How long.....?

[Mustang]

How long did it take most of you to open your business bank accounts? And with whom?

My plan B may take off quicker than expected. Not yet opened an account and cant remember how long it took me originally. Anyone else with better memories and/or done it more recently.

Thinking of going with Cater Allen or Santander if they can do it in a reaonable time frame. If not, I will resort to Nat West....

[DiscoStu]

Cater Allen took about 3 weeks to open my business account

After about a fortnight of waiting I went to my local HSBC, they had it all set up in about half an hour.

[mudskipper]

Santander did it over the phone for me (took a week or so to send through the three separate bits of login info though) - it was painless because I was 'electronically verifiable' - I'm still trying to work out if this is a good or bad thing...

[BolshieBastard]

Abbey \ Santander had a major problem with their net Business Banking some time ago.

Couldnt access money or pay bills etc. They eventually had to create a new savings account as for some reason it no longer linked to the business current account.

Lots of people affected.

Account is closed now and when I set the new company up, Im going with Co Op net banking.

Do you still need to get a letter from your accountant stating T\O to open a Cater Allen account? Had one of these a long time ago but then they got pissy saying you had to maintain 5k in your account to avoid charges. Closed that one smartish.

[TykeMerc]

My Cater Allen account was set up same day, the stuff arrived inside a week or so.

[TheCyclingProgrammer]

In the process of moving from Cater Allen to HSBC, took half an hour to set up the account (after going into the branch after applying online 2 days before) and 2 days for the internet banking guff to come through. Just got to transfer the money and the DDs now.

[lje]

I set up a bank account with Cater Allen last October / November. I sent my application to Contractor UK so that I could avoid having to keep 5k in the account. It was during the postal stike and all in all it took 3 to 4 weeks to set up - I'm sure it would have been quicker without the strike.

Whilst that was happening I got fed up and decided to open an HSBC account (where I have my personal banking). I didn't have time to go in to a branch as I was in a new contract so I applied online. 3 days later they phoned me to ask more questions and then wanted to set up a meeting for me at the bank. Their system was down so they said they'd get someone to phone me back from the branch which I had selected. A week later someone phone me back from a different branch entirely. Not a good customer experience. By that time Royal Mail had sorted themselves out so I didn't need it after all.

It was a strange experience to have the client company keep chasing me because they wanted to pay and me having to ask them to wait!

[philip@wellwoodhoyle]

The last Cater Allen account we set up on behalf of a new client/company formation (just before Christmas) was done virtually the same day they received the paperwork from us. Client knew the bank account number straight away and the cheque book/paying in book arrived the following week. Out of a few dozen applications we've made, most are opened within a few days, only a couple of times have things taken a lot longer - both times when the circumstances weren't bog-standard.