Business banking feedback.

[Njugle]

As we already have a thread discussing the negatives of banking, private or otherwise, in wake of some recent discussions i wonder if anybody would care to recommend, rate or slate the major local banks for commercial banking, who charges least, who provides the best service and who would you recommend. I'm fairly sure in guessing that a few folks on here either work for private firms or have their own.

 

From personal experience, for instance, i found the Clydesdale to be crap for a personal account but very helpful for business. An associate recently attempted to set up a specialised business account with the BoS, which took months before they spoke to the RBoS, who claimed it could be done in days, and then took months over it. I've never heard anything good about TSB, are they any use for commercial banking? Do the building societies provide any decent level of business banking service?

 

Who's good and why?

 

(disclaimer - if this turns out entirely negatively, we can just add it to the 'Malpractice' thread!)

[Pooks]

Never had any bother from the RBOS.

[JustMe]

Friend has just opened a business account with Alliance and Leicester. Took ages but they have a charges free introductory offer which sounds good.

[khitajrah]

I can't compare anything because I've only ever used the Bank of Scotland. Their online/telephone business banking means that I can operate a business in rural Shetland and only have to go into town to pay in cash/cheques. It's brilliant!

[BigMouth]

Back on the mainland I used Nathaniel Westminster on a couple of occasions. They were offereing free banking for the first 6 months of trading. There were no problems until they started charging for transactions, about 60p each then and as many of my transactions were for about a tenner its a sizeable chunk.

 

My best advice is don't open a business account. Try to run your business banking through a separate personal account. You can get away with it for a fair amount of time if you are a sole trader. You will save a fortune in no time. The banks have enough money.

[Frances144]

We use A&L as they are the only institution that offers free business banking.

 

It used to be free whatever but they have changed the rules - you have to have £1000 going into your account every month, so we set up a standing order of £1000 going in and coming out one week later every month so we still qualify for the free banking!!!!

 

Apart from that, they are not bad. We worked out we paid about £250 a year on bank charges with thw Clydesdale just for giving them our money, never being in debt and doing all the counting and paying it in. Extortion. And the worst bit? We trawled down Da Street to find them all in the conspiracy!!! except the A&L.

Bunch of theiving bar stewards!

Fx

[Para Handy]

Don't no about the business banking side of things. but TSB is the best I have used and seen for internet banking. Clydesdale was ok. Royal Bank of Scotland was the worst I have seen the sister tried it and it took a whole week of trying to log in before she got access to her account, and found she could not even change the date of a standing order. And now she cant even use phone banking as the internet banking opts you out of it. I would avoid . Royal Bank of Scotland like the plague