Changing my business account

**GillsMan** · 7 February 2011, 17:09

Originally posted by xchaotic View Post

Hi.

I've just recently finished my 'free' period with Natwest and now they charge a somewhat ridiculous 10 pounds per month (!!!) just for the privilege of being able to store my Ltd money with them.
The traffic is about 2-3 transactions per month and I can easily inform everyone (my clients, perhaphs HMRC about the acct change)
Who would you recommend and why?

I went with HSBC on account of the fact they were the only bank that I went into on a Saturday that had someone who could open a business account for me.

You see, the thing is about being in business, is that I tend to work Mon-Fri, so not being able to see a business advisor on a Saturday is a bit silly.

HSBC have been fine, though their website is a bit crap.

**SueEllen** · 7 February 2011, 18:09

People on here use HSBC, Carter Allen, Santander..........................

To be honest if you are happy to do most of your banking online or via the telephone, then just look at any bank who won't charge you for the privilege after 2 years as online and telephone banking saves the bank money in dealing with you.

I went with HSBC because they opened my account there and then, plus I didn't have any other accounts with them. Some of my family have accounts with Carter Allen again their personal accounts aren't in that banking group.

**TykeMerc** · 7 February 2011, 18:09

Like many on CUK I use Cater Allen, free banking, ok(ish) website and on the couple of occasions I've phoned them their response has been informed and helpful.

**Waldorf** · 7 February 2011, 21:19

Another Cater Allen user here, and very happy, my accountant sorted the account for me so speak to them as I think they can speed it up and waive any fees.

**FarmerPalmer** · 7 February 2011, 22:56

Satander - no minimum balance and free banking for life.
I use them, and my wife used them for her business, with no problems.

**Wanderer** · 8 February 2011, 00:33

I use Cater Allen. On the plus side, their website is OK and the account setup wasn't that difficult. I've never spoken to them or visited a branch (do they even have any?).

You can download your bank statements to your PC, say for importing to free agent but they will only go back 13 months and then you can only download 3 months worth at a time which is a bit sucky. They don't pay any interest unless you have a bazillion pounds in the account, but then again who does pay interest these days?

They offer a Visa debit card which is great for company expenses but there is a 6 month wait to get the card for new companies. If you transfer and you can show a balance >£5k for 6 months at your last bank then they will give you one straight away.

They also have Euro/Dollar denominated accounts if you do business in that part of the world so you can avoid the normal rip-off exchange rates that banks are so keen to offer us.

**jmo21** · 8 February 2011, 10:57

+1 for Cater Allen.

Anytime I've needed to phone them, the call gets answered instantly, which is great, though a little disturbing - not used to a call being answered so quickly like that for a call centre.

**Support Monkey** · 8 February 2011, 15:56

another one for Cater Allen I have phoned them several times anthere always very good, the only downside is there is no interest unless you have a s**t load of money.

slightly of the point, i have a reserve savings account and i had not moved any money in for 6 months and i logged in one day to find the savings account with all my money in it had vanished so i calls them up and the fella advised if you don't use it for 6 months they hide the account if you then leave it for a year it becomes dormant and if you then leave it for 10 years the goverment get it, needless to say i setup some transactions to make sure it stayed in use

**sy8111** · 8 February 2011, 16:13

I use Santander. Life time free banking, over 2% business saving account rate. It is not bad.

Changing my business account