Reply to: Start Up Business Bank Accounts

[Alan @ BroomeAffinity]

I chased Natwest for weeks about mine. They ignored my online query and I ended up going to a branch direct. Not good service from that point of view, but the system itself works well and I can send dividends, salary and expenses instantly from my iPhone app.

RBS will be the same in a blue wrapper.

I use RBS for my business and the UI is very good as is the app. Getting the account opened in the first place is a pita though.

[SueEllen]

I would suggest make a bundle of personal ID and company stuff, then go into each bank in a reasonably sized town in the morning and see which one offers to help you set up a business bank account that day.

I heard horror stories from various contractors so did that. I ended up joining HSBC. Though I had to write a "business plan" in the branch.

[PerfectStorm]

I chased Natwest for weeks about mine. They ignored my online query and I ended up going to a branch direct. Not good service from that point of view, but the system itself works well and I can send dividends, salary and expenses instantly from my iPhone app.

RBS will be the same in a blue wrapper.

[saptastic]

They don't have any branches do they? Cater Allen Private Bank?

No they dont. I have CA and you pay in via RBS or post if required.

I think most other banks insist on a face to face prior to business bank opening for KYC purposes via their branches - but CA cant do this.

[Eirikur]

They don't have any branches do they? Cater Allen Private Bank?

No I don't think so

[stek]

+2 Cater Allen

Never had any issue, never had the need to go into a branch as I do all my banking on line. The only time ever I had to call them in the past 5 years, my query was handled professionally and quick.

There have been some posts on here though that they were closing down some ltd co accounts for no clear reasons.

They don't have any branches do they? Cater Allen Private Bank?

[Eirikur]

+1 Cater Allen

+2 Cater Allen

Never had any issue, never had the need to go into a branch as I do all my banking on line. The only time ever I had to call them in the past 5 years, my query was handled professionally and quick.

There have been some posts on here though that they were closing down some ltd co accounts for no clear reasons.

[CloudWalker]

Cater Allen

+1 Cater Allen

[TheFaQQer]

Hmm.. Interesting. Am with Santander now and have to say I'm very happy with them but will keep that in mind. Thanks.

But you're going to pay £175 a year to join the FSB to get that free banking (which isn't listed in the members benefits section any more).

Unless you were already a member of the FSB, it seems a false economy to me - and I can't really see much benefit in a one man contractor joining the FSB.

[northernladuk]

Its not as if you are investing in them or asking them to manage a share portfolio. Its on line banking. Its free while you're an FSB member and you get a small loyalty bonus. It suits me.

I can understand people make their own judgement but I dont see anything thats an issue, personally.

Hmm.. Interesting. Am with Santander now and have to say I'm very happy with them but will keep that in mind. Thanks.

[BolshieBastard]

Agreed but with the offerings between the others being fairly close the fact they failed this hints to me it's not being run very well so on that basis it's out. Might not be a criteria to others and my not directly impact my account but it just doesn't sit right.

Its not as if you are investing in them or asking them to manage a share portfolio. Its on line banking. Its free while you're an FSB member and you get a small loyalty bonus. It suits me.

I can understand people make their own judgement but I dont see anything thats an issue, personally.

[northernladuk]

Hey Im not here to advertise the Co Op Bank. I think they did but I dont see it as an issue. You're still covered for 85g's worth of cash in the account so dont follow that mentality to be honest.

Seems people are prepared to put up with poor service from other banks and pay charges or be told they have free banking that gets renaged on or have to keep £x,xxx in their account to have it.

Each to their own. The Co Op UI is crap though as I said!

Agreed but with the offerings between the others being fairly close the fact they failed this hints to me it's not being run very well so on that basis it's out. Might not be a criteria to others and my not directly impact my account but it just doesn't sit right.

[BolshieBastard]

Aren't the Coop the only bank that failed the stress test. They are covered as the rest are but that's still enough to write them off to me.

Hey Im not here to advertise the Co Op Bank. I think they did but I dont see it as an issue. You're still covered for 85g's worth of cash in the account so dont follow that mentality to be honest.

Seems people are prepared to put up with poor service from other banks and pay charges or be told they have free banking that gets renaged on or have to keep £x,xxx in their account to have it.

Each to their own. The Co Op UI is crap though as I said!

[northernladuk]

Aren't the Coop the only bank that failed the stress test. They are covered as the rest are but that's still enough to write them off to me.

[TheFaQQer]

@FaQQer with HSBC and fees, I believe the argument was they'd never promised the account would be free forever, but at the point I signed up with what I'd expect to be normal usage by us there wouldn't be a charge. They then introduced a flat levy on the account. I know a few people grumbled about it (including myself) but I guess there wasn't enough outrage for them to back down. We moved banks.

Ah - Santander promised no fees for life, and then got caught when they tried to introduce fees.

Apparently, I can get "benefits" for paying for an account now (possibly slightly higher than the 0% interest they currently pay me) but it's not worth the cost.