Who shall I use for my business banking? ££

[TheFaQQer]

I hear good things about Cater on here but also hear the most complaints. I'm with Santander and have been very happy with them for many years.

I bet you got in when it was free banking for life though, like I did

[northernladuk]

I bet you got in when it was free banking for life though, like I did

Well yes and no... I did but I changed companies recently so had to open a new account

[TheFaQQer]

Well yes and no... I did but I changed companies recently so had to open a new account

I bet you shut down, took ER, split the money with the wife and avoided tax to do it, didn't you??

[northernladuk]

I bet you shut down, took ER, split the money with the wife and avoided tax to do it, didn't you??

Gave my kids shares first to bring the tax liability down a bit naturally.

[Jeremiah@RHJAccountants]

Unsure whether Cater Allen are deliberately trying to NOT take on new accounts at the moment or whether they're just difficult gits...but we've stopped recommending them. Reason being they keep rejecting applications for really daft reasons, and refuse to speak direct to the client...so we end up with protracted daft conversations with us playing piggy in the middle.

We have had this same problem with Cater Allen.

[Mincepie]

I am with Cater Allen. The online banking is about 10 years behind the curve but it does what it needs to just about. The transfers are slow not always next day even if before 4pm.

Its free and i see no reason to leave as i have accepted the small issues

[northernladuk]

MyCo's Co-Op account has no fees, and even pays some interest and £25 per annum loyalty bonus. Not sure if that deal is still available, as MyCo has had this account for approx 12 years, but it might be worth having a look.

Wasn't the Coop the only bank to fail the stress test if there was another crash.. Or something rather unsettling like that?

[Waldorf]

Wasn't the Coop the only bank to fail the stress test if there was another crash.. Or something rather unsettling like that?

Yes, but provided you don't have over £75K with them you will be covered if they fail by the compensation scheme.

[SueEllen]

I am with Cater Allen. The online banking is about 10 years behind the curve but it does what it needs to just about. The transfers are slow not always next day even if before 4pm.

Its free and i see no reason to leave as i have accepted the small issues

Do you know what a "business day" is?

They are next business day if you do your transaction before 4pm. They arrive in the other bank account between 1-2pm in the afternoon if your bank has no issue with receiving FP. Some receiving banks delay receiving FP that are sent in the afternoon until the next day so they can earn some interest. All the banks that had proper issues receiving FP e.g. Nationwide were made to sort out their systems a few years ago.

[WordIsBond]

MyCo's Co-Op account has no fees, and even pays some interest and £25 per annum loyalty bonus. Not sure if that deal is still available, as MyCo has had this account for approx 12 years, but it might be worth having a look.

Still available for Federation of Small Business members, anyway.