HSBC to introduce monthly fee for their Business Direct account

[Clippy]

Got a letter from HSBC last week advising, amongst other things, the following:

- The name of your tariff will be changing from Business Direct to Electronic Banking Tariff
- We are introducing a monthly account maintenance fee of £5.50

The changes will be from 1 September 2013.

So, am on the look out for recommendations for decent fee-free business bank accounts.

When I say fee-free, I don't mean a time limited period but for the foreseeable future.

Ta.

[jmo21]

Cater Allen, free if you have a balance of £5000 or more

[northernladuk]

Santander?

[SueEllen]

Santander?

Their website doesn't say they are free for switchers.

The only free accounts I know are:
1. Cater Allen
2. RBS - though they will be sold at some point in the not distance future

[kingcook]

http://forums.contractoruk.com/gener...per-month.html

[Nixon Williams]

Cater Allen, free if you have a balance of £5000 or more

If a Cater Allen account is opened via ourselves the fee is waived, so there is no minimum balance required.

Anyone with a HSBC account can contact us and we can set up a new account for you.

[Clare@InTouch]

Just to add - the £5,000 minimum balance appears to be waived if you go through any introducer, so most contractor accountants can probably help you swap over

[Old Greg]

Cater Allen still do not offer a same day FPS transfer. Not sure how they get away with it as I thought it was an EU requirement.

[malvolio]

Got a letter from HSBC last week advising, amongst other things, the following:

- The name of your tariff will be changing from Business Direct to Electronic Banking Tariff
- We are introducing a monthly account maintenance fee of £5.50

The changes will be from 1 September 2013.

So, am on the look out for recommendations for decent fee-free business bank accounts.

When I say fee-free, I don't mean a time limited period but for the foreseeable future.

Ta.

I note the usual myopic confusion between price and value...

I've been with HSBC since day 1 - quite a long time now. Their service has been uniformly accurate, invisible and efficient. They have never made a mistake, fees and interest balance each other out, the one problem I had (in 2003) was fixed in a single phone call that ended up with a techncally competent lady in Singapore. They offer all the necessary services including a damned good internet service (I only ever visit a branch to pay in the odd refund cheque).

So before you switch, make sure the new guy is as good as HSBC across the board.

[Danielsjdaccountancy]

Grass is always greener......

If it is tempting then we too can help on the Carter Allen front, so all their fees are waived.