Problem with opening business bank account

**BrilloPad** · 23 March 2012, 12:14

Have you explained the urgency and asked them why it is taking so long?

**Sausage Surprise** · 23 March 2012, 12:17

Yes - ditch Nat West and go through the whole process again with another bank.

**mos** · 23 March 2012, 12:19

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.

**Bumfluff** · 23 March 2012, 13:44

Originally posted by anddrew View Post

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.

**ads1980** · 23 March 2012, 13:47

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.

**lilelvis2000** · 23 March 2012, 13:48

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

**anddrew** · 23 March 2012, 14:00

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.

**topper** · 24 March 2012, 15:13

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!

**kingcook** · 24 March 2012, 16:13

Originally posted by anddrew View Post

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?)

Problem with opening business bank account