Business banking - who and why?

[Kev Stephenson]

I have been with HSBC for the past 8 years with the business account and for 20+ years with personal accounts. Up to today the basic business account has been free to use with the exception of cash in/out.

 

Yesterday I had a letter from them stating that from September they are charging £5.50/month as a management fee, 90p everytime you use the branch counter, 40p per cheque in, £1 per cheque out, x% for cash in/out and zero interest. Probably equates to £100 ish per year.

 

Are there any better deals out there. My account is always in credit and sees £50k+ going through it in a year.

 

TIA

[openspaceman]

I have been with HSBC for the past 8 years with the business account and for 20+ years with personal accounts. Up to today the basic business account has been free to use with the exception of cash in/out.

 

Yesterday I had a letter from them stating that from September they are charging £5.50/month as a management fee, 90p everytime you use the branch counter, 40p per cheque in, £1 per cheque out, x% for cash in/out and zero interest. Probably equates to £100 ish per year.

 

Are there any better deals out there. My account is always in credit and sees £50k+ going through it in a year.

 

TIA

 

Yes I'm looking to change after this letter too, I'm nearly retired so I might just look to a basic personal account if anyone knows of a free banking account.

[Ian C]

i couldnt be chewed with the hassle of changing for 100 quid a year. seems fair they provide a service after all.

[Peter]

Co-op Fsb members account. Free banking, I can make deposits at my local post office, and they are one of the more ethical banks in terms of not selling tobacco to children or arms to dictators.

[Ian C]

Co-op Fsb members account. Free banking, I can make deposits at my local post office, and they are one of the more ethical banks in terms of not selling tobacco to children or arms to dictators.

 

All well and good but if the posties through the dummie out your buggered, thats why i changed to a high street bank from A+L commercial.

[Johny Walker]

i,got 2, 1,for my sole trader & 1,for my ltd co

[Peter]

All well and good but if the posties through the dummie out your buggered, thats why i changed to a high street bank from A+L commercial.

 

I can still go to the bank, but my nearest post office is only 1 mile away.

 

 

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[Ian C]

I can still go to the bank, but my nearest post office is only 1 mile away.

 

 

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Thats ok then A+L were only through the PO.

[JimM]

Business account with Santander. 18 months in and they've started charging £7.50 per month.

I can live with that.

[arbogrunt]

I have been with HSBC for the past 8 years with the business account and for 20+ years with personal accounts. Up to today the basic business account has been free to use with the exception of cash in/out.

 

Yesterday I had a letter from them stating that from September they are charging £5.50/month as a management fee, 90p everytime you use the branch counter, 40p per cheque in, £1 per cheque out, x% for cash in/out and zero interest. Probably equates to £100 ish per year.

 

Are there any better deals out there. My account is always in credit and sees £50k+ going through it in a year.

 

TIA

 

 

I opened up an HSBC business banking account

this year and took out a business loan. The bank account is the worst I've ever had. Its almost impossible to get anything sorted out on the phone and my business bank manager gave me some really duff advice and has cancelled appointments several times. To top the list of complaints they've told me I can't have an overdraft!...I have since moved all my standing orders over to my current account, which is also HSBC which serves as an excellent business-use account. Utterly useless.