CoOp company account.
Discussion
We've got a company account with CoOp which is a legacy from when we had commercial debt with them. It sits there now with a minor revenue flow, a few tens of thousand balance and some DDs going out.
It was my intention to leave it alone to die when revenues churned to our main account.
AFAIK the FSCS covers us up to £85k should the bank go titsup, so I am tempted to still leave it alone.
Anyone see a flaw in my laziness... sorry... plan?
It was my intention to leave it alone to die when revenues churned to our main account.
AFAIK the FSCS covers us up to £85k should the bank go titsup, so I am tempted to still leave it alone.
Anyone see a flaw in my laziness... sorry... plan?
If you are doing nothing other than very basic stuff then there is no reason to move accounts. As you've inferred there is a level of protection from having funds spread across different accounts.
However, if you are intending on doing anything even slightly complex then i would never use the Co-op. Their service has deteriorated over the years, probably due to all the cutbacks they've has to make, and they are now too error prone. They are also not properly equipped to deal with the full range of services required of a modern business.
Plus their business online baking is stone age.
However, if you are intending on doing anything even slightly complex then i would never use the Co-op. Their service has deteriorated over the years, probably due to all the cutbacks they've has to make, and they are now too error prone. They are also not properly equipped to deal with the full range of services required of a modern business.
Plus their business online baking is stone age.
Colossal_Squid said:
Plus their business online baking is stone age.
Probably, but when checking the accounts I can at least select date ranges and view the entire period on one page.HSBC's online banking allows me to go back about 3-4 weeks, after which I have to got to statements. It's a PITA.
Colossal_Squid said:
If you are doing nothing other than very basic stuff then there is no reason to move accounts. As you've inferred there is a level of protection from having funds spread across different accounts.
However, if you are intending on doing anything even slightly complex then i would never use the Co-op. Their service has deteriorated over the years, probably due to all the cutbacks they've has to make, and they are now too error prone. They are also not properly equipped to deal with the full range of services required of a modern business.
Plus their business online baking is stone age.
The whole business is stone age. Their staff really haven't a clue (even at the higher levels) and their knowledge of banking in general borders on the utterly dangerous.However, if you are intending on doing anything even slightly complex then i would never use the Co-op. Their service has deteriorated over the years, probably due to all the cutbacks they've has to make, and they are now too error prone. They are also not properly equipped to deal with the full range of services required of a modern business.
Plus their business online baking is stone age.
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