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Business Bank Account

traceygfordtraceygford Just JoinedRegistered Posts: 12
I've been a MIP for a couple of years, working as a sole trader, I'm thinking of switching to a limited company set up so would need a business bank account, I've been using a personal account so far. I just wondered if anyone had any recommendations or warnings of the best business bank accounts based on their experience? My main concern is keeping the cost low.

Any thoughts you have would be much appreciated :)

Comments

  • burgburg Experienced Mentor GloucesterModerator, FMAAT, AAT Licensed Accountant Posts: 1,441
    From my experience with new clients the difficulty is getting the account set up in the first place. Only Nat West near us appears to have a business management team so we tend to refer to them as at least you have a point of contact to try and get the account opening moved along.

    As for charges all are about the same. If you are on an electronic tariff and make most payments and pay-ns via electronic means then charge are pretty minimal. We have over 300 clients mostly on DD and we pay about £10 a month. £5 standard fee plus a few charges for cheques paid in and ocasionally written.
    Regards,

    Burg
  • traceygfordtraceygford Just Joined Registered Posts: 12
    Thanks for the reply. In the end I went with Metro Bank as they have a branch near me and one of my clients has been raving about them. Unfortunately not too impressed so far, it's been a couple of weeks and no sign of my debit card arriving!
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