Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Crystal-clear on July 02, 2013, 05:23:41 pm
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It happens from time to time normally when I pay in more cheques then usal , this time she said you MUST open a business account to continue . Or they will write to you and close your account down lol... So I said look , I'm self employed small company and said i trade under my name,I have no real need for one if I was forced into It I would forever seek free banking every 2 years so don't fancy the rigmarole, also said that I don't want to pay them .80p a cheque or what ever els it is on other deposits , don't want to pay the bank pointless charges I don't need , told her I can't be alone that I'm sure many other self employed use private account , she said no , and she will call head office to force me to open one , my good god..... Sounds like a tax on the self employed would they really ask me to take my money els where ? or is she just trying to be sales woman of the year?
Any other arguments with cashiers would love to hear them also what's everyone's advice , I don't really want to open a bussniess account maybe I will later but now I'm happy the way things are going
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Have they got one of the automatic paying in machines?
If its ever broken and I'm paying in cash they always try the hard sell while they're processing. Soon as I've got my ticket stamped I'm out if there...mid pitch sometimes. ;D
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I have free banking with Santander. You can get one with co-op as well through FSB.
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Yes I did use the box for ages but one day they didn't bank them after 2 days I went to the bank got harassed again they said didn't bank then cos you need to open a bizz account they said last time i said ok..thought this was crazy but don't want to pay them .80p a cheque!
that time one of there guys called me 3 times I didn't return his calls and for the last year I've been going into banks which are busyier but today it wasn't busy pluss quite a few cheques and she had time to have a whine at me,
Do I really have to open one or are they just trying there luck is she bluffing?
If I refused would they really prefer me to take my money and savings els where over a bussniess account I don't want
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Yes you should have one. Also it's not .80p a cheque and you will get the first 2 yrs free banking.
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Don't know if they'd prefer you to leave but they will be looking at how much money you make them compared to what you cost them.
If you don't go overdrawn over your overdraught, default, get fined etc they will be thinking that you make them no money but cost them by putting cheques in.
As mentioned-have you thought about putting cash into the account you've got (they won't question that) then putting just your cheques into a free business banking account like Santander? Wait the week for them to clear then BACS across? Might be the way forward if they give you an ultimatum.
Or...if they 'force' you to open a business account 'or else...' Call their bluff-pull out all your paperwork, id etc and close every account you've got there.
Then they will (probably) try to claw your business back. It's up to you if you want to stay but you could let them calm you down and then say "ok, I'll stay-but that's the last I want to hear about business banking, Santander/NatWest/Lloyds are offering very attractive accounts..."
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They cant make you. Its not a legal requirment
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Natwest. When I came here to the UK 8 years ago I got an abominable counter service from them. I've never ever been back in there.
They cant make you. Its not a legal requirment
Perhaps not, but it's still in their terms and conditions. Meaning they can close your account if your breach their T&Cs. Happened to me with HSBC.
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They cant make you. Its not a legal requirment
True. But they can close your account.
They are not a charity offering their services for free.
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I think you may need to read your terms and conditions.. They do have the right to close the account down if you are not using the account appropriately, which if you are an anal bank clerk/manager will say you are doing..
Whether or not they would is another thing..
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some counter staff are vigilantes . i never pay in more than 5 cheques at a time after i was accused of money laundering .
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My bank has just relocated into the precinct, all open plan and lovely.
Take cash in though and they huff and puff about the amount and take it around the back to count it for security reasons.
Progress. My charges are paying for the relocation, joke.
Business account in Antony Lee. Cheques made out to Tony or T. Lee also seems to cause a melt down of sorts.
Bloody cheques.
They have offered to supply my Gas and Electric in the past but looked at me funnily when I refused but asked for 2 apples and a pint of semi skimmed.
I hate banks, just robbing dogs.
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Clydesdale bank closed my account years ago for putting in to much cash and not having a business account lol Santander all the way now lol
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Completely the opposite experience for me. I bank with the Natwest, a business account because I run a business. Yes I pay for the privilege of paying in cheques etc but I'm more than happy with the service I get at my local branch. All cheques are made out to my companies trading name, which bares no resemblance to my Limited company (and account) names, never had a problem. I can also pay in cheques made out to me by name, never a problem.
I'd recommend the Natwest, but I guess people's experiences will vary from branch to branch.
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quite happy with my nationwide building society current account.
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I'm with NatWest. Many years ago they tried the same thing on me. It wasn't convenient for me to move to the Co-op (although I'm a longstanding FSB member) so I told the manager I wasn't happy with their business account charges and wouldn't pay them.
We negotiated and agreed on a fixed monthly fee which was much less than my charges would have been, but more than they were getting from my personal account.
Over the years they have gradually increased my fixed fee, but no more than would be justified by inflation.
I have the advantage of knowing exactly what my monthly charges will be and I still have the option of changing banks (we now have a Santander in town) should they try to revert me to a 'charge per item' arrangement.
Talk to your bank - you might be pleasantly surprised.
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I dont think we should let the bankers dictate our business need.If I was told to have a business a/c I would wait for the letter. WHEN THE BANKS START TO OFFER A SMALL BUSINESS A/C I will consider going with it. The forceful way of getting you to go with there sale of a account is what going banking into a bad publicity the first place.
Any teller saying I must open a Business A/C will get only one answer " Let me start the ball rolling by cancelling my account and write to the banking Ombudsman and conveying your sales methods". will be my only response.
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Tell them the cheques are personal use.
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They are developing software now that will allow you to photograph the cheque, and sending the details electronicaly,
so you don't even have to go to the branch !
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Cant understand anyone running a business not having a business account ??? ??? ??? . Mike
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Cant understand anyone running a business not having a business account ??? ??? ??? . Mike
Nor can I.
I go for my haircut, I expect to pay.
I get my car valeted, I expect to pay.
I get a taxi home after a night out, I expect to pay.
I don't understand why using a bank is any different. They are simply a profit making company offering a service....for a cost.
I don't understand the mentality of people expecting to receive free business (or personal) banking. Am I missing something?
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They are developing software now that will allow you to photograph the cheque, and sending the details electronicaly,
so you don't even have to go to the branch !
Already available for some US banks. Amazing innit.
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Ill see what happens , I'm guessing they are going to call me again as that woman seemed on a Mission,am expecting them to be forcful too,I kept it like this cos, its easy , and free I don't want to waste money on something I don't need
looks like I will have to open one but will seek the best offer, once there free banking expires
Ill have to keep updating details , those who are happy to pay how much does it end up costing with natwest a month on your average month ?
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Cant understand anyone running a business not having a business account ??? ??? ??? . Mike
Nor can I.
I go for my haircut, I expect to pay.
I get my car valeted, I expect to pay.
I get a taxi home after a night out, I expect to pay.
I don't understand why using a bank is any different. They are simply a profit making company offering a service....for a cost.
I don't understand the mentality of people expecting to receive free business (or personal) banking. Am I missing something?
theyr money grabbin , same as the royal family. iv shelled out for enuf royal weddings in my time thank you
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My local corner shop are money grabbers too.....so I don't shop there, simple really.
If a certain bank is 'money grabbing' then don't use them, simple as that. They are just offering a service, not forcing you to use that service.
I'd be surprised if you (Robertphil) have ever had a bank account. You are so distrusting of anyone and everyone you probably sleep with your money under your mattress whilst keeping one eye open incase an ex customer or employee is coming after you.
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I think it's £25 a month for the set fee and then it doesn't matter how many cheques you pay in. Or you can pay per transaction.
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I go for my haircut, I expect to pay.
( I cut my own use clippers saves a fortune over the year)
I get my car valeted, I expect to pay.
(I washed it my self when I had it now sold it as have no reason to have it got A girl friend 6 years don't need to impress her Anymore dirty vans just fine)
I get a taxi home after a night out, I expect to pay.
(I'd rather get a night buss or a train/tube, not going to get ripped off by a taxi mate here in london if we can help it we won't chuck money at taxis lol!
and i don't like being muged off by the bank if i dont need to be ,who have pretty much muged off the contry ,
Looks like ill have to open one maybe it won't be as bad as I think it is !!!!;)
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I think it's £25 a month for the set fee and then it doesn't matter how many cheques you pay in. Or you can pay per transaction.
£25 for an easy life I might just do that, ill make sure to bank pooploads of cheques with my new show off green light account lol!!
£300 a year expensis that I didn't need but sod it!
At least this way I can go to my local who were the worst at freaking out still have the first 2 years free so it ain't that bad
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Dont use natwest for business ! I was getting around £35 a month charges ( i still dont understand why),I use santander now,had free banking for a year ,now pay £7.50 set rate ,they have paying in machines outside so rarely need to go in the bank,but when i do i find the cashiers are really slow compared to natwest .
Same as you i felt bullied by natwest to use business banking .
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Dont use natwest for business ! I was getting around £35 a month charges ( i still dont understand why),I use santander now,had free banking for a year ,now pay £7.50 set rate ,they have paying in machines outside so rarely need to go in the bank,but when i do i find the cashiers are really slow compared to natwest .
Same as you i felt bullied by natwest to use business banking .
Cool, do they charge you to transfer your money once a month to your personal £7.50 is happy
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If a custy said I want my conny roof cleaned 3 times a year for free would you do it for free? Like #### would you. You run a business you need a business account, get over it and worry about more important things in life.
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If a custy said I want my conny roof cleaned 3 times a year for free would you do it for free? Like #### would you. You run a business you need a business account, get over it and worry about more important things in life.
Haha fair enogh;)
£7.50 a month no more ;))) lol
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Dont use natwest for business ! I was getting around £35 a month charges ( i still dont understand why),I use santander now,had free banking for a year ,now pay £7.50 set rate ,they have paying in machines outside so rarely need to go in the bank,but when i do i find the cashiers are really slow compared to natwest .
Same as you i felt bullied by natwest to use business banking .
Cool, do they charge you to transfer your money once a month to your personal £7.50 is happy
I have my business and personal accounts on the same login account ,i rarely need to transfer between the two unless one account is getting dry ,but i presume its free .
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Cant understand anyone running a business not having a business account ??? ??? ??? . Mike
Nor can I.
I go for my haircut, I expect to pay.
I get my car valeted, I expect to pay.
I get a taxi home after a night out, I expect to pay.
I don't understand why using a bank is any different. They are simply a profit making company offering a service....for a cost.
I don't understand the mentality of people expecting to receive free business (or personal) banking. Am I missing something?
None of these are a proper analogy. I generally having a running balance of a few k in my business account for emergencies. The bank in turn lend that out at 8% . They are making £160 a year from MY money. The hair dresser can't sell your split ends, the taxi driver can't sell your regurgitated sat night kebab.
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If a custy said I want my conny roof cleaned 3 times a year for free would you do it for free? Like #### would you. You run a business you need a business account, get over it and worry about more important things in life.
Again, not a proper analogy. The bank gears up and lends out whatever you have in your account. As I understand it they need to only hold about 10% of what they lend out, the capital adequacy ratio, so my 2k becomes 20k at 8% pa = £1600. Don't feel sorry for the banks.
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£7.50 is very good might have to change when my free 2 yrs is up.
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If a custy said I want my conny roof cleaned 3 times a year for free would you do it for free? Like #### would you. You run a business you need a business account, get over it and worry about more important things in life.
Again, not a proper analogy. The bank gears up and lends out whatever you have in your account.
That is my view too its annoying thou but to save arguments with cashiers , ill have to fold to it , the other post made sence get over it a few quid a month for an easy life makes sence I feel like paying that parking ticket that I didn't feel was fair but couldn't be botherd to fight it in court,
if only everyone stuck together or if everyone was like me then we would have free banking as they can turn one away but they can't turn away everyone !
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If a custy said I want my conny roof cleaned 3 times a year for free would you do it for free? Like #### would you. You run a business you need a business account, get over it and worry about more important things in life.
Again, not a proper analogy. The bank gears up and lends out whatever you have in your account.
thats right, if you've a couple of grand sat in an account, for the sake of argument, then the bank earns on it, they certainly don't pay any interest out on it - bank charges can be outrageous - some though seem to like the prestige of having a business account, they talk about putting expenses through 'the company' even though 'the company' only really trades a few hours a week and turns over a couple hundred quid ;)
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Lol so if we all stuck together they won't be able to make money off us at 8 bloody percent some buy to let's are less then 8% gross the bank do have a nerve they make money of us then charges and bully small buissness to spend more money with them so in effect they are making money from us and charging us!!!
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Just had a quick butchers at my bank. For a 2k loan they want 12%.
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There is no such thing as "free banking", the bank hold on to your cheque for a week, and gain interest on that money, and if you go overdrawn on your account you will be hammered with charges that work out more costly than Wonga !
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@Davids3511
Your right, how dare they make a profit on our money, they should be looking after our money and making multiple daily transactions for us all for free. Just like we should be offering our services at cost price.
A private company that aims to make a profit??? Whatever next?
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@Davids3511
Your right, how dare they make a profit on our money, they should be looking after our money and making multiple daily transactions for us all for free. Just like we should be offering our services at cost price.
A private company that aims to make a profit??? Whatever next?
well they could, for a start, pay back the money owed to the British public that was given to them to help prevent their profitable money fiddling scam business folding (how much of it do we own 70/80%?)
after that they could try building a solid business based on customer service and not antagonizing customers (without customers they are nothing)
not many folks expect anything for free but they all ready get plenty to invest, if only they would properly
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@Davids3511
Your right, how dare they make a profit on our money, they should be looking after our money and making multiple daily transactions for us all for free. Just like we should be offering our services at cost price.
A private company that aims to make a profit??? Whatever next?
well they could, for a start, pay back the money owed to the British public that was given to them to help prevent their profitable money fiddling scam business folding (how much of it do we own 70/80%?)
after that they could try building a solid business based on customer service and not antagonizing customers (without customers they are nothing)
not many folks expect anything for free but they all ready get plenty to invest, if only they would properly
Hehe nice post ;)
I like it!
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@Davids3511
Your right, how dare they make a profit on our money, they should be looking after our money and making multiple daily transactions for us all for free. Just like we should be offering our services at cost price.
A private company that aims to make a profit??? Whatever next?
well they could, for a start, pay back the money owed to the British public that was given to them to help prevent their profitable money fiddling scam business folding (how much of it do we own 70/80%?)
I realise Natwest are a part of RBS (and so part owned by the public) but did Natwest do anything wrong or play a part in the whole RBS cock up? I'm not sure they did.
after that they could try building a solid business based on customer service and not antagonizing customers (without customers they are nothing)
This will vary depending on branch but I have 0 complaints. Banked with them for 30 years personal and 8-9 years business. I've received a good service on the whole. I've had worse experiences with nationwide and Santander.
not many folks expect anything for free but they all ready get plenty to invest, if only they would properly
It seems to me that most folks in this thread do expect free banking. That's the part I don't understand. I don't get other services for free, why is banking any different?
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so why a personal bank account free then? am with lloyds for my personal account ive never paid a penny to them.. they welcome my money cash that i put in.
But if i want to go and open a business account i get stonked on every bit of cash or cheque i put into the account ???
they make a enough out of the money you put in and the chargers they add onto you if u miss payments or direct debits as it is!! yes have had millions n millions of tax payers money to keep them running!! then stonk us with chargers for it ???
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Deeege, crystal - I find banks really annoying, we've no choice , we have to use them & they try to control our every move, like a slave master & for that reason I wish i could say ' I'm out' but of course I can't they've got me by the mortgage short n curlys, plus where else can I put my readies 'safely' . Banks have too much power & we don't really have any choice :'(
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banks have no need to charge anyone for the privilige
of you entrusting with it infact they should be paying a fee
for having to do no more than sit there and accept your money.
do you not think that banks make money out of the cheques
that they are priviledged to have recieved from you before they
decide its okay for them to release the funds that they have
been holding onto which are yours into your (god im so lucky to have one
::)roll) account.
overdrafts loans etc fair enough but charging for the privilige of you
entrusting them with YOUR money its a joke
ir i clean a conny i charge once i dont go back when ive finished
and tell the customer ive used 40 more brush strokes than i thought
so i would be charging them for it.
some people really are brainwashed by
the banking system
most feel they have to deal with because of convenience
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my first 2yrs in this biz i ran it cash only, no cheques . it only nearly burned me out the collecting was gruelling , i was on the road 24-7 like a bleedin taxi
these days i never pay in at the counter,i always use the slots and find the Halifax and the Nationwide to be the ones who dont ask questions ,especially nationwide
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@Davids3511
Your right, how dare they make a profit on our money, they should be looking after our money and making multiple daily transactions for us all for free. Just like we should be offering our services at cost price.
A private company that aims to make a profit??? Whatever next?
I never said they shouldn't make a profit. If you have to misquote me your argument must be gash.
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I am afraid I agree with the cashier on this one. You are running a business you should have a business account. It does not have to be a negative thing though. Make an appointment to see a few business managers at a few different banks, write down what you want from your bank; free cheque deposits, free overdraft, direct dial to a manager, that sort of thing. See which bank offers the best options for you and negotiate with them. Banks are just money shops, if a shop stops stocking what you want you go to a different shop.
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Does a business account offer you anything that a personal account does not?(other than charges)
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Does a business account offer you anything that a personal account does not?(other than charges)
Yes. Admittedly banks can be useless sometimes but I have no problems with mine. Santander for example were a joke; 'free banking' my arse.
I am now with RBS who offer a good service at a reasonable rate with decent benefits. It's all about negotiating the right deal for you and for them.
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Santander +1. Not been in for years. Just use the machine outside and BACS online.
HSBC were very very good but expensive. I got the free 18 month deal but they tell you how much you've saved on the deal each month. It was usually around the £100 a month mark.
I had 18 months as a sole trader with them then (with the managers help) he closed that and immediately opened a partnership account (though I was still a sole trader).
I got 3 years of the best service ever, for free. When that ended he said I was pushing my luck to get to 4.5 years without paying anything. So I politely left and went to Santander.
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even on a personal account the bank does well out of you , doesnt rake in as well as if you are in the business tarriff but they still do allrite.
iv no sympathy for banks , i paid a fortune to them when i had a biz account in a former life as a mechanic and now and then i used to rub an grubby oily soled boot into the carpet at the branch / catch that on cctv you barstewards/ and i felt much better for doing it
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even on a personal account the bank does well out of you , doesnt rake in as well as if you are in the business tarriff but they still do allrite.
iv no sympathy for banks , i paid a fortune to them when i had a biz account in a former life as a mechanic and now and then i used to rub an grubby oily soled boot into the carpet at the branch / catch that on cctv you barstewards/ and i felt much better for doing it
That'll teach 'em. ::)roll
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Some folks are lucky in that they live in a town with 2,3 or 4 different banks were i live their is only 2 and the Natwest is the best one i dont really like paying £25.00 a month .
But in the next town is Lloyds bank which is crap and the nearest other banks would be a 16 mile round trip so i stick with the bank that offers the best customer service i have ever had out of a bank and that is only a few minutes walk from my house .
Also they open at 8:45 am which is handy if i need to pay money before i go off to work . Mike
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If a custy said I want my conny roof cleaned 3 times a year for free would you do it for free? Like #### would you. You run a business you need a business account, get over it and worry about more important things in life.
Again, not a proper analogy. The bank gears up and lends out whatever you have in your account.
That is my view too its annoying thou but to save arguments with cashiers , ill have to fold to it , the other post made sence get over it a few quid a month for an easy life makes sence I feel like paying that parking ticket that I didn't feel was fair but couldn't be botherd to fight it in court,
if only everyone stuck together or if everyone was like me then we would have free banking as they can turn one away but they can't turn away everyone !
Dont do it !!!! lloyds have been on my case for 3 years for the same reason . stay strong and they'll get bored ;)
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I pay for business banking, I think everyone should.
The trick is to get your monies [money's?] worth.
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I pay for business banking, I think everyone should.
The trick is to get your monies [money's?] worth.
well GOOD FOR YOU
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I pay for business banking, I think everyone should.
The trick is to get your monies [money's?] worth.
What can you get out of a bank other than what they are already doing, ie cashing cheques and so on, and maybe an overdraft. Seriously, I am on 18 months free at the moment but I get a statement every month showing what I have saved and for about 150 cheques/transfers they want £60. What are you getting extra that is worth £720 a year?
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I pay for business banking, I think everyone should.
The trick is to get your monies [money's?] worth.
if your happy carry on
i know i am doing my best not to get ripped off ;)
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Ok, my bank gives me: a separate (free) account that I use for clearing incoming bacs payments, free cheque deposits, an excellent online facility (better than the personal one), direct contact with a business manager who takes a genuine interest in us and our requirements, the offer of reduced rate borrowing + other benefits which are probably not relevant. Also I pay less than 720 per year but not much less.
I understand that you hate banks. They ruined our economy blah blah. At the end of the day they have us ALL by the balls whether we like it or not. Get as much from them as you can, they can be used to your advantage.
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I pay for business banking, I think everyone should.
The trick is to get your monies [money's?] worth.
well GOOD FOR YOU
TA
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I'm with NatWest. Many years ago they tried the same thing on me. It wasn't convenient for me to move to the Co-op (although I'm a longstanding FSB member) so I told the manager I wasn't happy with their business account charges and wouldn't pay them.
We negotiated and agreed on a fixed monthly fee which was much less than my charges would have been, but more than they were getting from my personal account.
Over the years they have gradually increased my fixed fee, but no more than would be justified by inflation.
I have the advantage of knowing exactly what my monthly charges will be and I still have the option of changing banks (we now have a Santander in town) should they try to revert me to a 'charge per item' arrangement.
Talk to your bank - you might be pleasantly surprised.
+1
Sensible post.
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I am with Natwest bank and I was paying £25:00 a month for transactions .
But seen as 99.9% of my transactions are automated I spoke to the bank and I am going to open a Advantage plus account at £5:00 a month .
I dont pay cash in and only 1-2 cheques a month so even when I have over 200 bacs payments going in a month I will only pay £5:00 a month . Mike
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I opened a business account when I started it was one of the requirements that had to be met in order for me to get a start up grant, they charged me £50 just to open it and as I don't normally get cheques as soon as I got the grant I cancelled the account, I too am a small business and just use my own debit account I get one cheque every 2 months for £80 and a bacs payment once a month for £180 I'm certainly not going to open a business account.
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I know others have already mentioned this, but there are terms and conditions on accounts which specify how the account can be used ... they do mean that if you try to use a personal account for business purposes, they could close it. Unfortunately, the same applies to all banks, so moving wouldn't really help you much.
As much as I dislike banks as much as the next guy, at the end of the day, we all used to pay fees to have bank accounts, it was only in the 80s that they started offering "Free" accounts, and then compensating for it by increasing the charges for overdrafts and other things. They're not legally obliged to offer us a free service. And I bet, if you've got any commercial work, you charge them more than you do your residential customers ... just because they're a business ... it's no different to what the bank's doing, it's just how they run their business, and like your customers, if they don't want to pay the price, you don't give them the service!
Most banks do offer some kind of "Free" business account ... ie. there's no monthly fee, and certain transactions are free although you have to pay for others. In most cases, paying in cash and cheques will cost you a fee, but if you can train your customers to pay you by standing order or online bank transfer, they are all free! And it will actually make your book-keeping easier because you're keeping your earnings and business expenses separate from any other money coming in and out of your account. You just pay yourself by taking "drawings" out of the account to your personal one once a week, and then pay all your personal and home bills out of the personal account.