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seandyer2003

business accounts
« on: August 05, 2008, 10:46:57 pm »
I keep being told by my bank that i will have to get a business account, but arent they expensive, and also is there any point when you already have an account which has all your money going in/out?

Any advice??

seandyer2003

Re: business accounts
« Reply #1 on: August 05, 2008, 10:53:42 pm »
i saw an ad on alliance and leicester for 2 years free, its just that at the moment i am just earning what is a wage so what would go in the business account!?

poleman

  • Posts: 2854
Re: business accounts
« Reply #2 on: August 05, 2008, 11:04:25 pm »
I just joined FSB and got free business banking for life  :o

TDS-London

  • Posts: 36
Re: business accounts
« Reply #3 on: August 05, 2008, 11:08:00 pm »
As long as you put less than a thousand cheques in a month with Abbey then business banking is free with them too and I've gotta say that they're SUPERB!

paulscotney

Re: business accounts
« Reply #4 on: August 05, 2008, 11:10:21 pm »
I did about 15 yrs with an Abbey normal current account, never had a problem.
I now have a FSB business account there are no charges and there are lots of added benefits. The annual fee is £100 but I think the benefits pay for that.

paulscotney

Re: business accounts
« Reply #5 on: August 05, 2008, 11:11:30 pm »
Sorry the account is free the FSB membership is £100

Paul Coleman

Re: business accounts
« Reply #6 on: August 06, 2008, 05:20:15 am »
As long as you put less than a thousand cheques in a month with Abbey then business banking is free with them too and I've gotta say that they're SUPERB!

I think you will find that's 100 cheques rather than 1,000 .  Still a very good deal though.

jaykie

Re: business accounts
« Reply #7 on: August 06, 2008, 10:50:03 am »
As poleman said join ths FSB you get free banking with the co-op and also get the benefits of the federation.

Chris

p1w1

  • Posts: 3873
Re: business accounts
« Reply #8 on: August 06, 2008, 10:52:54 am »
can someone show me a link to the fsb thats a great deal if you get free banking as a member it's worth £100 just for that as i nearly pay that in 2 months with tsb.

thanks

paul

jaykie

Re: business accounts
« Reply #9 on: August 06, 2008, 10:58:27 am »
h ttp://www.fsb.org.uk/default.asp

Ring them they will give you info on phone, just  the fact of ever being investigated for tax you get a free solicitor is worth every penny.

Chris

p1w1

  • Posts: 3873
Re: business accounts
« Reply #10 on: August 06, 2008, 11:13:28 am »
thanks chris will be ringing them

paul

jaykie

Re: business accounts
« Reply #11 on: August 06, 2008, 11:16:18 am »
0808 20 20 888

darragh windows

  • Posts: 481
Re: business accounts
« Reply #12 on: August 06, 2008, 03:28:26 pm »
As long as you put less than a thousand cheques in a month with Abbey then business banking is free with them too and I've gotta say that they're SUPERB!






im with abbey too cant fault them
jamie

Joe Lauzon

Re: business accounts
« Reply #13 on: August 06, 2008, 03:34:11 pm »
With no Abbey in my town, I'm paying through the nose with HSBC :(

Say I want to pay in 12 cheques to FSB, how does it work exactly?  Through the post?  What if they get lost?

Is the membership 100 pounds yearly?

jaykie

Re: business accounts
« Reply #14 on: August 06, 2008, 05:12:29 pm »
h ttp://www.co-operativebank.co.uk/servlet/Satellite/1196151412542,CFSweb/Page/Business-CurrentAccounts

Joe Lauzon

Re: business accounts
« Reply #15 on: August 06, 2008, 09:44:30 pm »
So reading that you can pay into the post office.  Seems obviously better than HSBC...

Any bad points or hassals I should be aware of?

Just quoting this off the website...

Quote
• Insurance cover for legal and tax professional fees and statutory awards in the event of an employment dispute or full tax enquiry.

Is there not an additional insurance premium payable for the services of a solicitor should a tax enquiry arise?

poleman

  • Posts: 2854
Re: business accounts
« Reply #16 on: August 06, 2008, 11:33:54 pm »
In short no, you get full cover when you are a member

Paul Coleman

Re: business accounts
« Reply #17 on: August 07, 2008, 07:17:49 am »
As long as you put less than a thousand cheques in a month with Abbey then business banking is free with them too and I've gotta say that they're SUPERB!






im with abbey too cant fault them

I've been with Abbey a few years now and not had any problems - until yesterday.  Well it was an easily resolved problem but I will share it on here in case it affects anyone else.
On the statement that I received yesterday, they announced that they will be charging me £6 later in the month for paying in more than 100 cheques during the month (12 more in fact).  I did hold back 12 cheques until 1st of August so that I would avoid being charged (I'm on holiday this month so won't reach 100).  Some years ago, I phoned them to ask when their months started and ended so that I would be able to avoid bank charges and I was assured that their months started on the 1st and ended on the last day of the month.  It turns out that this info was incorrect.  Apparently, my month starts on the 2nd of the month because my account was originally activated on the 2nd September, whatever year. I had never noticed this before.
The charge was waived (goodwill gesture) and I now have to write to their head office requesting that my date is changed to the 1st of the month.  This makes sense because my accounting year runs from October 1st so it keeps things tidier.
So, don't assume that your statement dates are 1st to last days of the month and watch those charges.

seandyer2003

Re: business accounts
« Reply #18 on: August 07, 2008, 10:42:03 am »
might be a simple question, but the fsb, how do you deposit money? ive never seen a branch, or do you put money in your current account then transfer online??

Paul Coleman

Re: business accounts
« Reply #19 on: August 07, 2008, 11:04:45 am »
might be a simple question, but the fsb, how do you deposit money? ive never seen a branch, or do you put money in your current account then transfer online??

I am in the FSB.  I do not use their free business banking though.  This is because it would mean queueing at the post office in work hours.  At least with Abbey, I get it free asnd can do it at the cashpoint whenever I wish.