Setting up limited company

[ladymuck]

When I set up my account with the Abbey there was no requirement for the Co Sec to put their mark anywhere near the app form, unless I wanted them to.

[BillHicksRIP]

Well that's where I'm headed then!

[Pondlife]

When I set up my account with the Abbey there was no requirement for the Co Sec to put their mark anywhere near the app form, unless I wanted them to.

When I applied for mine the other week it was a definite requirement for the Co Sec to sign the application but not for them to have any authority over the account. They seem to have changed a number of things in their appl process. Before you needed your cert onf Inc and headed notepaper with comp address. Now they check with companies house themselves. Unfortunately it means that the whole process takes longer.

[ASB]

Well that's where I'm headed then!

How will you file the end of year accounts which must [currently] be signed by the secretary?

[BillHicksRIP]

I'll pay my yearly visit to my relation who lives a fair distance away. I need to get the bank account set up pronto, and would prefer not to have to fetch them here, or round-trip courier the bank documents for their signature if I don't have to.

[ladymuck]

You can download the app forms off their website. Might be worth taking a look first!

http://www.anbusiness.com/apply/busi...ng/index.shtml

I seem to recall it being very quick and easy - it was only last year I did it.

[Pondlife]

You can download the app forms off their website. Might be worth taking a look first!

http://www.anbusiness.com/apply/busi...ng/index.shtml

I seem to recall it being very quick and easy - it was only last year I did it.

They reckon that they've been inundated recently because of some marketing campaign and are 'victims of their own success'

[BillHicksRIP]

Pondlife - you were entirely correct about the form requiring the Co Sec's signature. Unfortunately, first impressions of Abbey National were bloody awful. Rang their helpline first thing asking for an appointment with someone at a branch in Reading and was told I'd be contacted shortly. Having heard nothing by 3.30, I went into the city centre branch. I've never met anyone as clearly out of her depth as the woman I spoke to.

Me: "I'd like to speak to someone about a business account, please."
Her: "Do you want a form to fill in?"
Me: "No. I'd like to discuss setting up the account, what the charges are etc. I did try and arrange an appointmen.."
Her: "Huh? We don't take appointments." Rolls her eyes.

After sitting at her desk, she hands me an application form, and says, "Fill that in and send it off."

Me: "What ID do you need from me to open the account? I have to get the bank account opened as soon as possible."
Her: "We need proof of who you are."
Me: "So, the passport and driving licence I've got here then?"
Her: "Yes.
Me: "So you just want me to send them off somewhere then?"
Her: "Yes. No....I can photocopy them"

Photocopies them, signs the back, and hands the copies to me.

Me: "So, don't you need to see some documentation about the limited company?"
Her: "Oh, just a copy of that incorporation...documentation...whatever they're called these days..."
Me: "So, I just send those off too then?"
Her: "Yes."
Me: "You want me to pop the bound copies of my company's most important documentation in the post somewhere?"
Her: "Yes...No. I'll photocopy them."
Me: "So, does the company secretary have to fill in the application form then? The person is a relation who lives away and I'd have get the forms to them."
Her: "Yes. The company secretary needs to sign them, and have their identity checked in the branch".
Me: "But they live miles away. Can't they go to their local branch and bring proof of ID there"
Her: "Of course."

I check the forms.

Me: "The form just wants the company secretary's signature. No mention of proof of ID."
Her: "Oh...ok. Just pop the forms off then."

I walk out. A true story.

Can anyone recommend another of the big banks for an account? (Apart from HSBC. I am not dealing with another Indian call centre if I can help it, especially for business.)

[ladymuck]

I doubt you'll want to deal with them again but phone them up (the number's on the website) and you should get through to a competent person (I did, anyway). I looked at the app form you can download and there is no mention of having the co sec signing it, it's the same one I filled in last year and I got the account without it. You have to list all directors but I'm guessing your co sec is not a director?

Charges wise, there are none as long as you stay within their transaction limits - details are on the website. If you go overdrawn without an overdraft you get stung £32 plus £15 for each item paid/bounced while you are in the red. Interest is paid on both current and savings accounts while in credit, can't remember the rate.

No, I don't work for Abbey!

Oh and I agree about the branches, they are generally useless in there and have no business banking facilities in them as far as I can tell.

[Mustang]

I currently bank with Barclays and have made use of the PCG scheme they set up.