HSBC Free business banking

[alisonellerbrook0]

I'm coming up to the end of my 12 months free banking with HSBC so I went to the branch today to have a chat regarding my options.

Turns out that in response to the free banking that Abbey and Alliance & Leicester have been offering HSBC have just launched their own similar service but are currently keeping it a bit hush hush! It's for online/telephone banking, but you can still use the branch to pay in etc...

I just thought I'd share this with the forum particularly for those who are currently with HSBC as you may be able to switch over to this account as this is what they are doing for me at the end of my 12 months (nothing changes as far as I'm concerned except I won't be liable for those big fees).

Obviously there are certain criteria - 30 free cheques paid in per month then 50p, turnover below £500k etc... but for an online business like mine, it's perfect.

It's called Business Direct, details are here - http://www.hsbc.co.uk/1/2/business/a...usiness-direct

Hope this is of use.

[James Smith]

Thats a very interesting development. Competition is a good thing!

This might well be a good account for people with occasional cash incomes that do need branch access that therefore cant use the Abbey/A&L acccounts.

Do you know if you HAVE to go to the branch to deposit cheques? Or do they offer a postal service?

[alisonellerbrook0]

James,

Not sure if they offer that postal service, it doesn't mention it on the bumpf I've got, but you can pay cheques in at cash machines which I do already.

Apparently it was only launched a few weeks ago and they aren't keen on promoting it.