Bank recommendation

[Mr Rightside]

I wish to change banks. Recommendations? I have been with Starling for 6 years and on the two occasions I have requested an OD facility (in both circumstances to cover very short-Term cash flow issues ) I have been turned down in a ‘computer says no’ kind of way. It’s frustrating and you never get to explain the particulars of your requirements: In this case, I require a 1k OD facility,until March 7th, to cover some monthly DDs which go out at the beginning of the month). Surely this is a situation where you would expect a business bank ‘that understands the cash flow issues an SME can face’ to step in?

 

[Daybooks]

Personally I would go with one of the main high street banks everytime and accept that they are all as bad as each other.

 

[Newchodge]

I doubt any bank would give an overdraft for short term cashflow issues, without a reasonable degree of notice - you should have been aware there may be cash flow issues.

 

[Paul Kelly ICHYB]

Unless you have a solid business - good turnover & profit, banks are offering less OD's than pre COVID.

If you do get one, it would probably require a PG.

The high street might be a better place to look, however, the days of personal business bankers are probably long gone!

 

[Mark T Jones]

As others have said, overdrafts are a rare commodity- do are accessible bank managers

There are several non-bank offerings designed to substitute overdrafts.

 

[MyAccountantOnline]

I wish to change banks. Recommendations? I have been with Starling for 6 years and on the two occasions I have requested an OD facility (in both circumstances to cover very short-Term cash flow issues ) I have been turned down in a ‘computer says no’ kind of way. It’s frustrating and you never get to explain the particulars of your requirements: In this case, I require a 1k OD facility,until March 7th, to cover some monthly DDs which go out at the beginning of the month). Surely this is a situation where you would expect a business bank ‘that understands the cash flow issues an SME can face’ to step in?

You may find it easier with one of the high street banks but it's something I hear quite regularly from clients now.