MikeR

Hello,

Can people please suggest a decent bank for a buisness account, and any advise on what l should be looking out along with expected costs etc,

If any body has advise on being VAT registered as well that would be greatly received,


Thanks

nthorpey

i've used abbey for 3 years , no problems at all, quick online transfers, easy to get through on phone too

Brian

iTrader: (2)

My missus has been using Abbey Buisness banking for year's now without any problems, I have also got a Business account with them for just over a year and again no problems. I only went with the Abbey as they don't charge to use it like some other banks do.

Only thing i think with the Abbey is that you can't go into a branch and sort out anything to do with buisness banking its all over the phone or on-line

Brian

Brian

iTrader: (2)

Some info here on being VAT registered http://www.company-wizard.co.uk/guid...istration.aspx

I am Flat rate vat registered all i do is charge VAT on any work i do and then pay the HMRC back a % of it, i charge 17.5% but only pay HMRC 11.5% so make a few quid which over a time adds up

Just do some serches on google mate as there is loads of info on line


Brian

john

I've just recently opened a natwest business account with two years free banking no problems so far.

Mike C

iTrader: (1)

I would happily recommend NatWest. They've been good with us.

bpspa

iTrader: (1)

I bank with Abbey for my business and have had no problems at all

as for being VAT registered you need to see if the Flat Rate scheme will benefit you, but it all depends on the nature of your business

Kam B

Iv been with HSBC for a while they were great until the free banking finished, i was getting charged Ł8 per day for being overdrawn!!

I dont need it any more so it will close down this year. Im VAT registered and used to make a couple of hundred off it for doing nothing per monthly invoice

cjwood555

I'm with Lloyds and have to say they're really not very helpful.

MikeR

What type ofbuisness's do people have that have commented?

Thanks

Mike

cjwood555

AV business - retail+service, turnover last year was only ~40k. target this year is double.

MikeR

So you can sell me some Kef speaker stands ???

Are you VAT registered and if so was it an easy thing to sort?

Mike

cjwood555

Yes we're VAT registered - easy to sort as we just went for standard invoice VAT accounting. If you go for cash accounting then you have to meet certain criteria. There are flat-rate schemes as well which save on admin but might not suit in the initial years where you spend a lot!!

Certainly should be able to get some kef stands - probably cheaper online in all honesty though It's a ridiculous situation the prices in this biz....

Chris

Kam B

I own a Small IT company - hence the need for a business account

Chris Latham

Ive been with Santander for 6 months now and my business manager is fantastic.

If i have any problems whatsoever i pick up the phone and he answers my call in under 5 rings. Gets my problem sorted ASAP.

Its also free banking for life

cheeRS

Chris

Ryan

santander for me.

when i signed up when it was abbey, it was free business banking forever, couldnt grumble with that at all, it was internet and phone only, but i've phone them twice in 5 years, and both times was to order stationary or cheque books.

john

Animal transport from the UK to France and Spain once a month and the other three weeks bespoke trips collecting stud dogs throughout europe, Dropping of show dogs in the UK or Europe. Vans are all twin air conditioned, equipped with fridges and microwaves Going VAT registered next year as first year went FAR better than though and forcasted.

natehall

iTrader: (2)

ive used 3 business banks in my business...

A & L (now santader)- They were crap and froze my companies money without warning until i proved it wasnt obtained fraudulently, nearly causing me to go bankrupt within 6 months of opening up the account, they still have over Ł100 of mine I cant get back

LTSB - not a bad bank for business purposes - however from my experience it takes 7 calender days to clear a cheque, including from LTSB customers and there online system is confusing.

HSBC - my curent bank - and I would be happy with them if it wasnt for the oercomplicated security model (which is good for any time you can find your key!)

BLACKCOS

nat west one is ok used barklays before but after your out your free banking can cost some. Most are offering free banking for a set time. Stay away from being vat reg as long as you can . Speak to accountant about it before you make any desisions on being vat registered.

MikeR

Blackcos, why do you suggest staying away from being vat registered?

Santander sounds like it could be good,

tanks for the adivice all

Chris Latham

Whats the nature of your business mate??

Will you be selling back to the trade or public??

Cheers

Chris

St3V3_C

Exactly the same experience here with us two.

Can't fault it. If I need to pay in cheques, it's either at the cashpoint, of chuck it in the post. Always gets processed quickly.

Retro Al

iTrader: (1)

Im with natwest and have got the free banking for 2 years,how much do they charge when the free period is over?

cfoster

Abbey business account for me, never had problems. Its one of those online ones so no fees etc....

MikeR

We would be selling a product to a specific industry,

Cheers

Mike