Choosing a business bank account

[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.

[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".

[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

[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.

[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.

[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.

[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.

[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.

[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.

[Contractor UK]

FREE banking is good

One possibility: Cater Allen