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UK Business Bank Accounts

Stony Grunow
Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Rodrigo Cauduro
just don't pick Natwest ;-)

We use HSBC because of their internet banking, which has been superior to the competition.

Regards,
Rodrigo.

On Wed, Apr 29, 2009 at 4:43 PM, Stony Grunow <[hidden email]> wrote:
Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Ian Applegate
In reply to this post by Stony Grunow
Cater Allen Private Bank (backed by Santander) are great for startups.

On Wed, Apr 29, 2009 at 4:43 PM, Stony Grunow <[hidden email]> wrote:
Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Simon Whiteside
In reply to this post by Stony Grunow
co-op worked well for me.

Stony Grunow wrote:
Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Regards,

Simon
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Simkin Solutions Limited

Clients Include: Politics Home, WENN, FileFX, 
Favy, Mather Communications, Sibelius

2a Royal Chase, Royal Tunbridge Wells, Kent TN4 8AY
Registered in England and Wales. Company Number: 4045429 
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RE: UK Business Bank Accounts

Brian Milnes
In reply to this post by Stony Grunow

The Co-op does a FSB related no-charge account which I’ve found reasonable. For those few people not paying electronically, I can pay in via a Post Office via what was Giro Bank (now Alliance & Leicester).

In other respects they’re no worse than most and much better than the worst. (RBS/Natwest and Standard Life currently fit into that category)

Brian

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Stony Grunow
Sent: 29 April 2009 16:44
To: [hidden email]
Subject: [entrepreneur-1056] UK Business Bank Accounts

 

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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RE: UK Business Bank Accounts

Simon Jenner
In reply to this post by Stony Grunow

I have been trying to setup a business account with HSBC for a new business and 4 weeks on I am still waiting. However, have been with RBS previously who were not good and currently I am using Lloyds who are ok.

 

HSBC do have a great Internet banking system though which makes things a lot easier.

 

My 2 p

 

Simon

 

 

Simon Jenner, stirring the pot of entrepreneurial magic

inbizvest - Dragons' Den for the internet

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Twitter: @inbizvest

Blog: blog.inbizvest.com

 

 

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Stony Grunow
Sent: 29 April 2009 16:44
To: [hidden email]
Subject: [entrepreneur-1056] UK Business Bank Accounts

 

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Mohammad Al-Ubaydli
In reply to this post by Stony Grunow

I can't speak highly enough of HSBC, not just because they set me up so quickly but also because when I call out of hours with a question that only the branch can answer, the branch follows up first thing the next day. And they keep calling until they get me.
Mohammad

On Apr 29, 2009 4:43 PM, "Stony Grunow" <[hidden email]> wrote:

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Simon Whiteside
In reply to this post by Stony Grunow
I've used lloyds as well - pretty poor online system (doesn't update until the next day!)

It seemed very bureaucratic and old fashioned next to the coop.

Simon Jenner wrote:

I have been trying to setup a business account with HSBC for a new business and 4 weeks on I am still waiting. However, have been with RBS previously who were not good and currently I am using Lloyds who are ok.

 

HSBC do have a great Internet banking system though which makes things a lot easier.

 

My 2 p

 

Simon

 

 

Simon Jenner, stirring the pot of entrepreneurial magic

inbizvest - Dragons' Den for the internet

Chief Entrepreneur

[hidden email]

M: 07900 885371

Web: www.inbizvest.com

Twitter: @inbizvest

Blog: blog.inbizvest.com

 

 

 

From: [hidden email] [[hidden email]] On Behalf Of Stony Grunow
Sent: 29 April 2009 16:44
To: [hidden email]
Subject: [entrepreneur-1056] UK Business Bank Accounts

 

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Regards,

Simon
-- 
Simon Whiteside                  
Simkin Solutions Limited

Clients Include: Politics Home, WENN, FileFX, 
Favy, Mather Communications, Sibelius

2a Royal Chase, Royal Tunbridge Wells, Kent TN4 8AY
Registered in England and Wales. Company Number: 4045429 
http://www.simkin.co.uk
Skype: <a class="moz-txt-link-freetext" href="callto://swhiteside">callto://swhiteside
Second Life: Simon Hagoromo




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Re: UK Business Bank Accounts

FTired
Administrator
In reply to this post by Stony Grunow
There is an old thread on this someone , 3 mnths ago

I would use Abbey, since the banking is free, its also online

Iqbal


From: Stony Grunow <[hidden email]>
To: [hidden email]
Sent: Wednesday, 29 April, 2009 16:43:37
Subject: [entrepreneur-1056] UK Business Bank Accounts

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Steve Kennedy
In reply to this post by Stony Grunow
Depends on what you need from a bank.

We've found NatWest offer the best service if you have multiple  
signatories for doing bank payments on-line etc.

Were using Barclays who are quite good - just not for on-line stuff.

Steve

On 29 Apr 2009, at 16:43, Stony Grunow wrote:

> Hello All
>
> I'm setting up a business bank account for my company, and I haven't  
> heard great things about banks and their treatment (or lack of)  
> business account customers.
>
> Do people have any suggestions? Also, should my choice be between  
> companies (i.e. HSBC vs. Abbey) or based on other factors, like  
> number of branches, or proximity to my house / office, or does it  
> just come down to getting a good bank manager and hoping he doesn't  
> move branches / jobs?
>
> If this makes a difference, bank loans are not going to be needed in  
> the near future (though an overdraft never hurts), and our weekly  
> transactions are expected to be low, as we are an IT consulting  
> company.
>
> Many thanks
>
> stony
> citrusconsultants.com
>
>
>
>
> --
> Please Note: If you hit "REPLY", your message will be sent to  
> everyone on this mailing list ([hidden email])
> This message was sent by Stony Grunow ([hidden email]) from  
> London OpenCoffee Meetup.
> To learn more about Stony Grunow, visit his/her member profile
> To unsubscribe or to update your mailing list settings, click here
>
> Meetup Support: [hidden email]
> 632 Broadway, New York, NY 10012 USA

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Re: UK Business Bank Accounts

Alex Monro
In reply to this post by Stony Grunow
It really does not matter a great deal  -  you get what you pay for.  A busness account will cost a lot more  -  but you will get much better
service.  If your account is going to be small initially and you are not likely to have to borrow money at any time, then there really is no
point in having a business account.  But once you start putting serious money through you will need a business  account.  I have a busness account with Barclays and have found them OK.  The personality of the local busness manager does not really matter as lending decisions are made on strict criteria and are taken with the aid of a computer model. You are judged by what you have done, not by what you say you will do!
best wishes with it
AHM
Sent: Wednesday, April 29, 2009 4:43 PM
Subject: [entrepreneur-1056] UK Business Bank Accounts

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Rene Millman
In reply to this post by Stony Grunow
HI,

We have used HSBC in the past as it has 18 month's free banking. The charges seem to be low enough for us not to cause too much of a problem.

Rene

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2009/4/29 Stony Grunow <[hidden email]>
Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Antony Penn
In reply to this post by Stony Grunow
They are all pretty much as bad as each other. Go for one that you can easily get to from your normal place of work, and hope any nice small business manager you might find doesn't move!!

I know HSBC and some others will give you a year's free banking, but check the charges after this.



On 29/04/2009, Stony Grunow <[hidden email]> wrote:
Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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RE: UK Business Bank Accounts

phillip hofmeyr
In reply to this post by Stony Grunow

Here is the list of the 9 banks people have discussed with the comments below each.

http://bitly.com/snagsta_opencoffee_UK_banks

 

Until we set up something according to the suggestions of Rob/ Geoff/ Karlheinz hope this proves useful.

 

At least in 3 months time when the question returns the answers are saved J

 

Phil

 

From: [hidden email] [mailto:[hidden email]] On Behalf Of Antony Penn
Sent: 29 April 2009 17:27
To: [hidden email]
Subject: Re: [entrepreneur-1056] UK Business Bank Accounts

 

They are all pretty much as bad as each other. Go for one that you can easily get to from your normal place of work, and hope any nice small business manager you might find doesn't move!!

I know HSBC and some others will give you a year's free banking, but check the charges after this.


On 29/04/2009, Stony Grunow <[hidden email]> wrote:

Hello All

I'm setting up a business bank account for my company, and I haven't heard great things about banks and their treatment (or lack of) business account customers.

Do people have any suggestions? Also, should my choice be between companies (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or proximity to my house / office, or does it just come down to getting a good bank manager and hoping he doesn't move branches / jobs?

If this makes a difference, bank loans are not going to be needed in the near future (though an overdraft never hurts), and our weekly transactions are expected to be low, as we are an IT consulting company.

Many thanks

stony
citrusconsultants.com




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Re: UK Business Bank Accounts

Reenen
In reply to this post by Stony Grunow
2009/4/29 Stony Grunow <[hidden email]>:

> Hello All
>
> I'm setting up a business bank account for my company, and I haven't heard
> great things about banks and their treatment (or lack of) business account
> customers.
>
> Do people have any suggestions? Also, should my choice be between companies
> (i.e. HSBC vs. Abbey) or based on other factors, like number of branches, or
> proximity to my house / office, or does it just come down to getting a good
> bank manager and hoping he doesn't move branches / jobs?

Only just created an account myself, and I went with HSBC. I initially tried
to open an online and in branch account with Barclays. The online account
was supposed to take 7 days to complete, more than 4 weeks and several
phone calls later I have heard nothing. Worse, I have been promised
feedback and they just do not seem to bother to call back even when they
commit to do so. And when I did call to follow up I had to explain the same
problem at length, even to the same person.

In contrast HSBC was a pleasure. I made an appointment with my local
branch, and left with an account number. They confirmed account
creation by
telephone. They give 18 months free business accounts, but I think
Internet transactions continue to be free after that. Ask.

I decided to go with HSBC since they are supposed to be reasonable
to good online, and it also lets me spread my risk ito. where I do my
banking. There is a local branch, the local business account manager seems
fine, and I have been given a recommendation for HSBC, though another
branch.

I decided to try Barclays since they are big and I thought I'd not
have to interact
much with them. Also having a personal account with them was supposed
to simplify
the requirements for the business account (the primary reason).

> If this makes a difference, bank loans are not going to be needed in the
> near future (though an overdraft never hurts), and our weekly transactions
> are expected to be low, as we are an IT consulting company.

-R




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