. No explanation given. Most worryingly, Abbey have no plans to add any extra levels of security, like the "calculators" provided by Nationwide or Barclays, used in conjunction with your card to create an extra level of security for new third-party payments.