Recommendations for small business bank account
Discussion
Hi PHers,
I'm due to take over a small business in a few weeks. Business is health/ social care sector. Most payments are made online/ electronically, though a small number of payments is received in the form of cheque or standing order. Cash is withdrawn in small amounts a few times a month (about £500 total per month).
What business bank accounts have people here used? From a quick look online Staling Bank seems to get good reviews and appears to have minimal fees for my requirements.
Any feedback welcomed
I'm due to take over a small business in a few weeks. Business is health/ social care sector. Most payments are made online/ electronically, though a small number of payments is received in the form of cheque or standing order. Cash is withdrawn in small amounts a few times a month (about £500 total per month).
What business bank accounts have people here used? From a quick look online Staling Bank seems to get good reviews and appears to have minimal fees for my requirements.
Any feedback welcomed
I have two business accounts with Starling. One for a Ltd company and one for a sole trader business. Both are perfect for our needs. Cheques can be paid in by scanning using the app...this works really well . We have had cheques if scanned before 4pm clearers 9am the next morning. Cash can be drawn out using cash machines. Cannot fault anything about it .
Used to run a much bigger company with a HSBC business account which was frankly rubbish service .
Used to run a much bigger company with a HSBC business account which was frankly rubbish service .
Codswallop said:
Thanks for the feedback folks. I've applied for one of their accounts via the app. How long have people had to wait historically for an account to be opened? It's already been a few days and I'm itching to get started 
I recently opened a ltd account with Starling. It was approved in the app within 24 hours then card arrived within the week. Redarress said:
Just a note. last time i checked Starling were not accepting sole traders only Ltd companies on their business accounts
That's still the case, even though they tell you to open a personal account and then you'll be able to open a business account via the app. You can't unless you're limited...Sideways Tim said:
Redarress said:
Just a note. last time i checked Starling were not accepting sole traders only Ltd companies on their business accounts
That's still the case, even though they tell you to open a personal account and then you'll be able to open a business account via the app. You can't unless you're limited...To conclude this thread, my new business account was opened today. I'm impressed so far with the way the app works and the general interface.
I did see on starling's website however that due to high demand, new accounts are taking longer to come through. Mine took 3 days, which isn't too bad still.
I did see on starling's website however that due to high demand, new accounts are taking longer to come through. Mine took 3 days, which isn't too bad still.
megaphone said:
I'm a non limited sole trader, I was able to open an account, this was back in Feb.
Hmmm, methinks they've changed tack due to Covid. I did get a message eventually from someone at Starling saying they will be rolling out non ltd accounts again at some point, but not when that point would be reached.Sideways Tim said:
megaphone said:
I'm a non limited sole trader, I was able to open an account, this was back in Feb.
Hmmm, methinks they've changed tack due to Covid. I did get a message eventually from someone at Starling saying they will be rolling out non ltd accounts again at some point, but not when that point would be reached.Gassing Station | Business | Top of Page | What's New | My Stuff