Small Business Bank Accounts

[955matt]

Hi

Just setting up my business and was wondering if any of you would recommend a bank for business accounts? I've had a look at www.reviewcentre.com/products294.html and they all appear to be pretty pants. Any recommendations would be most appreciated.

Many Thanks Matt

[PetrolTed]

Recent discussions on here generally point to random satisfaction with banks. All you can do is go see your local banks and decide who is giving good service locally.

[Size Nine Elm]

IMHO they're all equally good/crap*, so choose the one nearest to you. It'll save you time if nothing else.

* delete as applicable

[sleepezy]

my experience is that it generally depends on the relationship manager you have - they make/break the banks service offering. other than that they're pretty much all the same although some are better for some industries than others.

[tinman0]

sleepezy said:

my experience is that it generally depends on the relationship manager you have - they make/break the banks service offering. other than that they're pretty much all the same although some are better for some industries than others.

agreed. i've had superb relationship managers over the years at one particular barclays branch. even when our office moved away i kept the accounts there and keep banking there because they've been so good.

but as someone said earlier, its rather hit and miss.

[JonRB]

I've been using Cater Allen Private Bank for several years (from back in the days when they were Flemings).

Fairly basic account, no internet banking and counter services provided via RBS branches or by post, but the overwhelming upside is no transaction charges at all.

Compare that to other business banks who charge you for every single transaction and it may be worth looking at.

Having said that, some of the High Street Banks are offering free banking for an introductory period and even a small number of 'free' transactions a month, so Cater Allen are becoming less competative these days and the lack of internet banking is a real bind. Having said that, they do have a very good telephone banking service that is staffed by people in the UK and you get through without having to press a single touchpad menu option, so it's not too terrible.

[MarkoTVR]

I use CAPB too, and my opinion is here: www.pistonheads.com/gassing/topic.asp?t=255380&f=92&h=0

[emicen]

I have used Lloyds TSB and Alliance and Leicester.

Lloyds have been fantastic. As others have said, I went with them because they didnt monkey me about, unlike BOS, RBOS and Clydesdale. They gave me advice, a business start-up guide book (priced at £15) and all the info I required. With a reception like that I signed up with them and have had 4 completely hassle free years with the initial 2 years charge free.

Alliance and Leicester, supposed "business bank of the year 2005". Bunch of un-trained chimps imho. Granted the account I had was gained through a business take over and was in itself a remnant of the A+L takeover of Giro bank, but seriously, what use are A+L branded bank books you cant use at an A+L bank. Post Office only useage is just plain stupid. As is 2 separate pay in books for cash and cheques imho.