[LWC]

After having mine for a few years now, i dont really see any advantages what so ever and i also pay for the privelage of having one. I know they do free ones, but i think im gonna faze out the account altogether.

I have to pay to pay in and then with cheques i have to wait the 5 - 7 days before i can touch it, least when it went in my personal account it was there, not available but accounting towards the balance.

Waste of time and money in my opinion, and yes it IS tax deducatable but still gotta find that money. I remember my accountant saying a while ago, either spend a £1 or give the tax man 30p, id ratther pay less towards tax than pay for a completly pointless service. I did think it looked more professional...i dont now.

Your opinions?

[dazmond]

go back to your personal account or open a savings account at a local supermarket then when you do your shopping bung your weekly cheques in at the same time(for free as well!)

[bobby p]

i opened a Nationwide b.s. personal account online. it was up and running with no checks on me whatsoever and i liked that service  .  i have also found in my nationwide branch they never query payin in  cheques whereas at a bank they got funny at me payin in cheques to a personal account

[tom2009]

i opened a Nationwide b.s. personal account online. it was up and running with no checks on me whatsoever and i liked that service  .  i have also found in my nationwide branch they never query payin in  cheques whereas at a bank they got funny at me payin in cheques to a personal account

I've always had fantastic service at the Nationwide.

[Klean07]

Business banking is only ok if you bank lots of cheques per month or have lots of bacs custies. I'm ditching mine when I've paid my overdraft off because I'm paying too much silly money in charges for things like paying in cheques/cash/direct debits/etc. Money for old rope I say.

[♠Winp®oClean♠]

Money for old rope!

Just use a normal personal account, I pay in anything between 30 & 70 cheques per month with no problems at all. Sometimes people write my name on the cheque followed by "window cleaning" : but they still go through no bother.

The only thing to be aware of is if you ever get a full inland revenue investigation you would probably have to prove any "pay in" that WAS NOT from your business. SO, either keep any proof of this or ONLY use it for business deposits & you'll be fine. Simples.

[dave.e]

Business banking is only ok if you bank lots of cheques per month or have lots of bacs custies. I'm ditching mine when I've paid my overdraft off because I'm paying too much silly money in charges for things like paying in cheques/cash/direct debits/etc. Money for old rope I say.

I agree mate i bank with the hsbc in k/ford high street and like you will be closeing mine down when my overdraft is payed off.

[dai]

I have two personal accounts with HSBC. One is for business only, they have tried it on a couple of times but I just threaten to go elswhere, they just put the cheques through now without question.

[Londoner]

We are getting grief from Lloyds at the moment but its only because they want to screw us for more bank charges. Thats what it all comes down to.

[gavin pedley]

I recently set up a santander business account they in my opinion are the best as you get free banking up to £3000 transactions a month.

e.g you can pay in up to £3000 a month etc

[Paul Coleman]

I recently set up a santander business account they in my opinion are the best as you get free banking up to £3000 transactions a month.

e.g you can pay in up to £3000 a month etc

If you get over 100 cheques a month it's 50p per item.
N.B.  Santander don't reveal the BACS references that you supply to the customer.  No problem now if you only take a few payments like this but possibly a big problem in the future as cheques diminish and BACS increases.  Of course, if you use Paypal or similar then no problem I imagine.

[Jack Wallace]

I swapped from a personal account to a biz account a few years ago and find it much better. Sure it costs money but so what, i am running a business afterall.
I find the biz account has more benifits plus I can talk to my account manager anytime I like and get advise. Plus if I want to invest in new kit he loves to throw money at me at a much better rate than I would get elsewhere.
I think it all comes down to how you view yourself.
Are you earning a wage or running a business?

[clarkson]

  Hi
  I have to have a business account as i do commercial contract cleaning as well, but iam seriously considering another account for the domestic stuff, i could introduce the balance to the main account once per month as a lump and pay just one transaction.

I would recommend two personal accounts as said the tax man might want to know what the other payments in are and where they came from.

Of course many business accounts offer a couple of years foc. so you could just move them around.

 cheers

 john

[gavin pedley]

I recently set up a santander business account they in my opinion are the best as you get free banking up to £3000 transactions a month.

e.g you can pay in up to £3000 a month etc

If you get over 100 cheques a month it's 50p per item.
N.B.  Santander don't reveal the BACS references that you supply to the customer.  No problem now if you only take a few payments like this but possibly a big problem in the future as cheques diminish and BACS increases.  Of course, if you use Paypal or similar then no problem I imagine.

Did' realise that bit

[Londoner]

I recently set up a santander business account they in my opinion are the best as you get free banking up to £3000 transactions a month.

e.g you can pay in up to £3000 a month etc

The trouble with Santander is that appears to be free but actually they delay everything so much its a pain. If you pay in cheques its nearly two weeks before they show up on your account. If you transfer money to another account they delay it 3-5 days before putting it through. There is no such thing as a free account.

[gavin pedley]

They didn't tell me any of this oh well like you say there is no such thing as free so will just put up with it for now all i can say is lloyds charged me way way to much for everything.

[Paul Coleman]

I recently set up a santander business account they in my opinion are the best as you get free banking up to £3000 transactions a month.

e.g you can pay in up to £3000 a month etc

The trouble with Santander is that appears to be free but actually they delay everything so much its a pain. If you pay in cheques its nearly two weeks before they show up on your account. If you transfer money to another account they delay it 3-5 days before putting it through. There is no such thing as a free account.

Although I'm no fan of Santander Vince, I haven't found the delay to be that long with the cheques.  Assuming no public holidays, my cheques are available for use 7 days after depositing them.  If the deposit is made late in the day it might take an extra day.  I deposit by ATM though.  Do you post yours perhaps?
As for the delay in transferring to another account, I have found them to be really hit and miss on this issue.  There appears to be no consistency.  Until a few weeks ago I could transfer from my Santander business account to my Santander personal account instantly - provided it wasn't during the night when the systems update.  Without warning, they now delay it by a day or two.  Fortunately, the transfer I made when I discovered this change was not time critical.  It could have been though.  It could have easily led to bank charges if I had left things till the last day.

[tom2009]

We are getting grief from Lloyds at the moment but its only because they want to screw us for more bank charges. Thats what it all comes down to.

Its a wonder anyone banks with lloyds imo, I used to but they take the mick that lot.

[Londoner]

We are getting grief from Lloyds at the moment but its only because they want to screw us for more bank charges. Thats what it all comes down to.

Its a wonder anyone banks with lloyds imo, I used to but they take the mick that lot.

To be honest I think they are all as bad as each other but it shows up in different ways. Barclays always used to be reckoned to the worst bank but I think they the best now. Its not that they have got better its just the others have got worse.

[♠Winp®oClean♠]

I swapped from a personal account to a biz account a few years ago and find it much better. Sure it costs money but so what, i am running a business afterall.
I find the biz account has more benifits plus I can talk to my account manager anytime I like and get advise. Plus if I want to invest in new kit he loves to throw money at me at a much better rate than I would get elsewhere.
I think it all comes down to how you view yourself.
Are you earning a wage or running a business?

Just sounds like you're trying to justify the cost here!

Of course he wants to throw money at you you're one of his victims! :

Earning a wage or running a business? how you view yourself? I think it's you jack who needs to open your eyes mate! :