Anyone using A&L accounts?

[Thom77]

Just looking to set up business accounts and Alliance&Leicester looks attractive - free, good intrest rates on their deposit account and I wont have many transactions so shouldnt be difficult to manage. I have my personal current account with them at the moment, is there any benefit to having a business account with the same bank? (I know electronic money transfer between accounts of the same bank *can* be faster, dont know if this is always the case though?). Oh, and their application form looks quite simple too

[Hex]

I've got their business deposit account and also their personal current account. When using phone banking the transfer goes between these in one day. Using their on-line banking for the business account is a bit weird as you specify when you want the payment to arrive at the source account rather than when you want it to leave the business account. It won't let you enter a date any nearer than 3 days away, so you can't make use of the same day transfer on-line.

Anyway, we've not had a problem with the service. It seems fine. My business current account is with a different bank, but I hardly use it now anyway. The A&L deposit account has a sort code and account number attached so I have all my invoices paid into it via BACS.

[Thom77]

ah thats intersting - so theres no real need for the bus current account in that case (probably best to have one anyway tho seeing as it is free). Glad you have not had any problems with them

[Pondlife]

ah thats intersting - so theres no real need for the bus current account in that case (probably best to have one anyway tho seeing as it is free). Glad you have not had any problems with them

Eh? Is that right? If you're a Ltd Co you can't pay the invoices into your own personal account direct as it's not your money, it's the companies!

[Hex]

Eh? Is that right? If you're a Ltd Co you can't pay the invoices into your own personal account direct as it's not your money, it's the companies!

Absolutely right. But we're talking about a business deposit account in the name of the company not a personal account. Anyway, it is still best to have a current account as well in order to pay standing orders, cheques etc.

[ASB]

ah thats intersting - so theres no real need for the bus current account in that case (probably best to have one anyway tho seeing as it is free). Glad you have not had any problems with them

You might want to look at abbey as well. We had a current account and latterly a deposit account. The deposit account is fully acessible by online banking and I think you can even get a cheque book. Might enable you to kill two birds with 1 stone.

[Pondlife]

Absolutely right. But we're talking about a business deposit account in the name of the company not a personal account. Anyway, it is still best to have a current account as well in order to pay standing orders, cheques etc.

Okay, basically you're using the deposit account as a current account.

[yetanotherone]

I use them. They lost my original account app despite having registered it as received. They have been a lot of trouble so far and their web banking is so out of date, I don't even use it anymore as the phone is quicker. I'm lookling to change soon. I'd rather pay £80 a year and get a decent service.