Business banking

[SteelyDan]

Have decided to switch business banking from HSBC.
Been reading some good things on a previous thread, & elsewhere, about Starling. Are they still favourable? Any issues?
I'm looking for free banking, no fees, freeagent integration, & quick set-up with minimal fuss. Free freeagent would be even better tbh...
Seems Starling only have business current a/c whereas before with HSBC they provided a savings a/c called business money manager where I could shift VAT/Corp Tax amounts to until they were due to be paid. Not a deal breaker not having this but I like to separate these things from normal current a/c. Cheers.

[PerfectStorm]

Yorkshire Bank and Clydesdale (same thing) currently do 2 years free for switchers.

TSB do 18 months.

The rest tend to be free for new businesses only.

You can get 5.5 years free by going Clydesdale-->TSB-->Yorkshire :-)

Use that only for in and out transfers and let it sit in Aldermore the rest of the time.

Your accountant will tell you how much money you've got for yourself and tax

[SuperLooper]

Starling is still good, still free, still works smoothly with FreeAgent.

You can create separate pots for tax and war chest which sounds like what you're looking for.

[SteelyDan]

Starling is still good, still free, still works smoothly with FreeAgent.

You can create separate pots for tax and war chest which sounds like what you're looking for.

Yep that looks like the thing I'm after, cheers. What's the cycle time from initial set-up request to being open?

[SuperLooper]

Yep that looks like the thing I'm after, cheers. What's the cycle time from initial set-up request to being open?

A few hours typically? Mine took a bit longer because my company is multiple-PSC so had to wait for my wife to do all her bits.

[wattaj]

Seek and ye shall find: https://www.contractoruk.com/forums/...ml#post2644983

[SteelyDan]

A few hours typically? Mine took a bit longer because my company is multiple-PSC so had to wait for my wife to do all her bits.

Good news, thanks, I think with this and the other research I've done, I'm persuaded.

[SteelyDan]

Seek and ye shall find: https://www.contractoruk.com/forums/...ml#post2644983

Yep, that's the thread I referred to at the outset of this post when I said 'Been reading some good things on a previous thread'

[SteelyDan]

A few hours typically? Mine took a bit longer because my company is multiple-PSC so had to wait for my wife to do all her bits.

One last thing, do you need to provide funds for an opening balance, token £1 or something?

[SuperLooper]

One last thing, do you need to provide funds for an opening balance, token £1 or something?

I don't think you are required to, but I did a test transfer straight away just to make sure everything was working.