Bank charges , what do you pay ?

[bythamboy]

thats a trick question , had my BT telephone bill today , they use to charge £4:50 per quarterly bill , but thats gone up by 20% this time,( now £5:40 ) if you don't pay by DD , thats how to make serious dosh ! ? I only have to pay 70 p to cash my cheques, obviously big business doesn't have such a good deal as my humble little business or is there any other explanation .?

[skyhuck]

They need some one to open your envelop, take a note of who has sent them the cheque and then pay it in, its much less hassle for them if you pay by DD.

 

Also cheques tend to arrive late, so DD is better for there cash flow.

[Kev Stephenson]

I prefer my customers to pay by direct bank transfer as it saves me the time and hassle of going to the bank and paying it in then waiting for it to clear. It therefore costs me less.

 

Can I ask why you don't pay by DD?

[bythamboy]

I don't like signing up for DD via internet as I like to limit risk from those nasty little scamers / hackers plus I have this old fashioned Idea of I like to be in charge and sign the cheque , some years ago the OFT ruled that bank charges for going overdrawn , bounced cheques etc should reflect the true cost to the bank and not be a cash cow .

[hippytyre]

I just pay my BT bill online via credit card, I don't think I get charged any extra for it. If your looking for a decent business bank account then have a look at alliance and Leicester commercial bank(now santander) or if your in the fsb the co-op do you a good deal.

[likeitorlumpit]

bank charges are always too much but you get a good deal i suppose- don't tell the bank. Don't withdraw cash or pay it in

[Highland Forestry]

We bank with the Co-Operative...... FREE business banking, and they seem very very good as far as customer service etc.

Another plus point is that you can bank with your local post office, which are open until 5.30pm up here which fits in nicely with working hours.

[hippytyre]

It's not entirely free though, you still get charged if you deposit over a certain amount in cash in one month. I think it's 4k for the co-op. Alliance and Leicester are free too but they allow less cash to be deposited before you get charged.

I stick with my bank because I get no trouble from them but I'd move to the co-op if i did.

[ptrinder]

Go with Abbey/Santander. It's free. Been self employed for 12 years and never payed a penny in charges. They give you postal pay -in envelopes (freepost) so you never have to go to bank. you can pay in cheques at a cashpoint too for free.