Which Bank to use?

[lame plumber]

dear old Barclays have just introduced some extortionate charges for overdrafts on personal accounts ie £3 per day on overdrafts over £2000, so no longer using one of my personal accounts any more.

Been looking at the coop/FSB account that gives free banking and sensible overdrauft costs, ie £20 to set up and interest as per the norm. Fed of small businesses FSB costs £150 or so to start in year one so all in all this seems a sensible way of banking, plus you have the benefits of the fsb as well, ie help with inspections from hmrc etc.

Has anyone else used this account or found a cheaper business account at present?

DISCUSS 🙂

 

[kris]

Not sure about FSB account but there well worth joining not only for help and assistance in business matters but like you said about hmrc they are ment to be right in your corner,

 

[woodsy]

Yes I joined FSB and the coop business bank due to no charges paying in cheques, or cash up to 4k a month about 7yrs ago after the HSBC did the same to me. Also the benefit, is that you speak to somebody in this country, getting through straight away generally, even if it is a Lancastrian. I have found them to be excellent.

 

[galaxy_plumbing]

im with lloyds. got electronic tariff , pay around £5-6 a month, bank transfer payments are free same as card transactions and i put cash and cheques to my normal account

 

[kris]

Bank of Scotland i use and they have zero percent charges but that wont be use to you mate,

 

[lame plumber]

Bank of Scotland i use and they have zero percent charges but that wont be use to you mate,

especially as you wont be using pounds in the near future! 🙂

 

[Ray Stafford]

I have been looking at Handelsbanken recently - they boast an "old fashioned service" where everything is decided at branch level.

No actual experience of using them though.

 

[lame plumber]

I have been looking at Handelsbanken recently - they boast an "old fashioned service" where everything is decided at branch level.

No actual experience of using them though.

they cover wealth management services, something I wont be needing 🙂

 

[Ray Stafford]

they cover wealth management services, something I wont be needing 🙂

All banks have a Wealth Management service in their portfolio. Its just a posh name for a sales team selling high ticket price financial services.

 

[townfanjon]

I have been looking at Handelsbanken recently - they boast an "old fashioned service" where everything is decided at branch level.

No actual experience of using them though.

pal of mine works for them Ray, and rates them very highly

 

[stevetheplumber]

ive just change to a 123 santander current account for personal use no good to you by the sounds of it but paying 3 percent on savings so this years isa money is in there for a few months£24 a year fees though

 

[cr0ft]

I'm with Santander Business Banking. Fee free banking unless you go into overdraft obviously! I looked into Handelsbanken but my business was too small for them!

 

[Ray Stafford]

I looked into Handelsbanken but my business was too small for them!

Remember that, when you are the next Pimlico Plumbing, and they come round touting for business.

What a short sighted attitude.

 

[TomLane]

Be aware of using Co-Op bank that should you ever need to contact them over the phone it's not a UK based call centre.

Might be okay if you've never the need to talk to anyone but can be frustrating when you do.

 

[cr0ft]

Remember that, when you are the next Pimlico Plumbing, and they come round touting for business.

What a short sighted attitude.

Being slightly spiteful I will probably go to the effort of going in there to pretend to open an account, only to get half way through and say 'but there is a problem here'...

'you weren't interested in me when my business was too "small" so I'm not really interested in you now'.