Is business account free?

[tabadol]

I am planning to open a buiness account in HSBC, however I do not know whether business banking is free or not? Do I have to pay a monthly charge?

What are the advanteges of Business account?

Regards

[derek_mcgilvray]

HSBC offer an 18-month free business banking account, called Business Direct, but there are some restrictions - full info is given here: hsbc.co.uk/1/2/business/accounts/business-direct

Hope this helps,

Derek

[derek_mcgilvray]

I forgot to say that the benefits of having a business account, for sole traders who don't necessarily require one, number just one: they keep business expenditure and income separate from personal.

I don't see that there are any other advantages - just a whole load of charges, but the banks will pretty much force you into getting a business account if they think you are using a personal account for business.

[florenceij]

I am planning to open a buiness account in HSBC, however I do not know whether business banking is free or not? Do I have to pay a monthly charge?

What are the advanteges of Business account?

Regards

Hi, I use HSBC. I am in love with their online banking features. You will get 18 months FREE as previously quoted, this also applies to most of the other banks.

After 18 months, your ability to get FREE business banking would depend on your business needs. If all your payments are online, you can switch to the Business direct account which gives you FREE online banking, payments for cashing in cheques in a branch would apply. For more information check out their website.

A Business account will help you seperate your business earnings and transactions from your personal. This will help you with accounting and tax purposes.

You would also be able to receive cheques or payments from customers in a professional mannner i.e addressed to the Business.

FREE support from a Business manager and free business start up resources.

I hope this helps:)