Business bank Accounts

[vp1980]

Hi,

I am new to the forum and was looking for some advice on what would be the best bank to go with for a business account. I have an Ebay shop and doing ok for a new business.

We would have payments sent from paypal every week. We would have to lift out money from cashlines or bank branches every week, and also transfer money to other banks once a month. We would also be making purchases from the bank card for stock. We will rarely deal with cheques.

If anyone could recommend any banks that are doing good deals for new businesses that would be a great help.

Thanks

[See Web Solutions]

We use Santander Business Banking no charges EVER.

There are actually charges but the limits are so high that if you were clocking up charges you wouldnt care about it.

[kontracta_com]

We use Santander too.

I'm personally not a huge fan as it took a massive effort to get the account up and running and I haven't forgotten that; you won't get any face to face advice either. That said we don't have any bank charges and are not really after anything more than the basic service so we're sticking with them. For every one of us, there are bound to be far more people who are much happier with the service anyway.

I guess you'll have already thought of this but we used Money Supermarket to compare and contrast when we chose Santander.

[gezzagregz]

cater allen are good (part of the santander group)

Also free business banking so you dont get hit with charges after two years.

[See Web Solutions]

I also had the same problem with getting the account open.

They are not the quickest

[vp1980]

Thanks for the advice, I have went ahead and applied for Santander. Now its just the waiting game.

[kontracta_com]

Good luck - you'll be fine by Christmas!

It took about a month for me but it did involve transferring banks. Hopefully you'll have no such trouble.

[vp1980]

A month lol I thought you all meant about a week. I will let you know how long it takes.:)

[tony84]

i use santander only been with them a week. Took longer than expected to get set up but apart from that everything seems fine.

Might not be suitable for you as you can only withdraw £100 cash per month. However if you have another santander account you can transfer the money to that freely - so maybe have a santander personal account?

[Williams lester]

i use santander only been with them a week. Took longer than expected to get set up but apart from that everything seems fine.

Might not be suitable for you as you can only withdraw £100 cash per month. However if you have another santander account you can transfer the money to that freely - so maybe have a santander personal account?

Why can you only withdraw £100 per month? Never seen that on a Santander account and I have about 50 odd clients who use them (plus we use them as our bankers too!).

[wizzard]

i use santander only been with them a week. Took longer than expected to get set up but apart from that everything seems fine.

Might not be suitable for you as you can only withdraw £100 cash per month. However if you have another santander account you can transfer the money to that freely - so maybe have a santander personal account?

Just looking at their site now. Are you sure you're not confusing it with 100 free transactions per month, above that you pay 50p per transaction?

[tony84]

i understood it to be £100 cash but possibly.