Business ACcounts

jonesMUFCforever

janetteosborne wrote: »

Hi

Thanks IDavies for your help. I am going to the bank tomorrow and I will discuss it with them.

MUFCforever - well what a stupid answer. Of course not but why should I have to pay in my own hard earned cash and take it out.

Ridiculous.

JOsborne

I'm not sure whether you really don't get it or whether you are winding me up.
Good luck with your discussions tomorrow.

I think the phrase 'manage away' may be heard in the office after you depart, if you don't make the bank some profit they won't want you as a customer - just as you would not work on a contract for someone for a loss.

olly300

janetteosborne wrote: »

Hi
MUFCforever - well what a stupid answer. Of course not but why should I have to pay in my own hard earned cash and take it out.

There is no need to have a go at MUFCforever and calling him ridiculous shows your own ignorance about how banks and other services companies work. They operate to make money.

Banks make money out of personal accounts due to the amount of people who go overdrawn which is why there was the OFT case on bank charges, which the banks are appealing. If the banks lose the appeal then the banks may have to follow the model that that operates in other European countries this is a mixture of:
1. charging you per transaction
2. charging you a monthly fee to have an account (they already do this if you have a "premium" type bank account.)

If you have a business account you are unlikely to go overdrawn like a personal customer so the bank has to make money from your business in some other way. The way banks charge businesses is similar to how banks in other European countries charge personal bank accounts.

BTW I do my business banking with HSBC and know that if I do traditional banking rather than online banking then I will be charged after a certain number of transactions.

janetteosborne

Hi

I'm not trying to wind anyone up. It was a genuine question.

Don't the banks make money from investing my money then? I thought that was how they made their money - durghhhhhhhhhhhhhhhhhh.

When the costs outweigh the profits don't you agree it is a little unfair. All I am asking for is some information about business accounts without having to pay the earth to get at my money and to pay in cheques.

JOsborne

jonesMUFCforever

Like I said I think they will be happy to close the account for you if you are unhappy.
How did your discussions with the bank go?