Networking Now

As I am moving back to the UK next year I need to start sorting myself out a UK business bank account;

Who do you use :?: and are they good :?:

HSBC, Fantastic, the branch manager is a major part in my book, and although we hardly ever deal with him, when we have he has been top notch.

Never had an issue with payments, actually normally there before we expect them, I am could not recommend them enough.

seanstevens wrote:As I am moving back to the UK next year I need to start sorting myself out a UK business bank account;

Who do you use :?: and are they good :?:

We use Barclays. And they are pants. I make no bones about this. Their internet banking system (our main interface to our money, if I'm honest) is pish as well.

We were going to use the "free" business banking from the Co-op which is available to FSB members, however, we've heard some awful reviews - again, particularly on the I/B front.

Have heard a few positive comments about HSBC, not including Kip's above - but never used them myself.

Would be very interested to hear who you choose in the end, and why if possible!

Sure I have said before Matt, if you want HSBC, gimme a shout, sure I get a drink for an introduction!

But even if you don't they are fantastic, sure we got 18 months free, then free after, except the normal, such as over the counter transactions and cheques, but even cheques are peanuts, was pence per one if I recall.

Hence why we prefer TT/BACS, but even with those in the dark ages (You know who you are lol) its less than a stamp.

matt.chatterley wrote:We use Barclays. And they are pants. I make no bones about this. Their internet banking system (our main interface to our money, if I'm honest) is pish as well.

We were going to use the "free" business banking from the Co-op which is available to FSB members, however, we've heard some awful reviews - again, particularly on the I/B front.

Have heard a few positive comments about HSBC, not including Kip's above - but never used them myself.

Would be very interested to hear who you choose in the end, and why if possible!

Appreciate the comments. Not the first negative comments I have heard about Barclays. Surprised about Co-op, I'm meeting with a rep from the FSB next week so will have to ask him about the service.

I will post back at a later date once a decision has been made.

I know three Clients who bank with Barclays and all have differing experiences from very positive to very negative. Whilst doing some credit control the other day for someone I was talking to a business owner who has a very large turnover and has moved from Barclays to HSBC in order to save over £200 month in bank charges.

I personally went with Alliance & Leicester as they offered free banking for 18 months. I dont have to carry a card reader or a pin number gizmo, it's all done with passwords and key words. My only complaint with them is that they currently have a £250 limit on instant transactions, and incoming transactions seem to take a day to show up. If I send money from Barclays to A&L my a/v balance increases fairly quickly but I cannot see the transaction until the following day. However, if I send money from A&L to Barclays its showing in the account before I can log off one and into the other.
What I do like about them is the online message service. I can ask questions online and get an answer next time I log back in. I don't have to spend ages on the phone waiting for an answer.

I have previously used RBS and HSBC when I had an online craft shop, cant think of any issues with either of them, apart from the fact the free banking always ends at some point.

I do as many transactions online as possible, and like Kip always request payment this way. There will always be the odd Client who wishes to pay in the old fashioned way, but an odd one doesn't hurt.

I did work out for one Client that if he stopped paying just one outgoing by cheque each week he would save over £50 year in bank charges. It might not sound a huge saving but multiply that by the number of cheques he writes and ....
Also, from a bookkeeping point of view what use is a cheque number on a bank statement? With BACS transfers you can see who you have paid, it certainly makes it easier to do the books.

I think that a lot of the banks offer the same services, I would ask for recommendations from businesses local to you, whilst one bank manager may offer excellent service in one area it doesn't follow that the same bank will have the same style of bank manager in another area.

I started my working life in a bank in the old days just before the start of call centres. In those days Bank Managers were still allowed to make decisions, if the computer said no they knew the customers and could actually override the decision. Now with branches being merged, anonymous call centres and the like how well can a bank manager really know his Clients.

Natwest.

They're very professional and they look after you. Customer Service is everything.

HSBC - great. I bank with them, and don't have bank charges as I have an Internet Banking account. I can issue and pay in cheques (I think 20 a month) free and the only thing I get charged for is paying in or drawing out cash. Which I don't need to do. The banking team are great.

Lloyds TSB are awful. Crap customer service and horrible statements. I went with them before switching to HSBC and the support for a new business was non-existent. Several of my clients were with Lloyds and switched to other banks.

Co-Op - dire Internet Banking. As there are few branches (if any) all your paying in has to be done by post or via the Post Office. Good, clear statements. One of my clients is with them through FSB, and is switching to HSBC.

Barclays - awful and horribly expensive. This is again based on my clients' experience.

NatWest - no complaints, but don't know much about them.

Hope this helps.

Again, thanks to everyone for their input. I'm coming across to the UK for a couple of days at the start of December and have made appointments at HSBC and Natwest for now to see what they have to say.

Sean