HSBC Business Banking - £5.50 per month!

[kingcook]

Anyone else had the letter? HSBC are going to start charging me £5.50 per month for my business account!

I'm moving to Lloyds TSB who charge £5.00 per month, a saving of 50p.

[AtW]

Anyone else had the letter? HSBC are going to start charging me £5.50 per month for my business account!

Banks need to earn money to - be grateful you are not paying %-tage on your billings as it happens with merchant accounts.

How much would it cost you if you had to pay 3% on your monthly rate? More than £5.50 I hope.

I'm moving to Lloyds TSB who charge £5.00 per month, a saving of 50p.

It's about to be broken up into Lloyds and TSB parts, a perfect time to review charges...

[kingcook]

Banks need to earn money to - be grateful you are not paying %-tage on your billings as it happens with merchant accounts.

Of course they do:
HSBC profits almost double in the first three months of the year | Business | guardian.co.uk

I see your point about their break up though. I thought they'd be best choice as I bank with them personally (although i'm not sure that's a good thing - do I show my support to them or am I placing all of my eggs in one basket?)

[AtW]

Of course they do:
HSBC profits almost double in the first three months of the year | Business | guardian.co.uk

They've made 5.4 bln profit in a company with 260k employees.

Profit per employee is therefore around £21k.

Is your company more profitable than the bank?

[kingcook]

They've made 5.4 bln profit in a company with 260k employees.

Profit per employee is therefore around £21k.

Is your company more profitable than the bank?

Profit is after all expenses have been paid, isn't it?

In which case my ltd co is slightly behind HSBC

[SueEllen]

Anyone else had the letter? HSBC are going to start charging me £5.50 per month for my business account!

What's the name of the account you have with HSBC?

Edit: It's ok if you have the Business Current Account small business tarriff you get charged.

If you have the Business Direct Account then there is no charge.

There is no charge for their Business Direct Account as they expect you to do most thing online or through telephone banking.

[AtW]

In which case my ltd co is slightly behind HSBC

In which case I perfectly I understand your desire to save 50 pence a month.

[kingcook]

What's the name of the account you have with HSBC?

Edit: It's ok if you have teh Business Current Account small business tarriff you get charged.

If you have the Business Direct Account then there is no charge.

There is no charge for they Business Direct Account as they expect you to do most thing online or through telephone banking.

Business Direct (to be renamed to Electronic Banking Tariff)

[scooterscot]

Deutsche bank charges me every quarter, €25-30 or there abouts - peanuts.

On the plus side, nearly on my business is done at a local branch 10 minutes walk away. The branch staff know me by name, there's a couch & telly with coffee served if I'm kept waiting.

[lilelvis2000]

Business Direct (to be renamed to Electronic Banking Tariff)

If you are happy to go online then may as well be with Cater Allen.