Opening Business Bank Account with Barclays, Advice please?

[MitchVernon]

Hello all, I've been advised to open a business bank account to accept cheques. So i've signed up with Barclays and have a meeting tomorrow. The problem is I don't have a clue what to expect at all. Is it usually formal, like should I wear shirt and trousers? Will she be throwing me loads of questions? All i'm bringing is ID, bank details, letterhead. Does this sound right?

I'm starting a leaflet distribution company, it will only be me to start with(have a couple of helpers ready if things get too much, they will be employed on a self employed basis) and I have next to none start up costs so don't need any money. Im currently in evening education and am planning to get a degree next year so really it's only a way to make money this year, but if I get enough interest I might try to get it to a size where it can run itself.

Any help will be appreciated!
Many thanks,

 

[Posilan]

Hello all, I've been advised to open a business bank account to accept cheques. So i've signed up with Barclays and have a meeting tomorrow. The problem is I don't have a clue what to expect at all. Is it usually formal, like should I wear shirt and trousers? Will she be throwing me loads of questions? All i'm bringing is ID, bank details, letterhead. Does this sound right?

I'm starting a leaflet distribution company, it will only be me to start with(have a couple of helpers ready if things get too much, they will be employed on a self employed basis) and I have next to none start up costs so don't need any money. Im currently in evening education and am planning to get a degree next year so really it's only a way to make money this year, but if I get enough interest I might try to get it to a size where it can run itself.

Any help will be appreciated!
Many thanks,

Just be yourself and don't worry, just wear your every day "business" clothes

They will ask you for your business details (name address etc) and what it does. Also if you have any projected turnover etc and what types of payments you take (bacs, cheque etc).

Take two proofs of ID (personal) and business ID if you have it. Should only take 15 minutes and your account is normally open and ready in a couple of days.

Steve

 

[JamiePMortimer]

Yea, Steve is spot on. My wife opened her own business account with HSBC & was worried that she'd be interrogated about everything, but said it was just as simple as opening a personal account.

 

[MyAccountantOnline]

Hello all, I've been advised to open a business bank account to accept cheques. So i've signed up with Barclays and have a meeting tomorrow. The problem is I don't have a clue what to expect at all. Is it usually formal, like should I wear shirt and trousers? Will she be throwing me loads of questions? All i'm bringing is ID, bank details, letterhead. Does this sound right?

I'm starting a leaflet distribution company, it will only be me to start with(have a couple of helpers ready if things get too much, they will be employed on a self employed basis) and I have next to none start up costs so don't need any money. Im currently in evening education and am planning to get a degree next year so really it's only a way to make money this year, but if I get enough interest I might try to get it to a size where it can run itself.

Any help will be appreciated!
Many thanks,

Remember you are the customer

Just be yourself - it'll help to take the items you've mentioned but you can easily let them have anything else they'll need.

I suspect you'll find the meeting will be about trying to sell you various 'other' services rather than just opening a bank account Dont feel pressured.

 

[MyAccountantOnline]

.....and you're very unlikely to even see the person you open the account with again - long gone are the days when people had a bank manager!

 

[10032012]

Avoid Barclays. I had nothing but problems with them.

 

[MitchVernon]

Avoid Barclays. I had nothing but problems with them.

What problems? I just want the absolute basics, just to accept bank transfers and cheques etc.

 

[10032012]

Hello all, I've been advised to open a business bank account to accept cheques. So i've signed up with Barclays and have a meeting tomorrow. The problem is I don't have a clue what to expect at all. Is it usually formal, like should I wear shirt and trousers? Will she be throwing me loads of questions? All i'm bringing is ID, bank details, letterhead. Does this sound right?

I'm starting a leaflet distribution company, it will only be me to start with(have a couple of helpers ready if things get too much, they will be employed on a self employed basis) and I have next to none start up costs so don't need any money. Im currently in evening education and am planning to get a degree next year so really it's only a way to make money this year, but if I get enough interest I might try to get it to a size where it can run itself.

Any help will be appreciated!
Many thanks,

They will try to get you to sign up to a monthly banking package (so much for free banking). They will assess your business so very briefly and recommend a trial month. Apparently there is no such think as a business bank account with Barclays they actually have about 6 different types of business accounts - of various charges.

If you don't want a credit card you will need to make this clear and be cautious of forms they get you to sign.

Be assertive - know what you want and don't be afraid to say no to kind suggestions. It wont be no hard sell or scary bank manager... they will try to get you on side though by acting as if they were your friend (then soon as you get your account you will find it hard to get in contact).

 

[10032012]

What problems? I just want the absolute basics, just to accept bank transfers and cheques etc.

I done many posts on this subject... quite hard to find. one is as follows:-

http://www.ukbusinessforums.co.uk/forums/showthread.php?t=258982&highlight=barclays

 

[David Griffiths]

Avoid Barclays. I had nothing but problems with them.

For any bank you will find people who have had a problem

You will find the same number of people who are pefectly happy with that bank.

That's life. The only difference is that those who are unhappy make more noise.

 

[MitchVernon]

They will try to get you to sign up to a monthly banking package (so much for free banking). They will assess your business so very briefly and recommend a trial month. Apparently there is no such think as a business bank account with Barclays they actually have about 6 different types of business accounts - of various charges.

If you don't want a credit card you will need to make this clear and be cautious of forms they get you to sign.

Be assertive - know what you want and don't be afraid to say no to kind suggestions. It wont be no hard sell or scary bank manager... they will try to get you on side though by acting as if they were your friend (then soon as you get your account you will find it hard to get in contact).

Cheers, i'f i'm not completely happy with what i'm getting i'll just tell them, walk off and try another bank