Free Business Bank Account?

[pete12345]

Which banks offer free business bank accounts for life?

 

[FordMan]

Lloyds TSB offered me a business account in September, they said it was completely free but I found out later it was only for the first 18 months. Come to think of it, I need to cancel it seen as I've never really used it. (0.08p interest built up, yaa!)

 

[internetspaceships]

You're running a business lads, it costs money to bank. It's a fact of life I'm afraid.

 

[itboffins]

I have a client who banks with the Co-Op Business Banking, they seem to have to write out quite a bit for depositing cheques but my client says it is free banking and saves him a fortune....

 

[a1anm]

We opened one recently with HSBC which has 12 months free banking.

However, for us it should be basically free for life as we are online only so don't really deal in cash which is where most of the costs creep in.

 

[internetspaceships]

We opened one recently with HSBC which has 12 months free banking.

However, for us it should be basically free for life as we are online only so don't really deal in cash which is where most of the costs creep in.

Not really, you get charged a fee per transaction. Yes the fees for depositing cash are enormous, but the fees still still add up on a "per payment" basis by other means.

 

[10032012]

When I got a free banking account... I ended up paying £35 for having a direct debit fail. Yes, in their T&Cs... as a non-standard charge etc. what annoyed me was it was their fault that there wasn't enough money in the bank to cover it... (I wont go into it, account problems) and that it would have been cheaper for an overdraft... How can this be just? Costs more for them to refuse to honour a direct debit due to insufficient funds... then it would for them to have paid it out in full of their money for me to pay back. crazy!

 

[a1anm]

Not really, you get charged a fee per transaction. Yes the fees for depositing cash are enormous, but the fees still still add up on a "per payment" basis by other means.

Mmmm, I'm not sure if we do. They told us we wouldn't have any fees (apart from international transfers). Will need to check the documents again.

I know we have no fees at the minute with Santander. We just think their customer service is terrible so want to switch.

 

[a1anm]

Just checked and this is the account we have with HSBC. Don't think we will have fees for what we will be using it for:


http://www.business.hsbc.co.uk/1/2/...ssionid=0000QEcq6Ga4PlG4n-KCK4OSbTU:12c5n7nsr

 

[internetspaceships]

Just checked and this is the account we have with HSBC. Don't think we will have fees for what we will be using it for:


http://www.business.hsbc.co.uk/1/2/...ssionid=0000QEcq6Ga4PlG4n-KCK4OSbTU:12c5n7nsr

Sure that does look free to me, apart from cheques. Unfortunately I don't qualify for that service.

 

[Rhyl Lightworks]

I have an account with HSBC and asked to be put on their internet banking fees scale. Consequently my charges are very low. They do charge a lot for paying in cash, but if you pay in cash to a personal account, which is just used for this purpose and then transfer the money to your normal business account, you avoid paying any fees for this.

The banks are aware this goes on, but according to my business manager, turn a blind eye to it.

Barrie

 

[BusinessTeam]

Would recommend Santander, free banking and if you do most of your banking online you should not have ay problems.

Richard

 

[antoine82]

If you register with the FSB you have free banking for life.

 

[Dot Design]

I'd also recommend looking at the CoOp bank, been with them 6 months, free banking and interest on balance. User interface on the online banking site isn't to hot but everything else has been spot on so far.

I joined via membership to the FSB, think it's free banking up to first £4k you despoit each month and then an fee after that.