Same Bank for multiple accounts?

[lumencreative]

Those of you that have multiple current accounts for your business, so you stick with a single bank or do you have accounts with different banks?

I’m looking to open a second current account for my Ltd Company to help make managing finances a bit easier, but can’t decide whether to just go for a second account with Santander (our current bank) or go with another bank.

 

[Lucan Unlordly]

We had a similar situation and chose to stick with the same bank.

No real benefits other than the telephone banking and online log-ins stayed the same, for a system we knew our way around.

 

[ImranR]

My bank has set up 2 accounts for me. The first is the business current account and the second is a business 'savings account' which has no debit card or anything. I can then move money between the 2 accounts to prevent me spending VAT and Corporation tax before it gets passed to the very nice people at the tax office!..

 

[obscure]

Unless you are getting the account for some specific rate or service (such as access to a zero % for one year overdraft) then it makes sense to stick with the same bank as it will make swapping money around easier.

 

[Chris Ashdown]

I think the integration of the business account to your accounting and maybe e-commerce software should be a strong consideration, all banks offer different software options

Might be better to have different banks if its a risky business venture, so you home bank is out of the area