Abbey business banking

[Luxury Beauty]

does anyone bank with abbey for their business account but also have an abbey current account?

its just that sometimes when i put money in, it can take about 2/3 working days to clear and iv just opened a current account with them and wanted to find out can you transfer money from one to the other and get it straight away?

 

[fozzyo]

I talked to Abbey initially at my local branch (Wolverhampton). They didn't have any business bank specialists there and were a bit clueless.

In the end I opted for HSBC Business Banking. I have my personal account with First Direct so transfers between accounts are instant, and I have my own Business Bank Manager at the local branch I can call / e-mail and service is generally very good. HSBC do annoy me a bit at times, but now that I actually have to pay for the service each month I expect customer service when I go to the branch.

Mat

 

[Trinity]

does anyone bank with abbey for their business account but also have an abbey current account?

its just that sometimes when i put money in, it can take about 2/3 working days to clear and iv just opened a current account with them and wanted to find out can you transfer money from one to the other and get it straight away?

I would suspect Abbey to Abbey cash would be instant, but the Abbey are the only people who will be able to answer this for you.

I have an Abbey Business account and you're right, it does take ages for anything to clear or transfer, I was told this is because the business banking is handled by a separate department not by the tellers in the branches. I'm sure it's all just banking gobbledegook as an electronic transfer is the same for process for every bank but some do it immediately and some don't

If you're looking for faster access to your money Abbey is probably not your best bet. It works for me as I'd rather wait longer but pay no fees. It depends what works for you as an individual though.

 

[Cathie!]

I've just changed from Abbey to Alliance & Leicester Commercial Bank because it was such a pain to deposit cash in an ATM and then have to wait for it.

Still free banking within certain limits which are pretty high and also their Merchant Services provider costs me less per transaction than Abbey.

Plus you can deposit cash at any Post Office and it's availbale to draw on straight away.

HTH

 

[angelina221]

i've always found that a bank is only as a good as the bank manager. obviously different banks offer different incentives but i would make sure you have a chat with the bank manager as well as any business advisor at the branch.

 

[Trinity]

I've just changed from Abbey to Alliance & Leicester Commercial Bank because it was such a pain to deposit cash in an ATM and then have to wait for it.

Still free banking within certain limits which are pretty high and also their Merchant Services provider costs me less per transaction than Abbey.

Plus you can deposit cash at any Post Office and it's availbale to draw on straight away.

HTH

Sounds like a good deal Cathie - how much is the Merchant Services?

I got free installation (saved £250), monthly rental is £20 and debit card transactions are 35p with Abbey, which seemed a good deal at the time. Are A&L offering better?

TIA

 

[Cathie!]

£100 one off fee
20p debit cards
1.8% (might be 1.6%) credit cards
£15 p/m rental fee.

And the payments get to the bank in 2 days!

 

[Trinity]

£100 one off fee
20p debit cards
1.8% (might be 1.6%) credit cards
£15 p/m rental fee.

And the payments get to the bank in 2 days!

That's really good - thats for the info :hug:

 

[essentia]

Hi I joined the federation of small businesses. You get free banking with the Co-operative Bank. You can deposit and draw money at the Post Office. I have just received my credit/debit card machine. Free to set up, low charges per transaction which also go down after 6 months. £15 per month rental fee. The FSB also give you loads of advice about tax, employee law, legal stuff etc, etc. If you should run into trouble they offer a brilliant support service.