Reply to: Pay for a Business Bank Account ?

[2uk]

I have just signed up with Barclays via the PCG membership scheme and it is free banking for 12 months and 3 months there after. It also gives a standard rate of around 3.4 % for all excessive balances (the other free banks have tiered rates starting from 1.8 % depending on the balance).

I think this is the best deal.. see pcg website for details

My account was set up in 10 days - complete with a debit card, telephone banking and internet banking passwords and cheque book... may be i have been plain lucky

You set up what Barclays call a Personal account , I guess. Did you mention the account was for a Ltd ? Well I did and they told me 15 P/MONTH.

I guess I will set another free personal account with them.

[srennocks]

I have just signed up with Barclays via the PCG membership scheme and it is free banking for 12 months and 3 months there after. It also gives a standard rate of around 3.4 % for all excessive balances (the other free banks have tiered rates starting from 1.8 % depending on the balance).

I think this is the best deal.. see pcg website for details

My account was set up in 10 days - complete with a debit card, telephone banking and internet banking passwords and cheque book... may be i have been plain lucky

Depends what you're looking for, but personally I'm with Cater Allen (as is large proportion of contractors I've met over the years), the reasons being great rates of interest, free banking (providing you keep the no.of transactions down) and exemplary levels of service...never once let me down, or caused me to ever so slightly disappointed in them in nearly 10 years

[vyas]

I have just signed up with Barclays via the PCG membership scheme and it is free banking for 12 months and 3 months there after. It also gives a standard rate of around 3.4 % for all excessive balances (the other free banks have tiered rates starting from 1.8 % depending on the balance).

I think this is the best deal.. see pcg website for details

My account was set up in 10 days - complete with a debit card, telephone banking and internet banking passwords and cheque book... may be i have been plain lucky

[Lockhouse]

I've been with Natwest for ages but have just switched to Cater Allen as I was paying around £30 per month in bank charges. Should have done it sooner.

[2uk]

Also , it makes sense your personal and biz accounts to be with the same bank to save on transaction fees , right ?

[BOBJ]

What trick did you use to turn free period form 1 yr to 5 yrs ?? Maybe I can employ the same trick and get HSBC to give me free banking year after year !! !

Good point! Lets see, I set my account up, started contracting....paid money in and out, err just kept a low profile really. It might be worth your while, but don't come crying to me in 18 months time if they hit you with some charges

[lilelvis2000]

Abbey, and HBOS offer free banking with some terms and conditions. RBS offers free banking for one year, and they have good service - at least my branch does. Even after the free year its £10/mnth - which is bearable.

Barclays is a terrible bank, they are constantly trying to sell you insurance or upgrading your account. I watched the whistleblower a couple of weeks back - scared the hell outta me what goes on and how out of touch the execs are with what it going on on the ground. stay away.

[PAG]

Use Nat West, the service is fine and the 12 months free banking has turned in to 5 years! They keep on writing to me to say, now we really are going to start charging you soon, but they can't deliver on their promise

What trick did you use to turn free period form 1 yr to 5 yrs ?? Maybe I can employ the same trick and get HSBC to give me free banking year after year !! !

[BOBJ]

Use Nat West, the service is fine and the 12 months free banking has turned in to 5 years! They keep on writing to me to say, now we really are going to start charging you soon, but they can't deliver on their promise

[PAG]

I have A/c with HSBC and I can vouch for them. Their Bus a/c facility is free for 18 months and thereafter £3 monthly fee. They rock.

[Kyajae]

HSBC roCK!

HSBC sucks!

[Darren@UptonAccountants]

Bank Accounts

Have to agree with Mal, CA's service is very good....just can't wait until the online system is up & running.

[malvolio]

I saw the Carter Allen free option , but couldn't find internet banking on their site which I see as a bottom line these days..

It's been vapourware for a long time, although I hear a rumour someone is now beta-testing it so it should be on its way. However I agree, I can't run without internet banking, now matter how good the telephone support (and CA's is very good indeed)

[2uk]

I saw the Carter Allen free option , but couldn't find internet banking on their site which I see as a bottom line these days..

[Maxamus]

HSBC roCK!