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Latest thinking on business banking

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    Latest thinking on business banking

    I've been reading some older threads on the above, but wanted to check what the current thinking was as far as business banking?

    Names in the frames by popularity seem to be Starling, Mettle, Tide.

    I have an application in with Starling but I'm on day 2 of waiting, so considering I might need a back-up plan. Are either of the other 2 any good?
    Clarity is everything

    #2
    Originally posted by SteelyDan View Post
    I've been reading some older threads on the above, but wanted to check what the current thinking was as far as business banking?

    Names in the frames by popularity seem to be Starling, Mettle, Tide.

    I have an application in with Starling but I'm on day 2 of waiting, so considering I might need a back-up plan. Are either of the other 2 any good?
    Tide works, Mettle will give you a free freeagent account, Starling wish to be a proper bank (and can cope with cheques for instance in ways the others won't).

    Take your pick..
    merely at clientco for the entertainment

    Comment


      #3
      I use Mettle and it's fine. Limited to £10k transfers but if I plan ahead that's fine. No FSCS protection though so if you have pots of cash use Mettle just for transactional stuff rather than saving.

      It was setup in a day or two.
      See You Next Tuesday

      Comment


        #4
        Originally posted by Lance View Post
        I use Mettle and it's fine. Limited to £10k transfers but if I plan ahead that's fine. No FSCS protection though so if you have pots of cash use Mettle just for transactional stuff rather than saving.

        It was setup in a day or two.
        In the current climate why on earth would anyone bank with an emerging bank with no FSCS protection?
        'CUK forum personality of 2011 - Winner - Yes really!!!!

        Comment


          #5
          Originally posted by northernladuk View Post
          In the current climate why on earth would anyone bank with an emerging bank with no FSCS protection?
          I wouldn't call them emerging. It's still Natwest, and like I say don't stash your cash there.
          Virgin Business Savings, CaterAllen both are free and do have FSCS protection. So you've got £170k protection.



          Oh. You do know that the rules changed don't you?
          Even with FSCS protection you can still be 'haircut'. Like what happened to Cyprus banking.
          See You Next Tuesday

          Comment


            #6
            Mettle isn't FCSA regulated as it's still under the FCA rules which require the money to be safeguarded - see

            How is my money protected? | Mettle Frequently Asked Questions

            I wouldn't keep my warchest there but it seems fine for day to day banking.
            merely at clientco for the entertainment

            Comment


              #7
              Originally posted by northernladuk View Post
              In the current climate why on earth would anyone bank with an emerging bank with no FSCS protection?

              Yes, I just had a read though their info. I'll check what Tide say on the subject. That said, my requirements might be short term as I might go inside post March & thereafter using umbrella, so the lack of FSCS might not be too much of a concern.

              Which raises another question now that I think of it: for the outside work, is it the case that the March invoice needs to be paid before a certain cut-off date in April (as opposed to end of April)? I'm sure I read it on here some time ago. If there's a link I can quote to the client then that would be much appreciated.
              Last edited by SteelyDan; 21 January 2021, 15:36.
              Clarity is everything

              Comment


                #8
                What's wrong with HSBC and paying £8 per month?
                I was an IPSE Consultative Council Member, until the BoD abolished it. I am not an IPSE Member, since they have no longer have any relevance to me, as an IT Contractor. Read my lips...I recommend QDOS for ALL your Insurance requirements (Contact me for a referral code).

                Comment


                  #9
                  Originally posted by Scruff View Post
                  What's wrong with HSBC and paying £8 per month?
                  I only pay £6.50

                  Comment


                    #10
                    Originally posted by SteelyDan View Post
                    Yes, I just had a read though their info. I'll check what Tide say on the subject. That said, my requirements might be short term as I might go inside post March & thereafter using umbrella, so the lack of FSCS might not be too much of a concern.

                    Which raises another question now that I think of it: for the outside work, is it the case that the March invoice needs to be paid before a certain cut-off date in April (as opposed to end of April)? I'm sure I read it on here some time ago. If there's a link I can quote to the client then that would be much appreciated.
                    Is there something pushing you to feel like you ought to change banks?

                    Comment

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