Which business bank account should i choose for my new company?
Written By: admin on October 8, 2009
4 Comments
Hi, I have just set up a limited company supplying labour to the construction industry, i need a business account, which bank is best for me, i’ll be receiving about £5,000 – £10,000 per month, and need to be able to make payments to my sub-contractors bank accounts via bacs or chaps, would like it if these services are free. Any thoughts which banks are best for us.Thanks
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Tags: bacs, bank accounts, banks, business account, chaps, construction industry, fixed rate private student loan consolidation, home equity loan lowest rate, labour, limited company
There is Alliance & Leicester (soon to be Santander) does a Business Builder Current Account, Business Savings Accounts for new companies. With them you get 2 years free and unlimited day-to-day banking. With no minimum funding or balance requirement. Yes you can do Chap, Bacs payments.
Free banking period for other banks are Barclays doing 12 months, HSBC and Lloyds TSB doing 18 months. Remember you don’t have to have only one business bank account if you don’t like putting all your eggs in one basket.
In the current economic climate I would go fro Barclays as they seem to be doing well. I’ve had a business account with them in the past and personal accounts and they have always given brilliant service.
APA_APA SAJALAH
I too would say Bar clays. I set my business account up with Bar clays, it was simple, simple and they were open the hours that were right for me and the location was excellent. All factors that you should consider when setting up a bank account. I also deal with Nat west and reckon that they are very excellent also.