Certification of Incorporation

[GillsMan]

I compared the services of 5 major business accounts when deciding who to go with. Abbey didn't even figure due to negative experiences with them for personal banking. I think Barclays were my number one choice with Lloyds as my second, based on what their accounts offered both in terms of value and in terms of products.

In the end, however, I went with HSBC. Of the four banks I visited that Saturday morning, HSBC were the only bank to have a business banking specialist working on a Saturday. All the others (Barclays, Lloyds and one other who I've forgotten) only provided business banking specialists on Monday-Friday. Which is fine if you don't work, but as I work Monday to Friday, it's not exactly convenient, and I didn't want to set up over the phone or via the Internet.

I was impressed with the customer service at HSBC and am pleased with the set up so far.

[escapeUK]

Can you expand on what they didn't understand?

Yes. I applied online, on a form that asked for trading address and clearly said "This might be your home address" Which of course for all contractors it is.

2 weeks later. (Everything took a week at least)

I had an automated e-mail that you couldnt reply to. Asking for proof of my trading address. It said this could be in the form of an official letter, some professionally produced marketing material (for instance brochure, letterhead etc) or a letter from my accountant.

So I rung up my accountant, and they said, oh we have sent out your first months invoice (which I had got) send them that. So not to waste any time, I rung up Abbey business line, told them what my accountant had suggested and they said, yes that would be fine. They also commented that my website didnt have my address on it either. Why would it? No one is going to come to my home for my services. I said, I could put any address on that website under the sun, it would mean nothing.

A week later. I get an automated e-mailing saying that my proof has been rejected, and that this proof could be in the form of an official letter, some professionally produced marketing material (for instance brochure, letterhead etc) or a letter from my accountant.

So I rings up again, and spoke to some lad on the Abbey business line. Who said they just needed something official, as it happened I just had my vat number come through from HMRC. I suggested sending him a copy of that.

"Oh yes, it doesnt come much more official than that does it?" He exclaimed. So off I sent it.

One week later, I gets an automated e-mailing saying my proof was rejected.

At this point, we are now a month of trading, no bank account. Remember I am trying to prove something that doesnt matter, I am not a butchers with premises, I am a contractor my trading address is my home.

So finally, I tell my accountant to write a letter confirming who I am. A week later, I ring up. We are looking at faxs / e-mails rec'd on Monday last week. You sent yours on Wednesday so hopefully we will be looking at yours in the next 2 days.

Two days later, "We are looking at faxs / e-mails rec'd on Monday last week"

At this point we are 5 weeks trying to open a simple account for someone who has a perfect credit history, and now cant get paid because there is no where for his client to pay money into.

A ring Natwest up, the person who answers their new business line tells me she will be my account manager (for opening the account) and here is her e-mail, here is her direct line number. She opens me an account the same day, I have the number and sort code 9am the next day.

Now obviously if Abbey/Santander really understood what a contractor was and how they work, they wouldnt have wasted all my time trying to get me to prove something that really didnt matter.

Though to be honest, I think they are just seriously incompetent. 2 weeks to start looking at a new account application? A week to reply to a letter? No e-mail address? Never speak to the same person twice? No thanks.

If they cant handle getting new business in a professional way, what can their day to day service be like?

[jmo21]

Well you have been very lucky then. I wouldnt trust them with a penny after the gross incompetence they showed me just trying to open an account.

They do not understand contractors.

Can you expand on what they didn't understand?

[escapeUK]

Cater Allen are also Santander. I'm with Santander (was Abbey) and they've been fine, expect for one hiccup which was sorted with a phonecall.

Well you have been very lucky then. I wouldnt trust them with a penny after the gross incompetence they showed me just trying to open an account.

They do not understand contractors.

[SueEllen]

Cater Allen are also Santander. I'm with Santander (was Abbey) and they've been fine, expect for one hiccup which was sorted with a phonecall.

No one has complained about Carter Allen. However I've heard personally complaints from Santander (Abbey) business customers.

[mudskipper]

Avoid Abbey/ Santander like the plague. They are constantly underfire in the media for their terrible service.

Santander 'worst bank for customer service' - MoneySavingExpert News

Cater Allen are also Santander. I'm with Santander (was Abbey) and they've been fine, expect for one hiccup which was sorted with a phonecall.

[escapeUK]

Check out Cater Allen or Abbey/Santander, they seem to get mentioned a bit around here.

Avoid Abbey/ Santander like the plague. They are constantly underfire in the media for their terrible service.

Santander 'worst bank for customer service' - MoneySavingExpert News

[Contractor UK]

Yep you don't need the certificate with Cater Allen as they just check your details against Co House. Free banking (very popular at the moment) with Cater Allen is available through CUK Free business bank account :: Contractor UK

As someone else has pointed out the card isn't available until you've been incorporated 6 months, plus you will then need the average balance of £5k in your account. Without the card you just need to remain in credit to be 'charge free'. We get lots of good feedback about their customer service.

[Darren@UptonAccountants]

Bank Accounts

Most tend to be ok, especially Cater Allen when going through an introducer. As Clippy says, they check online.....they will do a search at Companies House to check the directors/shareholders. Sometimes they'll require a quick reference from your accountant or formation company if the shareholder info isn't shown on record.

[Clippy]

I'm with HSBC who have been good but my banking with them has been straightforward.

Everything was up and running very quickly and, IIRC, they looked up my Ltd's details on line/via some system.

[pmeswani]

Uh, probably because he hasn't tried to open the bank account yet and is also asking for a recommendation?

I think it's much of a muchness which bank you use. I've used Barclays and they were OK. I guess you are looking for a bank with decent online banking, a Visa debit or credit card (check out if you get one straight off or you have to wait X months before you qualify) and no bank charges. You will be lucky to find a bank that pays any sort of interest on your companies money at the moment.

Check out Cater Allen or Abbey/Santander, they seem to get mentioned a bit around here.

I don't think you will need your original certificate - they can just look you up in Companies house...

Surely each bank may have different methods of accepting documents... Shirely.

[Wanderer]

I am about to open a private limited company

It appears easy enough, to start a company but there are a load of traps for first timers.

As I said to someone yesterday, you should seriously consider kickstarting things by joining the PCG. These guys will sort you out with a company, bank account, accountancy and insurance package and a whole load of good advice to get you up and running.

[Wanderer]

Why don't you ask the bank that question?

Uh, probably because he hasn't tried to open the bank account yet and is also asking for a recommendation?

I think it's much of a muchness which bank you use. I've used Barclays and they were OK. I guess you are looking for a bank with decent online banking, a Visa debit or credit card (check out if you get one straight off or you have to wait X months before you qualify) and no bank charges. You will be lucky to find a bank that pays any sort of interest on your companies money at the moment.

Check out Cater Allen or Abbey/Santander, they seem to get mentioned a bit around here.

I don't think you will need your original certificate - they can just look you up in Companies house...

[pmeswani]

I am about to open a private limited company. My question is do I need a hard copy of the certificate of incorporation for opening a business bank account? or Can i print the electronic version and sign it?

I also need a recommendation for the business bank account.

Why don't you ask the bank that question?

[vikasgupta]

I am about to open a private limited company. My question is do I need a hard copy of the certificate of incorporation for opening a business bank account? or Can i print the electronic version and sign it?

I also need a recommendation for the business bank account.