HSBC rates

[d000hg]

I'd totally forgotten that HSBC announced price increases until I was querying an £8 charge on my business account. Prior to that I was paying £6.50 but I noticed my wife's HSBC business account is only paying £5.50. I think that might be a introductory price only for the first couple of years but just to check they didn't shift me to some other account... is £8 what y'all are paying now too?

[eek]

I'd totally forgotten that HSBC announced price increases until I was querying an £8 charge on my business account. Prior to that I was paying £6.50 but I noticed my wife's HSBC business account is only paying £5.50. I think that might be a introductory price only for the first couple of years but just to check they didn't shift me to some other account... is £8 what y'all are paying now too?

Checks my Starling and Tide accounts - nope....

[zonkkk]

Yes, £8 for me too... what's a good bank to switch to?

[jamesbrown]

Yes, £8 for me too... what's a good bank to switch to?

Starling.

[northernladuk]

7.50 for santander but it's been pretty faultess in the 12 odd years I've been with them so won't be swapping to save that. Not even 7.50 out of my pocket either so even better.

[d000hg]

I don't really care for the sake of £8 though it's a fairly large jump.
I actually have 2 business current accounts, the other with Santander which is and always has been fee-free. I'm not quite sure how I've managed that but I transitioned to HSBC several years ago so it sits there with a grand or so doing nothing.

I had a brief look at Starling when Mrs d000hg started her business but isn't that one where it's 100% app based, and does all kinds of other bells and whistles? I can imagine it's great for a tradesman but something put us off, so she also went HSBC as being boring but easy. Made getting the BBL easy too

[jamesbrown]

I had a brief look at Starling when Mrs d000hg started her business but isn't that one where it's 100% app based, and does all kinds of other bells and whistles? I can imagine it's great for a tradesman but something put us off, so she also went HSBC as being boring but easy. Made getting the BBL easy too

It is largely app-based, yes, but you can login from a browser if you prefer (once you approve via your phone). No particular bells and whistles that I can think of, other than seamless integration with accounting software (by pushing, which is nice).

[fatJock]

Business current account with Starling (used to be with HSBC and no regrets moving). As others have said - no monthly costs for people fitting our typical transactions.

Savings account with Aldermore for what it’s worth.

[d000hg]

Maybe it's time to look again then. I previously worked with overseas clients and hired my own subs so HSBC were great for USD accounts, wiring money to Romania, etc, but I feel that phase of life might be over; a nascent business that dried up.

[jamesbrown]

I started off in a similar way with Cater Allen (for their USD account), and I still use them, but not for foreign currency accounts or conversions; there was a time when you could game CA with conversions and get better than spot because they set the rate once per day and the margin was relatively small, but they realised at some point. Anyway, now I use Wise for all foreign currency transactions and would never go back.