Bank account advice for Small Start Up Business

[skyhuck]

I've read it and that's fine but you stomp on anyone who disagrees with petty insults

 

 

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You started the "stomping" with the "you're doing something wrong" coment

[Jonny69]

 

 

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This picture sums up the best reason to have a business account. When you have made a few quid they are really nice to you.

 

They sort stuff out asap, offer lending and company credit cards etc

 

I have not taken them up of any of the credit. But the account costs around £5 per month with the only charge being for paying in cheques which is about 10p and i put in 5 a month.

 

The major benefit is customer service. Ring the business helpline and you speak to someone English who sounds like they can read past primary school level.

 

This has happened on a couple of occasions, normally when they have charged me for things I didn't realise were chargeable. One phone call and the money is refunded because I tell them ill move the business if they don't.

 

This is Natwest btw.

 

Only problem is the branches seem to close and the ones that stay open go down to reduced hours. Not a huge worry though, just collate the cheques up and take a few months worth in one go.

[flatyre]

so it says in the personal account small print that its not for business use, fair enough, but why, whats so bad about using a personal account for a small business, when I was an employee I got my wages paid into my personal account as millions of people do, so its legal to get the financial gains from your work paid into a personal account, but also illegal to get the financial gains of your work paid into a personal account? whats the difference, seems to me the banks are pushing business accounts purely for their own financial gain.

[Mark Bolam]

That's exactly it.

It's not illegal, they just don't like it.

 

 

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[Mark Bolam]

The major benefit is customer service. Ring the business helpline and you speak to someone English who sounds like they can read past primary school level.

 

 

 

This is why I have a business account, although HSBC have just closed my local branch, which at least means I've finally had the sense to say no to cheques, which I make very clear at quote stage.

 

 

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[richy_B]

The major benefit is customer service. Ring the business helpline and you speak to someone English who sounds like they can read past primary school level.

 

 

 

This is why I have a business account, although HSBC have just closed my local branch, which at least means I've finally had the sense to say no to cheques, which I make very clear at quote stage.

 

 

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Id agree with this. I am with Barclays and have phoned/emailed my business banking manager from my local branch 4 or 5 times in the last 3 years to discuss specific issues, talk about borrowing, etc. He is excellent and has provided some sound advice. I pay £6.50 a month for my account which i feel is reasonable considering i have maybe 250-500 transactions a month.

 

In the UK we are fortunate to have free banking at a personal level which is why opening a business account can see pricey.

[Richard 1234]

so it says in the personal account small print that its not for business use, fair enough, but why, whats so bad about using a personal account for a small business, when I was an employee I got my wages paid into my personal account as millions of people do, so its legal to get the financial gains from your work paid into a personal account, but also illegal to get the financial gains of your work paid into a personal account? whats the difference, seems to me the banks are pushing business accounts purely for their own financial gain.

 

 

Think of it another way. You can get people to pay "flatyre enterprises" instead of mr flatyre. If you see what I mean people do seem to like it as it makes you look more professional.

Mine costs £7.50 a month.

 

 

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[Ian Leach]

Everything can be negotiated , I got and extra years free banking. Only pay £5 per month now anyway was £10.

[Steve Bullman]

Who are you with Ian? I need to open a new account myself

[Ian Leach]

Who are you with Ian? I need to open a new account myself

Natwest.