What is a good bank to be with

Other than Santander. Is HSBC, Natwest good ones?

 

[DaveSUK]

Iv used Barclays since 2000 for some reason when I applied in 1999 they said they wouldn't open the account until I had a one year track record so went with Natwest for the first year, Used 12 months of their 18 months free banking then moved to Barclays.

Which bank accout is right for you would depend on the services your going to use. If you want a credit card terminal instead of judging the bank on their account charges look into their merchant account fees and features, if your interested in accepting forign currency look into their charges for this account and so on.

It would also depend on whether your a sole trader, partnership or limited

 

[strikingedge]

Invite them round for a chat and meet them!

A good business banking team will have a local presence and should be delighted to pop by.

Then pick the one you feel best understands you business and you'd be happy working with.

Business banking isn't just about cashing cheques - its probably the most important relationship you're business will have.

 

[Simon Johnson]

After four years of being throttled by HSBC's lack of lending appetite, my recent move to Natwest has been a breath of fresh air.

 

[Omniquito]

I think that you may get good and bad stories from everyone about every bank....

However I will add my bit, HSBC seem to be very good. Granted I have not asked for any lending yet but the online banking is great and easy.

I send a lot of money to China and it works like a dream with a few clicks and not that much in fees.
I have met my local small business advisor at the branch and she was helpful too.
Merchant services were quick and easy to setup too.

 

[Scott-Copywriter]

I've been using Lloyds and I've had no issues so far. It's been great since they've moved to real-time banking and eliminated that 3-5 day wait.

The only issue I've had is when I wanted a back-dated statement and they said it would cost £10 per sheet. I went to Halifax and the bloke printed them out for me on a Laserjet and even stapled them for me. Nice fella.

I actually went into Lloyds all babyfaced with a 2 day old business, and after asking me some basic questions I was given a business account. I thought this was the norm until I heard that many people were asked for proof of sales and all sorts.

 

[liquidauctions]

If you use post office to depoist you payments you dont get charged, you can have a business account with anyone. I think their are limits to it but my postmaster doesnt limit my deposits

 

[strikingedge]

Its much easier to get a business bank account and a loan (usually they match the fund you put in) with absolutely NO trading history - than with a business with some trading history.

Once you've got sales and accounts, they'll pore over them in great detail and find all sorts of problems!

HSBC - we borrowed a good sized sum under the EFG scheme....it took 4 months, despite having "the best business plan we've seen", the amount was affordable and the company was in profit after 3 years.

HSBC are a really hard sell even with the above, so wouldn't bother with them if you've just started trading and are in loss.

 

[papverpoppies]

They are all good, when you are a well behaved customer, and keep your account nicely in the black!

Mr and Mrs meany come out, when you start to ask for their help ie to borrow money.

Weigh them all up and see which works best for you.

Always remember though, what they offer today - they can take away tomorrow.

Poppy

 

[Lynelle]

Does anyone know of a bank that has internet banking for Euros accounts on line. I am in France a lot and need to often check transactions. natwest do not have this service and everytime I call they put me through to the wrong department or hang up, its so annoying.
Thks:|

 

[Brisheff]

I've shopped around, which is a good thing to do if you're a new business looking for your first ever bank, and I've decided out of all the banks I've looked at NATWEST is the best. They are the only bank that offers 2 years "FREE" business banking to new businesses.

 

[bdw]

I was with the RBS who were terrible! About two years ago I decided to move to the Alliance and Leicester Commercial bank, which offers free banking and higher interest rates than most. I have not regretted this. The folks at A&L have been brilliant and I would have no hesitation in recommending them. Have a look.
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[Lynelle]

I've shopped around, which is a good thing to do if you're a new business looking for your first ever bank, and I've decided out of all the banks I've looked at NATWEST is the best. They are the only bank that offers 2 years "FREE" business banking to new businesses.

Thanks but when I joined only had 1 years free banking, as I live abroad and operate a foreign currency account which does not have on line banking so have to call nearly every transaction I have to say that business line direct has a bunch of incompetants working for them.
In the beginning with transfers even though it was clear to be a standard transfer they insisted on sending it priority which cost me more each time, this was pointed out to them at least on 4 occassions and they continued after that till I ended up blacking out completely on the faxed form the priority transfer box. They put me through on the phone continually to their internal numbers where I am not supposed be unless I am from the RBS. This can happen consecutively 4 calls in a row. This is typical of Direct business banking with Natwest. Natwest Bank also supports animal testing and I dont.

 

[Roj]

I have used Cater Allen (part of Santander) since I started my company in 1996 and have never paid a penny in bank charges. (except when cashing a US dollar cheques).
I took great delight in telling Barclay's this when one of their telesales people phoned yesterday and said they could save me money on my business banking.

 

[Scott-Copywriter]

I was with the RBS who were terrible! About two years ago I decided to move to the Alliance and Leicester Commercial bank, which offers free banking and higher interest rates than most. I have not regretted this. The folks at A&L have been brilliant and I would have no hesitation in recommending them. Have a look.
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A&L were my first choice but their nearest branch is 7 miles away!

 

[bdw]

My nearest A&L is about 18 miles away but you don't need a branch. You can do all your banking online and through the post office. Personally I just pop my cheques into an envelope (which they provide) and send them to them. I have never had a problem with this.

 

[Scott-Copywriter]

My nearest A&L is about 18 miles away but you don't need a branch. You can do all your banking online and through the post office. Personally I just pop my cheques into an envelope (which they provide) and send them to them. I have never had a problem with this.

That's true but I still prefer having a nearby branch so I can pop in if there are any issues.

Also, I've had to withdraw large sums of cash before which called for a trip to the branch.

A&L should really open one up here. It's the main shopping area for miles around until you reach Newcastle and Sunderland. Lloyds have two here about 50 meters apart!

 

[Matt1959]

My nearest A&L is about 18 miles away but you don't need a branch. You can do all your banking online and through the post office. Personally I just pop my cheques into an envelope (which they provide) and send them to them. .

this is what my wife does - I cannot believe such an antiquated way of managing a bank account still exists - popping customers cheques in an envelope and posting them to the bank

There doesn't seem any pattern as to which bank is best and all opinions seem down to personal experiences. Myself for example am with NatWest, this account since 1990 and I cannot fault them.

 

[bdw]

I cannot believe such an antiquated way of managing a bank account still exists - popping customers cheques in an envelope and posting them to the bank

The alternative to me is to waste time that I cannot afford going to a post office or an A&L branch and standing in a queue witing for service. Rather than being "antiquated" I think what I do makes much more sense and it is certainly more convenient.

Perhaps not the solution for a larger business with many checks but it works well for me and the A&L provide a superb service. Why would I (or your wife) want to change?

 

[Matt1959]

Perhaps not the solution for a larger business with many checks but it works well for me and the A&L provide a superb service. Why would I (or your wife) want to change?

not speaking as the owner of a large business btw but one glaring reason to change is that when the cheques go into the post box, theres no guarentee they are going reach their destination which is damn awkward if you need an account credited sharpish not to mention the hassle of contacting a number of customers to ask for another cheque as they've gone missing in the post. Rare I know for stuff to go missing but its the last thing you'd want with some payment cheques..mind you, a stamp is far cheaper than driving, parking and walking to the branch though that is the method I would prefer as you control every aspect

 

[bdw]

theres no guarentee they are going reach their destination

I have had no problem in the last two years and I have a system in place to cover this eventuality if it does happen.

 

[garyk]

there is no such thing as a 'good' bank, seriously, its just one might be less crap than the next. I'm with A&L commercial, they're ok I have small issues with them but they average. Been with barclays, average, natwest, shocking, hsbc, average.

 

[Richie N]

We're with HSBC and are happy with them...

 

[MASSEY]

Other than Santander. Is HSBC, Natwest good ones?

all banks have streams of people slagging them off all over the internet it apears A&L and santandar are the two main ones to avoid, but like other people have said here it depends what services you require for you business account.