Business bank account recommendations

[expat]

My only beef with HSBC is that not only do they periodically nag me to install this Trusteer software, when I decline to do so, they will not let me proceed until I choose a reason not to, and then they insist on showing me a reply to tell me that I am wrong in my reasoning. Frankly I find that quite insulting.

[JB3000]

Knowing nothing about business bank accounts and being close to taking the plunge in moving from permie to contract employment, I now need a business bank account.

Can anyone recommend “the best one” (I know, it probably depends on lots of things) or the key things to consider when choosing a business bank account?

I’ve been told to go with Santander by a colleague, but have no information or justification to that, so don’t want to jump in to the wrong thing.

Thanks

I started with santander as they had a quick turn around however switched to cater allen when santander started charging me £6/month.

[PerfectStorm]

Cater Allen don't appear to have an app or even a mobile site. I quite like to do all my transfers off mobile.

[pr1]

I've got a cater allen reserve account after previous accountant recommendation but don't understand why/how they're often recommended by others, to summarise

• no phone app
• bank transfers take at least 1 working day (never quicker)
• it's free only if your account is has at least £5k sat in it (otherwise it's £15/month)
• 0.00% interest on the first £100k, 0.25% thereafter
• first 30 transactions per month are free then 75p each (transaction = pretty much anything: direct debit, debit card purchase, bank transfer, standing order)
  
  however,
  
• they do send you all the paperwork on nice thick headed paper in posh glossy folders

I'd advise to go with a high street bank with a 2-years-free introductory offer that has an app so you can pay yourself instantly

all information correct as of time of posting
http://www.caterallen.co.uk/download/11
https://www.caterallen.co.uk/interest-rates/7
https://www.caterallen.co.uk/internet-banking

[Bozwell]

[*]it's free only if your account is has at least £5k sat in it (otherwise it's £15/month)

If you open the account via Contractor UK you don't need a minimum balance. Have to say though that the account is extremely basic in features, but it does the job.

The down side of virtually every other account is that they tend to be free only for a limited time.

[BrilloPad]

Avoid Lloyds. I went with them as their personal account is good. Business account took 6 weeks to setup - and still going. No clarity in the process. I had to call several times to find out what was going on.

I now have the account open and have paid money in. But getting money out online is a total nightmare. Hopefully I might get that sorted in the next 2 weeks or so....

[mlc2009]

are there any you can open online without having to visit the branch?

[TheCoconutDog]

are there any you can open online without having to visit the branch?

http://www.aldermore.co.uk/business/.

Might just be savings though

[vwdan]

+1. £5.50 a month but phone number that gets answered and instant bank transfers....

+2 Can't fault them in 18 months. Everything works properly, fast transfers and useful staff. Getting a credit card for expenses was a piece of cake, as was setting up savings accounts.

[Andy O]

are there any you can open online without having to visit the branch?

I applied online for my HSBC account. Very simple & quick.