Good bank to switch company account to ?

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swebb replied

2 February 2009, 08:46
Originally posted by max View Post

check out standard life bank

3.7% intro rate last time I looked

Thanks for the info I'll look into it but the thing that puts me off standard life is the recent news about there ultra safe pension cash fund which I very nearly jumped into recently. Luckily I didn't but it shows you can't trust any of these people !

http://news.bbc.co.uk/1/hi/business/7860390.stm

Thanks

Steve
Leave a comment:
turbo replied

31 January 2009, 16:57
Originally posted by FiveTimes View Post

A fellow contractor has been told by his accountant that he can do a little bit of paper work and transfer a whole chunk of cash from ltd -> pers account. The paper work just needs to say "Holding money for myco..."

Anyone else done this ?

Hmm... sounds dodgy to me...
Leave a comment:
turbo replied

31 January 2009, 16:56
Originally posted by xpscapable View Post

The low interest rate is there for a reason Remember Ice Save and Kaupthing Edge?

Well, as long as you don't put more than 50k into an account, small businesses are covered by the FSCS scheme.
Leave a comment:
FiveTimes replied

31 January 2009, 09:45
A fellow contractor has been told by his accountant that he can do a little bit of paper work and transfer a whole chunk of cash from ltd -> pers account. The paper work just needs to say "Holding money for myco..."

Anyone else done this ?
Leave a comment:
Sockpuppet replied

31 January 2009, 09:02
Originally posted by dude69 View Post

Hmm, I'm not sure I get your logic. When base rates were not on 'Gordon Brown has bust the economy' levels, you could have earned an extra 2% or so by switching accounts. Now that they are near-zero, there's much less extra money to be made.

It's less worthwhile switching accounts than it was before.

As Tesco say. "Every little helps"
Leave a comment:
dude69 replied

31 January 2009, 02:40
Originally posted by swebb View Post

Hi,

My company uptil now has used Cater Allen for the company bank account but recently like other banks the interest rates have fallen to such a low level that I am considering switch accounts if I can find another bank who is more competitive. I don't really mind paying a little for the account (cater is free) if the interest rate is good.

Hmm, I'm not sure I get your logic. When base rates were not on 'Gordon Brown has bust the economy' levels, you could have earned an extra 2% or so by switching accounts. Now that they are near-zero, there's much less extra money to be made.

It's less worthwhile switching accounts than it was before.
Leave a comment:
xpscapable replied

31 January 2009, 01:37
The low interest rate is there for a reason Remember Ice Save and Kaupthing Edge?

Having said that, I do agree that Cater Allen now is a bit less competitive that others, but you still can get 3 months term deposit at 1.97%
Leave a comment:
turbo replied

30 January 2009, 23:46
Originally posted by max View Post

check out standard life bank

3.7% intro rate last time I looked

Thanks for the info - its 3.4% on the fixed rate bond.... much better than the 0.5% I'm getting from Cater Allen!
Leave a comment:
max replied

30 January 2009, 22:54
Originally posted by Fred Bloggs View Post

You might be a long time looking. I got a letter today saying the rate on my co account is now 0.08%.

Oh Please....maybe a long time if he uses your bank! maybe not others
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max replied

30 January 2009, 22:52
Originally posted by swebb View Post

Hi,

My company uptil now has used Cater Allen for the company bank account but recently like other banks the interest rates have fallen to such a low level that I am considering switch accounts if I can find another bank who is more competitive. I don't really mind paying a little for the account (cater is free) if the interest rate is good.

I've had a look around on the web today and not really found much has anyone else found accounts worth looking into ?

Thanks

Steve

check out standard life bank

3.7% intro rate last time I looked
Leave a comment:
Fred Bloggs replied

30 January 2009, 19:33
You might be a long time looking. I got a letter today saying the rate on my co account is now 0.08%.
Leave a comment:
swebb started a topic Good bank to switch company account to ?

30 January 2009, 18:20
Good bank to switch company account to ?

Hi,

My company uptil now has used Cater Allen for the company bank account but recently like other banks the interest rates have fallen to such a low level that I am considering switch accounts if I can find another bank who is more competitive. I don't really mind paying a little for the account (cater is free) if the interest rate is good.

I've had a look around on the web today and not really found much has anyone else found accounts worth looking into ?

Thanks

Steve
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