View Full Version : alliance and leicester business bank account

22-04-2005, 04:55 PM
Why on earth do they take ages to open a business bank account???!!! :( I have sent off my application form in the middle of March and after numerous phone calls etc., I just found out the application got finally through to the next 'level' this morning AND I should be hearing from them by Thursday next week at the latest... I wasn't able to proceed with WorldPay never mind speak to the accountant...:( Sorry but it all got too much...Anyone had troubles with them as well?

22-04-2005, 08:55 PM
I havn't got any experience with 'em but i will gladly rant about Halifax who i have been with for over 10 years!!!!

So I got my first bit of funding this week and went into Halifax to open an account. Everything was fine, all fine and dandy until I gave them the launch date! "Sorry we can't open an account that fair in advance, come back a month before around july 1st". SO what am i meant to do about buying things in advance, advance orders (you never know) other business costs etc etc?!!!!!!??????????????????????????????????????

I had a £3,500 cheque to deposit and I got turned away. Are businesses meant to buy everything on their first day of trade?!!!How silly!!!!!

I've got an appointment with the business manager at lloyds tsb on monday-they sounded more promising on the phone and its free banking for 18 months too.

Sorry, didn't mean to sound inpatient however I need to purchase etc in advance like most businesses and Halifax don't get it. So much for awarding loyalty. I may transfer my accounts to one bank make my life easier.

BLERGH rant over.


24-04-2005, 09:11 AM
I have to say, I've banked with the Halifax for years as a personal customer and had NOTHING but problems. They are a nightmare!!

I opened my business account with LLoyds and they have been excellent. It took 2 weeks to open my account, as they said it had to be dealt with in Glasgow and then in Cardiff or something like that. But once it was opened they've been excellent. Would highly recommend.

24-04-2005, 09:47 AM

Here is the extract of a recent report on banks which you might find helpful.

The report, issued by the Forum of Private Business (FPB), shows that Barclays, Lloyds TSB and NatWest are taking the interests of businesses into account far less than their smaller competitors.

A performance league table, based on a survey of 5,000 small businesses, sees these three banks propping up the bottom.

The report shows that despite the stability of the banking industry over the last two years, larger banks are being outshone by their smaller rivals when it comes to interest rates, charges, knowledge of industry, efficiency and reliability.

A significant 40 per cent of respondents banking with Barclays, Lloyds TSB and NatWest had cause to complain.

The report coincides with an award ceremony held at the House of Commons, commending the most favourable banks among small businesses. The awards are to be handed out by small business Minister, Nigel Griffiths, including the Best Bank award, going to the Allied Irish Bank (AIB), and the Best Clearing Bank for Small Businesses, won by HSBC for the fourth report running.

Nick Goulding, FPB chief executive, highlighted the variation in performance, reflecting the need to reopen the Small Firms Domestic Division of the Bank of England.

"It was an ill-judged move by the governor of the Bank of England, Mervyn King, to close the Small Firms Domestic Division, as it immediately reduced the protection the Bank of England can provide to the small business community." he said.

"The report clearly shows a worrying variation in bank performance when dealing with small businesses. The Bank of England cannot turn a blind eye and ignore this. Small businesses need to have the full clout of the Bank of England behind them, to ensure banks play fair and Government prioritises the issues affecting small businesses."

Below is a run down of the report’s bank performance table.

1. AIB
2. Yorkshire Bank
3. Clydesdale
5. Royal Bank of Scotland
6. Bank of Scotland
7. NatWest
8. Lloyds
9. Barclays

One omission from the list is Alliance and Leicester, which picked up the award for startups bank of the year at last month's annual startups awards.

The report goes on to suggest that despite recommendations laid out by the Office of Fair Trading (OFT) on how best to switch banks, there is little evidence of businesses actually doing so.

Goulding said, “There is confusion and lack of clarity with respect to bank charges and interest on current accounts. This suggests that businesses, banks and policy makers must review and clarify the actual terms and conditions being provided.”

Hope it helps with your decision to choose the right bank for you.

Best regards,

24-04-2005, 05:12 PM
Thank you, Joel....I want to believe I am not going to be disappointed with A & L...but ask me later again...;)

24-04-2005, 08:12 PM
My experiance of opening an account with HSBC was very good. I formed a limited company and needed to open an account before the lease of the shop was signed (still waiting on that one!).

Signed up the paper work in the branch and they guarantee that if yo do not receive everything within 7 working days (cheque book, cards etc.) they pay £10 for each faliure. Everything came through as promised, I'm a lot happier using the company account than my own from the point of view of creating a paper trail for the accounts.

I've also got my own business banker and telephone support, it really could not have a better service.

Hope you get sorted out soon.



25-04-2005, 01:10 AM
Thanks Jit...I have got a personal account with HSBC but because I haven't been banking with them long enough they weren't able to open me a business bank account..well, at least that's what they told me...

25-04-2005, 08:18 AM
Nikita.. that's interesting.

I have a personal account with Halifax (who as far as I'm concerned are a bunch of *&%@s). Tried to open a personal account at Lloyds and was told I couldn't because of something on my credit file from (err!) 5 years ago! BUT they were quite happy to open a business account for me.

Can these places not TRY and be consistant!?

25-04-2005, 11:34 AM
I opened a Barclays business account so I'll report back with how I find them :P

25-04-2005, 03:51 PM

Yeah...I find it very inconsistent as well...Sometimes I think it really depends on the bank manager you are going to see...I think some bank managers don't even know themselves all the rules etc., for the account opening or even if they do they tend to either follow or ignore...Whether they like you or not is also the key...I remember once me and my husband went to open two personal accounts with HSBC...My husband who was receiving a disability allowance at that time was given SOLO card straight away...I who at that time just started working part-time as self-employed and didn't have any paperwork to prove was offered a basic cash card...6 months down the line and nothing was changed...I was not entitled...Well, I am about to get my British Passport this year...and sometimes I think wether the single fact of a different passport will make it much easier for me to get a SOLO card straight away...you should have seen the face of a bank manager when two different passports (British and Russian) were put in front of him...so much pre-judice is unbelievable...even though I have a full residency here...and this is not the only case...I don't understand what it is that upsets so many people? Why people think that if you have a Russian passport you must have come from a **** in Russia and have nothing? Why not look beyond that? For example, I've come from Estonia, my parents are quite well-off but the fact that I am a Russian passport holder seems to cover up everything else...Sorry for this long email...just felt like talking...

25-04-2005, 04:59 PM

Wow that's crazy. I've been with the Halifax for 7 years and they STILL won't upgrade my account so I can have a better card than the Solo card. In fact, I recently had my bag stolen and had to apply for a new card. When they sent it, they sent me a Visa Electron which isn't taken ANYWHERE!! It's a nightmare. I put so much money through there account it's ridiculous.

I do think it depends on who you see at the time, etc which is ridiculous. I have a business account now with Lloyds and yet Lloyds wouldn't even allow me onto my partners personal account! Nightmare. I hate banks, I have so many problems with them!

25-04-2005, 07:05 PM
I went into Lloyds TSB today and they were a nice bunch of people. Unlike Barclays (my mum calls them allsorts but i cannot repeat a single word ;) ) they asked me straight away what I wanted from my account.

Barclays tried selling me some kind of software the day I went in to book an appointment-I was quite disappointed that they really didn't give a hoot about what I need they just wanted money...like don't they have enough.

My business relations manager explained everything, and even gave me his mobile number incase I needed to get in contact over anything. And unlike the other banks he saved the freebies until last as he wanted me to tell him if the account was suitable.

I just hope this service stays the same...if it doesn't you's will be the first to know.

Forgot to say Edove, I've been with Halifax since I was 11 years old and there the biggest w£$%^$s I have ever come across! Excuse my french...

25-04-2005, 07:20 PM
LOL!! I'm so glad I'm not the only one that thinks so!

I have had no problems at all with LLoyds so far on the business accounts side and have been recommending them everywhere. My business manager did similar when I started. We'll see what they're like when we're past the 12 months (or 18?) free banking.

As for Halifax.. they topped the biscuit when I had my bag stolen in Barcelona and lost all my cards etc. They have decided they have this new policy of only allowing Cardcash customers to withdraw over £300 over the counter. Of course, I couldn't use the cash machine as I had no card and they told me it would take 10 days to arrive and then wouldn't let me withdraw any money over the counter because I had less than £300 in the account!! I would rather have my money under my bed at the moment.

25-04-2005, 08:41 PM
I have a Halifax card cash account. Have been with them for about 5 years and they just wont upgrade my account.I cant just be bothered with another bank. i just think they are the same and it takes 7days for a cheque to clear

26-04-2005, 08:15 AM
I know what's that all about?? How come every other bank can manage it in 3 days?

26-04-2005, 02:46 PM
this post comes at very good timing...

got a note from A & L regarding free business banking and it is SOOOOO tempting particularly when you see what all the mainstream banks are charging. I am with HSBC and don't need to use many of their services such as business advice helpline etc...am very tempted to switch but after hearing about this need to do a little more research.

26-04-2005, 04:29 PM
edove and Sherry_D I think we should print off this debate and send it off to Halifax HQ and wait for a response so we can learn the art of backpaddling and blagging...because no doubt that's what Halifax will do!

Actually I am tempted to print this and give it to my local Halifax manager...:D

28-04-2005, 07:46 AM
Oooh that's a good idea. I'd love to hear what they'd respond with.. IF they'd respond!

28-04-2005, 05:00 PM
:D right thats my mission for next week.

29-04-2005, 05:15 PM
I applied for a Natwest business account online about 2months ago. they send me a letter requesting my ID. I took all that to my local branch and they faxed it to the business accounts section. A week later i got another e-mail saying they are still waiting for my ID. I phoned the business acc section and they said they had note received them. i was a bit annoyed but i went into the brach for the second time with my ID and proof of address. Then a week late i phoned and was advised my account has been refered to another section and I will get my account details in a week's time. More than a month later (today) I call Natwest and apparently they are still waiting for my ID. I am so angry with them that i have done this twice and they still havent got my ID.

I am giving up on Natwest and just thinking of trying another bank. Its applauling when they do this and they make you seem like a liar

29-04-2005, 05:39 PM
That's outrageous! What is it with these people... these banks have been running for years.

You should try Lloyds. I certainly haven't had any problem with them at all. Quite the opposite.

01-05-2005, 07:40 PM
I was away for the weekend and when I returned my paying in book was already waiting for me even though my business relations manager said it could take up to 2 weeks so I got it within a week!

I even got a call off my business relations manager on Friday to let me know the account was active and if I needed anything to give him a shout.

Lloyds TSB seem nice. I'd recommend them over HALIFAX & NATWEST! Both are PANTS!!!!


12-05-2005, 02:35 PM
Nikita did you get your account open with AandL yet? I too filled out my application in March and still haven't got my account! They did however open me the wrong account - a deposit account when I want a business account so thats delayed things. Its a bit annoying you can only bank in the post office but I'm so fed up of HSBCs charging me for EVERYTHING!

12-05-2005, 02:46 PM

One word - Don't! I have applied in March as well and two days ago I have received a letter of refusal from them! After waiting for nearly 8 weeks and reassuring me everything was looking good, they finally ... changed their mind which now left me in a position of using PayPal! My husband had some financial problems in the past and I think this was a main reason for refusal but I am not happy they made me wait for so long. Very disappointing!!! :(

12-05-2005, 02:53 PM
Nikita.. what a nightmare!!

I have a terrible credit rating from years ago, but LLoyds let me open a business account no problems (although they wouldn't give me a current account.. bit odd!). Apparently their scoring for business accounts is different, maybe you should try them.

12-05-2005, 03:59 PM

Thank you for your advice, will go there this week...

12-05-2005, 04:04 PM
I can't believe they refused you that's terrible!

13-05-2005, 07:23 PM
I must admit, I'm waiting to post a bad post about Lloyds TSB who I have a Business Account with but so far I must admit they've been ace! Plus can't knock the freebies :D