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Discuss everything related to paid childcare here, including childminders, nannies, nurseries and au pairs.

Best bank account for CMers?

6 replies

BigTummyMummy · 05/06/2008 13:17

Hiya,
Does anyone have a good bank account that they are happy with, for childminding? I don't make enough for a business account and already have a current account so am thinking maybe one of those Basic or Cash accounts? Anyone have experience with those and how well they work with running your own business?
Thank you!

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ayla99 · 05/06/2008 17:05

I got a free business account with www.abbey.com.

I suggest an account with a chequebook - you can write a cheque at places that don't give out receipts to get the transaction through your account so you don't overlook the expense when doing your accounts. Also, I give out cheques and not cash when refunding deposit fees.

Ripeberry · 05/06/2008 17:10

Problem is that not many places accept cheques any more. Maybe an internet based account may be better so you can see exactly whats going out and coming in.

PinkChick · 05/06/2008 20:06

i had a free business banking acocunt with barclays when i first started out, but when they started charging me i just opened another normall currrent account and keep it separate...i wouldnt pay to bank!

BigTummyMummy · 06/06/2008 08:07

My problem is that I'm only getting around £300 per month, so can't get most of the current accounts as they usually have a minimum amount going in monthly. And I agree about places not taking cheques anymore, everywhere around here has signs up saying they won't be taking cheques anymore. Hmmm. ):

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ayla99 · 06/06/2008 11:17

The reason I suggested a chequebook was because is a proof of purchases made at places that don't give out receipts - small shops, farmers market, fruit farm, thrift/jumble sales, purchases from friends/classifieds ec. Doesn't make a difference for most childminders who can put through estimates for purchases of under £10 but its helpful for those who have to do full accounts where estimates are no longer allowed.

I had trouble getting bank account when I first went self-employed my credit rating was awful apparently. I had a 4 figure cheque to open it with but Lloyds, Barclays etc wouldn't let me have an account. I have a cardcash account with Halfax, you have to put £1000 a month there to get a current account. And I found it a real pia not having cheque book, having to get to cashpoint when I couldn't drive to withdraw cash to pay for school trips, brownie subs etc. And risk cash being lost at school.

Recommend NatWest, they gave me an account when no-one else would. Also I like their online banking.

Abbey claims FREE FOREVER

BigTummyMummy · 06/06/2008 12:47

Thanks for that - I misunderstood it the first time I read Abbey info and thought you had to deposit AT LEAST £3000/mo! But that is the maximum! That looks like a great account so I'll give it a try.

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