Hi, Newbie here with first IT contract coming up soon. I am setting up a Ltd Co. and appointing SJDAccountancy, and I need to setup a business bank account. I have tried searching this forum for 'business bank' and other keyword variations but could not find a recent applicable post. Ideally I am looking for some positive recommendations. I have Natwest and A&L current accounts, and prefer the former for customer service and general convenience, but A&L slightly better rates on various products.
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This has been done many times over. Use the search menu and you will find many long threads with account recommendations.Comment
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Just go with the bank that you bank with.
Makes transfers of wages etc instant which is nice.Comment
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Originally posted by Sockpuppet View Post
Seconded, we went with HSBC as I have been banking with them since they were the Midland personally, and they offered us 18 months free business banking.
Completely hassle free and if I ever perform a money transfer instead of BACS it's instant.
We looked in to Carter Allen, but at the time they didn't do internet banking, which was a big downside for us, however they have launched internet banking since then. But with the amounts we hold in our current account the extra interest we get from HSBC is bigger than the monthly charges (until interest rates drop further....)Comment
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The squint, the cocked eye and clenched first are the cornerstones of all Merseyside communication from birth to graveComment
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"Always hold your business account at a different bank from your personal accounts" is the advice I've been given. If everything is with one bank and one of your accounts goes 'wayward', the bank can help themselves to other money in your other accounts.
I've used Cater Allen for business, but now with LloydsTSB business who are great. So far they have fallen over themselves to be nice and offer me all sorts of things I don't need.
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How can they?Originally posted by Jubber View Post
The money in the company account is not mine. They would be breaking the law to take it to pay my personal account.
My personal current account has a £2k interest free overdraft (hangover from my uni days) that is always at £2k overdrawn. My company account has £20k+ sitting in the reserve account earning some fat %.
Jiff all natwest can do about it.Comment
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Try here :
http://www.anbusiness.com/business_a..._account.shtml
free banking for life, and interest paidComment
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Originally posted by Jubber View Post
This is quite scary if true, and would definately lead me to changing one (or more) of my accounts.
Can you link to anything that may indicate this as fact rather than hearsay?
(you have no idea how may times I had to retype this on a Saturday night after lots of cider....)Comment
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