Barclays or LLoyds- Business Bamk Account

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S

sbboy

  • #1
    I've recently registered as a sole trader and need to open a business bank accoutn. I have personal accounts with Barclays and Lloyds and want to opena business one with either. They both seem to be talking the talk, but not sure who's best.

    Any advice from anyone with experience with either? You can suggest another bank(halifax is out of the question), only with affirmative advice; but was trying to keep things simpler for myself

    Regards
     
    Stationery-Direct

    Stationery-Direct

    Free Member
    Jul 12, 2005
    1,305
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  • #2
    Not sure about Lloyds but the charges with Barclays when the initial free period ended were too much for my liking, I switched to Abbey and their FREE Business Banking, this will not work for everyone as there are restrictions, however, for me they are spot on.

    Barclays were charging me for each cheque I paid in, they charged me for the slip that I filled in to pay the cheque in and then they had the cheek to charge me for the account, don't get me wrong we are not talking much each time, however, at the end of the year this worked out to be around 1k in bank charges, I pay nothing now :D
     
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  • #6
    My some of my businesses bank with Barclays and others with Lloyds TSB, both can be terrible. Recently I've had more patience with Barclays as a new manager has sorted out the problems.

    It's really down to the manager you get, and trouble is they all seem to move jobs every year or two...

    Regards, TPC
     
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    A

    Arcadian

  • #8
    It does depend very much on the manager. I just opened a small company account with Barclays (small as in will be hardly any transactions) and they have been extra helpful but then they are falling over themselves trying to get my main account since I'm an accountant. They will probably get it too.

    I have my personal accounts with Lloyds and therefore no business accounts with them. I don't think it's wise for one bank to have all your accounts and have all your eggs in one basket.
     
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    L

    leemason

  • #10
    Personally I would not have a business and personal account with the same bank. I know others who have commented have this so I am probably alone in this but don't like the idea that the bank could "mix up" the two. I suppose I am too suspicious to allow then that much information.

    I have business accounts HSBC and Abbey. HSBC I have had since 1995 and until recently I would have said that they were great. However, a while back they moved their business call centre to India and ever since I have had really problems which have culminated in my not using this service at all now (I won't go into it). I started with Abbey about 9 months ago and they managed to loose the payment that I made to start the account which delayed me starting up a new business by about 4 weeks!
     
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    L

    Lisette

  • #11
    I have two businesses - one with HSBC and one with Abbey. My first was HSBC and I set it up face to face and the business adviser was really fantastic (since moved on, of course). This was also Canary Wharf literally under their global HQ so you would expect it to be a decent set up. I use their Indian call centre and find them really good (not like BT's which is awful) - helpful, do stuff, give advice (told me to move some money from the current to cash builder account to get better interest). But after 12 months they charge. Abbey is lower spec but free for life so this helps. It is pretty much all on line - I tried to set up in person in Canary Wharf and they sat me down, made me fill in forms and then said they would post them off and I would hear in 4-6 weeks (or something like that!). Their telephone people sound Scottish so probably based there (not thought to ask) and are very nice and helpful.
     
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