Best business bank account? Cash deposits

[RedmenWelshman]

Hi, I recently joined the family business which is a shop, we mostly accept cards but also receive some cash. My parents use HSBC atm and have been for several years, the cash deposit is expensive £1.50 (ish) for every £100. After looking in, Starling seems much cheaper (0.7%).

Has anyone got any suggestions for HSBC alternatives? Is Starling any good?

Thanks in advance

 

[Ozzy]

Working in retail with cash you are going to be quite limited with your options to only the big incumbents. If you are near a Metro Bank then they may be worth looking into, or someone like Coop who use the Post Office network for cash deposits.

"Best" is quite subjective though, by best do you mean cheapest or do you have any other needs from your bank that need to be considered such as finance to take into account?

If it is on the price of cash deposits then your only options realistically will be;
Natwest, Lloyds, Barclays, or HSBC...Metro and Santander if they have branches in your area, and then the ones who have arrangements with other banks or the Post Office for counter service like Starling, Coop and TSB.

 

[WaveJumper]

If my son uses the "paying in" machine at our local lloyds for paying cash in and its free. He does it out of spite now even if it causes a bit of a queue out the door.

 

[fisicx]

Local shop near us no longer accepts cash. He said he lost a couple of customers but saved a whole lot of hassle.

 

[Deleted member 59730]

Anything but the Co-op.

 

[Paul Kelly ICHYB]

If paying in cash, high street banks tend to be better, although some challengers may accept via the Post Office.

For accessibility, you cant beat Metro Bank.

 

[DontAsk]

All the major banks can be accessed through the Post Office https://www.postoffice.co.uk/everydaybanking and scroll down to the business section.