limited company - carter allen or barclays?

[Smartie]

Barclays have a very good mobile app.

[gables]

I went with the bank (RBS) I was already with personally, had a meeting with the fella there basically to confirm what they already knew, the account was setup in a couple of days iirc. To be honest it was so quick. The other advantage is transferring money, as the business balance decreases the personal balance increases

[northernladuk]

Isn't the fact he is planning to keep his tax money separate a demonstration of good of money management?

Not really. Havingnto separate it because he can't manage it in a single place is like money managing for 10 year olds. He should be able to handle them in the same account. It's not rocket science.

[Bozwell]

thanks guys, what do you think about having 2 accounts, one with CA just for the tax/vat I need to pay and the other with barclays which would be my main one where I don't have to worry about cutting into the tax mans money. Is this a good move or would it be better to just stick to 1 account or perhaps open a 2 accounts with Barclays and move the money in there at the end of each month?

I put my tax money into a business savings account (Aldermore) along with any other money I don't need to move around imminently as it is going to sit there for quite some time and I might as well make a bit of interest on it.

I think if you can't manage the company's money better than that you shouldn't be allowed to be a director.

Isn't the fact he is planning to keep his tax money separate a demonstration of good of money management?

[thelastrosbif]

saw some guy at work faffing around trying to send a Fax to cater allen

A FAX !

Go with your local bank, Lloyds do me fine, all online, same day service (Y)

[Underbase]

I have both personal and business accounts with Barclays. Took about 48 hours after going into the bank to talk to them. On the app I have a toggle to go from business to personal and same on the website. I can log in with any of my csrds so it's brilliant.

[VectraMan]

I have both with Barclays. Should be simpler to set up as they know you, and payments to yourself are instant. My phone app is only linked to my personal accounts though; not sure if it's possible to have both. I have two different logins for online banking.

thanks guys, what do you think about having 2 accounts, one with CA just for the tax/vat I need to pay and the other with barclays which would be my main one where I don't have to worry about cutting into the tax mans money. Is this a good move or would it be better to just stick to 1 account or perhaps open a 2 accounts with Barclays and move the money in there at the end of each month?

I think if you can't manage the company's money better than that you shouldn't be allowed to be a director.

Barclays will probably give you a current and deposit account; they did for me. So you can at least get a tiny bit of interest on whatever money you keep in the company.

[PerfectStorm]

Surely at any one time your tax money, income and profits should vastly outweigh your expenses anyway?

[cinek]

thanks guys, what do you think about having 2 accounts, one with CA just for the tax/vat I need to pay and the other with barclays which would be my main one where I don't have to worry about cutting into the tax mans money. Is this a good move or would it be better to just stick to 1 account or perhaps open a 2 accounts with Barclays and move the money in there at the end of each month?

[Bozwell]

If your primary concern is FREE then Cater Allen otherwise pretty much any other Business account will be better. I am a Cater Allen customer currently but I find the VERY basic interface a major drawback. That said as a bank account it does the job. I'll probably move to anther back soon unless they improve things.

[MrMarkyMark]

if you're already with barclays definitely go with barclays

CA doesn't have a mobile app (yet, there's one coming, aparently)
CA transfers take 1 business day ALWAYS (barclays will be as quick as transfering between your savings and current account)

Agreed, if you already have an account with Barclays it should be much easier to set up.

[pr1]

if you're already with barclays definitely go with barclays

CA doesn't have a mobile app (yet, there's one coming, aparently)
CA transfers take 1 business day ALWAYS (barclays will be as quick as transfering between your savings and current account)

[Michael at BI Accountancy]

The general consensus when it comes to CA is that "it does the job" however they are behind the times. I would always suggest that clients have a look at the bank which they use personally (if they already receive a good service), therefore I would say that you are right in looking at Barclays. As you say the monthly fees after the free period are not likely to break the bank!

From an accounting point on view, what bank a client chooses really has no impact what so ever on the service they can offer. (only that they do not get a referral fee!).

[cinek]

InTouch accounting are happy to register my company and set up a bank account with carter allen however I was always planning on going with barclays as I already have a personal account with them and also due to their mobile apps & online portal (I've seen HSBC and it's about 10 years old not to mention their business app). From what I've read on here CA will be free however barclays will cost around £6 after 12 months but that's not an issue for me. Are there any other benefits when going with CA?