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CJL CJL is offline
Starting Out
Join Date: Nov 2006
Posts: 13
Business Bank Accounts, Recomendations?

Im in the process of choosing who I will bank with and I wondered if anyone had any recomendations at all? I will also need mechant services so preferably one which offers this facility.

Any thoughts?


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TheJoshM TheJoshM is offline
Join Date: Mar 2006
Location: Gloucestershire
Posts: 553
Everyone has different experiences... I think it may be largely down to the staff at your local branch.

We're with Lloyds TSB and the Business Manager at our branch seems pretty good! Spent ages going through our ideas and what we'd need to get started and put us in touch with all the right people.

As for Merchant Accounts, Lloyds TSB Cardnet is £350 set-up plus fees for individual transactions (off the top of my head, 2.5% for credit cards and 38p for debit cards) however I'm sure you'd be able to negotiate this down.

If you're going to be borrowing from the bank then it may be beneficial to go with the one that handles your personal account as you will already have a history with them.

Hope that helps!

All the best,
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The Printed Bag Shop The Printed Bag Shop is offline
Join Date: Apr 2008
Location: Nwewcastle upon tyne
Posts: 116
i use bank of scotland they charge me £25 setup £17.60 per month fee 29p debit cards and 1.9% credit cards.
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hollyyetmore hollyyetmore is offline
Join Date: Sep 2003
Location: London
Posts: 442
I used to use the Abbey business account and found it very good. A nice little pack of things to organise yourself with too (I like folders and envelopes and what-not) but been out of the business loop for a while now so not sure if it's changed. I think you can compare business account on comparison sites like Money Expert...

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Belinda Belinda is offline
Join Date: Apr 2003
Location: Staffordshire
Posts: 655
I bank with Barclays but if they don't sort my online banking out it may not be for long. I also had a merchant account with them but due to fees and a deferred settlement of 30 days I've just moved to Paypals new Webpayments Pro. So far I'm happy.

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tmp tmp is offline
Join Date: Mar 2005
Posts: 65
i find hsbc really good, esp if you do not need a face to face bank manager. They also have free bank tarrif if your transcations fit within their requirements.
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richardh richardh is offline
Join Date: Nov 2006
Posts: 246
Used to bank with Lloyds and used Cardnet. I'd swear blind they were the best bank ever...

... until i got a different manager.

The first one would bend over backwards to help me out - listen to my ideas/plans and offer constructive criticism and her own ideas, introduce me to other bank customers to do business with them, be available via mobile phone, help push through the "risky" decisions when "COMPUTER SAYS NO!", help me wangle my personal accounts if i had problems and so on.

When she left (promoted ) the next one i got kept trying to sell me bank products and wasn't really "on my side". Then i got a new guy... who was just a boring-bank-manager stereotype .

I think it's all about the manager you get, how well you get on with them and their attitude etc. Why not see lots of banks and interview them all... and try to find someone you click with.
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eco2you eco2you is offline
Join Date: Apr 2008
Location: Cornwall
Posts: 856
I went with Lloyds TSB, they were at a course I did, and I mentioned that I had a default on file from a non payment to vodaphone in 2002, the guy was good, and did open me a proper business account.

I have however realised that they won't offfer me any kind of bridging loans, or any kind of finance, and each time I call I seem to get routed round to some Bank Manager on a phone, not the guy who orginally helped me out.

They send texts every morning to my mobile for free, showing my balance and last transactions.

I'm sticking with them until my free banking runs out, or until I get the time to apply for the Co-op who do a really good deal, and of course are more ethical.
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James Smith's Avatar James Smith James Smith is offline
Join Date: Mar 2003
Location: Abingdon, Oxfordshire
Posts: 2,044
Richards experience's just about sum up why I always state in these sorts of threads that its pot luck.

Happened to me several times - the good ones get promoted in 6 months to large accounts.............and even if you have a larger account (I used to be the accountant in quite a large group where all the figures where in round thousands) they still disappear after a while and you end up with generic disservice..
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