Best Business Bank Account

[Debsidoo99]

Can anyone reccomend a good bank toset up my business account with ?
I deal mostly with cash but obviously have the odd cheque or two that will go into the bank and then my cheques for buying stock.
I don't want to be paying loads of bank charges for the privilege of cashing my hard earned money !!!
Any help greatly received
x

 

[Sassy Hassy]

I'm with Barclays which frankly sucks. They have changed the way they charge since I opened my account, before it was per paying in transaction, so I used to pay in once a week and never got bank charges. Now they charge 75p per transaction, plus 25p per cheque, and so much per £100 cash. I saw my business banker and she said pay it inot your personal account and then transfer it on-line as it's free. Well how silly, it's costing them twice!

Now I am taking card payments I can't do this as it gets paid into my business account. So I am looking around, the best one I have come across is the Abbey National business account asd you get a huge number of transactions free before they start to charge, and they guarantee this for life (not just for Christmas!)

You may get free banking for a limited period with the big guys, but when that's up they seem to like to hit you big time. And the advice I have had from my banking advisor has been all but non existent.

 

[naturalnails]

If you are self employed and deal in cash and cheques only then why do you need a business bank account? Why give the banks all of those charges.

If you want to be able to take card payments then I think you might not have a choice.

I say save your money - you work hard enough for it.

I bank with Smile and have done for years and I have a separate account for my "business" transactions.

 

[Trinity]

Abbey have a free banking forever business bank account if you bank less than £3000 per month

You can only use their cash machines for deposits and they give you loads of envelopes for banking cheques by post but it's free and you get interest when you are in credit

HTH
Trin
xx

 

[PLAOH]

If you are self employed and deal in cash and cheques only then why do you need a business bank account? Why give the banks all of those charges.

If you want to be able to take card payments then I think you might not have a choice.

I say save your money - you work hard enough for it.

I bank with Smile and have done for years and I have a separate account for my "business" transactions.

Had never heard of Smile. Thanks for the tip.

 

[pinkshell_nails]

Im with HSBC, and they are great.

 

[Cathie!]

I use Abbey National too, I've never had to pay a penny so far, you get a Visa Debit card too so no problem when ordering your stock.

So you can only use the atms to bank cash and cheques but this had never been a problem for me, even though the money takes a little longer to credit to your account.

 

[Sparklepink]

Im with HSBC, and they are great.

im with HSBC too.... ive found them really helpfull and they were just fab with helping in the loan dept...lol
i used to bank with Natwest but they were really crap.... my business banking manager didnt really have a clue and im sure she wasnt much older than me!
if i were you and you dont really need a buisness account.... id nt get one just open up a separate account so you can keep track of everything and then you done get all the charges etc....
.... ive only got mine cos of my business loan and card machine

Jess
xox

 

[alialy]

.
I was really interested to read all your comments as my 1 year free banking with barclays has just come to an end. I too object to paying money out for nothing and so I will be moving my account to Abbey as well, they sound a better bet for me.
Thanks for the advice!
ali aly xxxxxxxxxxx