Bank Account for new ltd company

[Preed]

Hi,
Could anyone recommend best bank account for anew limited company please ?
I have been a Sole Trader since 2016 and I’m now making the move to a Limited company. Any hel would be appreciated.
Thanks Paul.

 

[DontAsk]

Never had any issues with Santander.

 

[Socio South West]

Ditto Santander

However, with any newly registered company be prepared to have to jump through a few hoops before you get it accepted and set up. Unfortunately banks don't know or try to know their customers any more, and treat everyone at the outset as if they are the next band of international money laundering terrorists.

 

[Mark James]

Co-operative

 

[fantheflames]

I remember when I switched from self employed to limited! What a huge difference it is... any brick bank will be good. There's plenty of online banks that might be less hassle to sign up.

FYI If you're closing your old account, make sure to download any statements from your old account, cancel any direct debits and standing orders from the old account, and update your new bank details with customers, suppliers, etc. If you have insurance, you'll need to check in with them too!

 

[DontAsk]

The other thing is, why not stay with the bank you used as a sole trader? You'll need to open a new account but they should already know you and that should make it easier. That's what I did with Santander. There was a lot less paperwork, and less explicit checks, than when opening the original sole trader account. I also left the old account in place as people would still pay into it, despite being told not to!

 

[Paul Kelly ICHYB]

What is your definition of best? What do you want? Online only or high street branches? Simple transactional or a full suite of banking & financial services?

Any bank will do the basics, but it is all the additional stuff that makes the difference and only you know what you need.

 

[Daybooks]

Any bank will do the basics, ….

That will be the “basics” as defined by themselves.