Business Banking - what do I need to know?

[AdrianF]

I have been investigating a bank for my startup, lots of free for 2 year offers but not much info about costs once I get past that

My business is B2B so relatively few transactions, but hopefully some decent sized ones, t.o. probably wont ever exceed £250k

So who is worth talking to? And what do I need to ask?

t.i.a. Adrian

 

[ITsoldUK]

I have been investigating a bank for my startup, lots of free for 2 year offers but not much info about costs once I get past that

My business is B2B so relatively few transactions, but hopefully some decent sized ones, t.o. probably wont ever exceed £250k

So who is worth talking to? And what do I need to ask?

t.i.a. Adrian

Sole trader or Limited?

 

[AdrianF]

Sole trader or Limited?

Sole Trader as an Associate right now but putting everything in place for Ltd - as soon as I get a proper paying client : Ltd, Bank, Insurances etc can all get sorted

 

[ITsoldUK]

I run everything through my personal account as a sole trader but my transactions do not number that many per month, some banks no likey BUT my name is my company so let them try and stop me...

In the interests of sanity I have 2 'personal' accounts, one for me, one for my trading me...

HTH

 

[brownkane]

You can ask for a list of charges that will be in place after the initial 2 year period. Watch out because even with 'free banking' some banks charge fees for over a certain amount of transactions, or cash deposited. I know that Santander and RBS offered free banking, with BACS transactions free throughout, so they may be worth talking to.

Debbie

 

[cocodude]

My recommendation, if you're considering becoming a member of the FSB, is Co-Operative Banking which is free for a very reasonable limit of translations.