Reply to: Problem with opening business bank account

[blacjac]

their internet banking isn't the best (I mean it's fine, but I'm not a massive fan of the layout).

Does feel like something that was knocked up in the mid nineties by a YTS bod, and hasn't been changed since...

Does the job though

[GillsMan]

I remember when I opened a business bank account in Crawley for MyCo Ltd. I went to my first, second, and third choices and all of them I was told that I couldn't open an account as it was a Saturday, and only the Business Account Manager could open the account and he doesn't work Saturdays.

Given that I work Mon-Fri this struck me as particularly inconvenient. I then tried a couple of other banks before I got to HSBC who were able to accomodate.

I've been fairly happy with their service since. Their telephone banking is great, their internet banking isn't the best (I mean it's fine, but I'm not a massive fan of the layout).

[blacjac]

I met with the local HSBC new business manager on Saturday morning and received my account number and sort code within 30 minutes - very impressed!

Same experience here for the 2 business accounts I have opened with HSBC, both were done in branch (different branches) and on both occasions I was given the sort code & account number there and then and the accounts were opened before I got home.

[fabs35]

I met with the local HSBC new business manager on Saturday morning and received my account number and sort code within 30 minutes - very impressed!

[Clare@InTouch]

Not sure i like the sound of this. I would prefer to have full control of the money (i'm assuming that the accountant would have someform of control of the account?)

This is quite common - we have view only access to some accounts as it means we don't need to keep asking you for copies of statements. It just means less work for us and the client.

With the MSC legislation I'd hope no accountant has access to actually do anything with a client's bank account.

[kingcook]

They have view only access, they have no control over it what so ever.

If you're happy with that, all good. Not entirely sure if i would be personally (still, i guess they'd see your monthly statements anyway)

[escapeUK]

Natwest are great! I opened my account in the morning by filling in a few forms and e-mailing them, I had the account number the same day.

Like someone else said, everything is linked with personal accounts via online banking so its very easy to move money around.

[topper]

Not sure i like the sound of this. I would prefer to have full control of the money (i'm assuming that the accountant would have someform of control of the account?)

They have view only access, they have no control over it what so ever.

[kingcook]

Well, thank you all, I see it is not an easy issue...

My accountant told me they can open HSBC account for me very quickly; I think I'll go for it.
Hope it will be not too much of a hassle to close the half-opened NatWest.

Not sure i like the sound of this. I would prefer to have full control of the money (i'm assuming that the accountant would have someform of control of the account?)

[topper]

Strange, I was told HSBC were good for Business Accounts, I tried to open one with them and it was horrendous, took ages and form sending back and forth with copies of everything.

Sacked them off, went to my Natwest, met Business Manager and had an Account opened within 3 days and linked to my personal online account! Simples!

[anddrew]

Well, thank you all, I see it is not an easy issue...

My accountant told me they can open HSBC account for me very quickly; I think I'll go for it.
Hope it will be not too much of a hassle to close the half-opened NatWest.

[lilelvis2000]

I got one from the RBS in 4 days! Frig standards have dropped!

[ads1980]

I had the same problem with Barclays. It took weeks. In fact, they had even applied the first months charge to the account before I even had any paying in book etc or any debit/credit cards. I ditched them and got all the charges refunded. I opened an HSBC Business Banking account on line and it was set up after a few days.

[Bumfluff]

Such a strange thing...

I registered my company and came to a NatWest branch to open business accout.
All went fine, I filled all the documents and gave them utility bills, passport etc, etc. and I signed everything and the lady told me - all done, and I will receive account details later.

But this was 9 days ago and they still say their operational team has not yet processed it, so I have no bank account details.

My agency is willing to pay me, but without the bank account they cannot proceed.

Does it really take such a long time to open account? Should I leave NatWest and try another bank?

Thanks in advance...

Natwest business banking is terrible, I had the same issue as you infact it too months to sort out, the issues appears to be caused by opening the account in branch, over the phone apperently its quicker.

Other things to note is if you open the account in branch you will be lumbered with a dedicated business manager, who you can never get hold off and who never replies to your messages, and you will also find telephone banking wont be able to help you that much and just tell you to contact your business manager. I asked Natwest to take the business manager out of it and let me deal direct with telephone backing they explained I could do this but would have to open a new account for this I couldnt just have my orginal accountant managed by telephone banking. In fact I found the service so bad I could easily believe it could cause big problems for any transaction heavy business.

To be honest your better off going to a different bank, I know others who have had there account setup in days at HSBC.

I went with Natwest as I was a customer of theres for 30 years prior for personal banking, but I would not recommend there business banking more so if you have opened the account in a branch and your stuff with a business manager.

[mos]

Opening of the business account usually takes a few weeks. I suppose that going with the bank where they already know you might speed things up. Best of luck.