Choosing a business bank account

[SueEllen]

Its only free if it actually works and you actually get it.

In my experience all banks and building societies are like that.

Some banks/building societies just employ more stupid employees than others.

BTW Due to having personal difficulties with Natwest I would never trust my business banking to them.

[escapeUK]

Abbey aka Santander are the worst bank I have ever had anything to do with. Its only free if it actually works and you actually get it. 5 Weeks trying to get an account, I have perfect credit history. They would send out irrational e-mails that you couldnt reply to, only ring up, claiming that they didnt believe my trading address.

"Trading Address: We can not accept the document you provided for confirmation of trading address."

The most annoying thing was that the retards on the phone would say one thing,for instance that my VAT certificate would be perfect proof as "It doesnt get more official than that does it" to find this was rejected a week later.

What's next?

(6) Trading Address: We require further confirmation of your business trading address. Please provide either a copy of your business' standard letterhead, a utility bill or bank statement addressed to your company, a letter from your solicitor/accountant or professionally produced marketing materials for your company. Either document should clearly state your business trading address as it appears on your application form. Please note that we are unable to accept utility bills or bank statements that have been printed from the Internet.

Lets remember that as contractors we dont actually have a trading address other than our homes, we arent butchers who have a place where customers will visit. I had already sent council tax bill and elecy bill to prove this was my real home. So I spent 5 weeks trying to prove something that didnt really matter, to people who were stupid.

Even the letter from my accountant wasnt good enough. So on Monday of week 5 I rang Natwest and I had an account set up the same day, by a real person who had the authority to approve the account and set it up.

Santander is a bit like Linux, its only free if your time is free, assuming you ever get it to work of course. Also surprised so many people are endorsing them, especially as they were found to be the top of the complaints league.

http://www.guardian.co.uk/money/2011...ins-worst-bank

[VectraMan]

I have both my personal and business account with Barclays, and that does have the advantage that transferring money is an instant electronic transaction, rather than the medieval ox-cart method that still seem to prevail when transferring money between different banks (I can't think of any other explanation for it taking 3 days).

My suggestion would be to do whatever's the most convenient, and forget about the largely insignificant differences between the banks.

[strawberrysmoothie]

I've been with santander for about 5 years. No problems and I've always found them very helpful about transfering money between accounts and it's always been been done instantaneously over the phone. However I do agree eith earlier commentors, getting the papers is a pain. But after that happy days

[Wodewick]

One possibility: Cater Allen

Who are also part of Santander - Shirley?

[Contractor UK]

FREE banking is good

One possibility: Cater Allen

[FiveTimes]

I was with Alliance and Leicester, now Santander. The online facility is ok, not great.

I thought about changing but can't be bothered.

[Alan @ BroomeAffinity]

Santander seem to be well liked among my clients but the majority seem to prefer the simplicity of using the bank they have their personal accounts with. It certainly makes the account opening process easier. I've never seen an IT contractor with charges in excess of £5 per month so shopping around is probably a false economy and if you badger the manager hard enough, he'll probably give you free banking for a couple of years anyway.

[xoggoth]

They are a bit slow to get paperwork out, new cheque books etc and as FB says the website is quite not so slick as some others, but otherwise I have always found Santander very good. No regular charges.

[Fred Bloggs]

Santander is OK. The account is completely free to operate and though the web interface is a little clunky it does work OK and it is fairly reliable.

[craig1]

It depends what else you do as there are offers out there. For example, I am a member of the FSB (Federation of Small Businesses) and that gives me preferential banking at the Co-op, completely free banking and a £25 annual bonus.

[SueEllen]

My business bank account is with Santander.

My 1st choice was HSBC, but they turned me down because of my credit score apparently (no debts, clean credit file, etc etc)

Probably because you were another IT contractor more likely.

Some banks do turn people/businesses down if others have screwed up who bank with them.

[kingcook]

My business bank account is with Santander.

My 1st choice was HSBC, but they turned me down because of my credit score apparently (no debts, clean credit file, etc etc)

Santander opened my account with days (i applied online).

Shop around for a bank account that suits you. FREE banking is good

[mudskipper]

I have to set up a business account for my new contracting role and am after a bit of advice from someone if possible.

My current account is with Santander and this is the account that I will be paying wages into via my business bank account. Does it make more sense to get a business bank account with Santander or is it wise to get a business bank account with a different bank altogether?

Having never done this before I am pretty much clueless when the banks all seem to offer the same services.

Any help would be appreciated.

I don't see why it would matter.

One advantage of going with Santander is that you can probably set up the account instantly over the phone if you're an existing customer. They told me I was "electronically verifiable".

[boxingbantz]

I have to set up a business account for my new contracting role and am after a bit of advice from someone if possible.

My current account is with Santander and this is the account that I will be paying wages into via my business bank account. Does it make more sense to get a business bank account with Santander or is it wise to get a business bank account with a different bank altogether?

Having never done this before I am pretty much clueless when the banks all seem to offer the same services.

Any help would be appreciated.