business account

[richard101]

Hi All

Now it looks like I'm returning to contracting for sure I'm keen to do things right.

Question: What's the best business bank account? and what about 'off-shore'?

thanks

richard

[monobrow]

Hi All

Now it looks like I'm returning to contracting for sure I'm keen to do things right.

Question: What's the best business bank account? and what about 'off-shore'?

thanks

richard

my 2 cents..

there isn't one.

everyone has their own opinion based on their own experiences. Personally I use barclays and am very happy with them. there are also people who think they are useless. you get my drift?

if you are looking for a cheap way in, most of the big accountants will set you up with a Carter Allen bank account which those who use it say its great.

"off-shore"? errr... yeah, sure...... seek financial advice for that, or get a great lawyer later on. OR do some research on the interweb and then go get financial advice, and then a great lawyer.

[Clare@InTouch]

Cater Allen work well for a lot of contractors, with the benefit of not charging bank charges for a certain number of transcations. There are other banks that provide free banking, but it's often limited to teh first year or two.

As monobrow says you'll often get accountants who can set up the bank account for you with Cater Allen too, just saves a bit of paperwork for you.

[xoggoth]

Santander formerly Abbey don't charge anything on business current accounts. Bit slow to get out checque books etc but fine otherwise.

[Wanderer]

Now it looks like I'm returning to contracting for sure I'm keen to do things right.

Question: What's the best business bank account? and what about 'off-shore'?

If you want a kick start then consider joining the PCG, they'll get you a package with pretty much everything you need including accountant, company formation, bank account, VAT, Flat Rate Scheme, insurance etc.

Santander formerly Abbey don't charge anything on business current accounts. Bit slow to get out checque books etc but fine otherwise.

Santander = Cater Allen = Abbey, probably all much of a muchness.

Things to look for are:

Free banking (presuming you aren't doing hundreds of transactions per month)
A Visa/Mastercard debit card for charging stuff to your company account. (Cater Allen make you wait 6 months for this)
Decent online banking website.