Business Banking Account Review
Without doubt, the most important first step for a small business is a bank account. The question is which bank is best?
There are many banks across the UK offering business banking and the choice is varied indeed.
Without doubt, the most important first step for a small business is a bank account. The question is which bank is best? There are many banks across the UK offering business banking and the choice is varied indeed. On this page we are going to do a business banking review to look at the choices from selected banks who not only provide business accounts for those in good credit standing, also banks who offer adverse bank accounts for those with poor credit.
Do you need a Bad Credit Business Bank Account ?
The Cooperative Bank.
This bank offers the standard business account and also a basic business account for those with bad credit. If you do not have a personal account, this bank can offer you a full account or for those with bad credit they offer a VISA Electron charge card which you can top up at a post office or by post.
Business Banking Account Review
Cooperative bank:
Personal account inquiries:
08457 212 212
Comments:
For a personal account with VISA Electron card, they are exceptional.
HSBC
HSBC offer a very good choice of business accounts and offer good advice and a friendly service. Internet Banking Help desk Lines are open from 8am to 10pm every day
Tel: 0845 600 2290
+44 1226 261 226
(textphone 18001 08457 125 563)
Barclays Bank
Overall, I found an account with Barclay’s a pleasure. They offer a choice of business accounts and other investment accounts. If you have bad credit, they will offer a sympathetic ear and are a pleasure to deal with. Whether they provide an account for bad credit is unknown. A relation who banked with them actually got a refund of bank charges from them, after this they would not give him another account.
Tel: 0845 601 0106
We bank with them, they are totally approachable and the customer service team are exceptional. In this business banking review, lloyds came out top as Lloyds offer standard business accounts and for those with bad credit, they will give you a chance with a basic business account. Whenever we have had a query, the account manager has put things right in a very short space of time. Highly recommended.
Business account questions 0845 072 5555 or +44 1392 899 091
Additional solutions if all else fails.
If you are getting nowhere, the final option would be a Halifax Treasurers account. This can be used for business and it pays interest on every penny you have in it. Its good to get you started and offers direct debits, standing orders and a card for cash machines. Note: Its more a temporary measure!
Business Banking Review
Our Suggestion: Lloyds Bank, but ultimately its down to personal choice. Common with all banks, the operating basis we found initially is terror – Don`t trust the client. If you ever wondered why banks are ripped off is because they fear it so much it happens, this is true in life off course too, however with any bank as time moves on you develop a pattern of conduct with your business bank account and in turn this is what generates the confidence (or lack of) with the bank. Keep your account running in order and over time (we noticed around every 3 months) the bank will start to offer more. We wanted to make this business banking review an honest review of UK banks, and it is.
Experience with Lloyds Business Banking and additional data on patterns:
As mentioned , initially it was difficult for us to get a bank account, literally no bank wanted to know. Then on the 2nd application, Lloyds gave us a chance. Over a period of around 9 months, we have a £2K credit card, a £3K business overdraft and recently we have been offered a loan of up to £7,500. The morale of this is dont give up! there are business accounts available just keep at it.
We hope this business banking review helps you
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