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Business bank accounts - any recommendations?

28 replies

HopingForTheBest25 · 27/04/2025 16:01

Hi all, I'm looking for a bank account to use for a new business. Ideally I'd like a high street one but it seems that the branches which are left on the high street, just direct you to their online services.
Does anyone have personal experience of a bank, either online only or with physical branches, that's particularly helpful/good. Or are they all much of a much?
Are there any you wouldn't touch with a barge pole?
Thank you

OP posts:
HopingForTheBest25 · 07/05/2025 19:11

@jay55is there a limit on number of transactions? Payments from the client will be bank transfer and the only other transactions will be for wages/dividends, tax and any bills assoc with the business, like insurance costs.

OP posts:
taxguru · 07/05/2025 19:48

Unless you actually "Need" a physical branch, i.e. to pay in cash, or you otherwise need other banking facilities such as an account in a different currency or a loan etc., just go with an online only account to avoid bank charges. I usually recommend Mettle (owned by NatWest) because of the free Freeagent book-keeping software which we recommend for our clients. Never had a client with any real complaints about Mettle as it's a very simple and basic online bank account with a good app etc.

I'd never be able to recommend any "High St" bank as from my own and client's experience, they're all as bad as each other. The less you have to do with banks the better really. Some have behaved disgracefully to clients over the decades I've been an accountant. I.e. Nat West once lied in writing to a client in financial troubles and deceived them into selling part of the business with a lie that they'd let the company keep half the proceeds to help with working capital etc - on the day of completion, they unilaterally reduced the overdraft facility by exactly the same amount of the net proceeds, so in effect "took" all the proceeds of the business sale leaving the rest of the business unviable and in debt to others which forced it's subsequent collapse.

I wouldn't trust them with a bargepole!

BePerkyAmberShark · 09/05/2025 15:18

If you want a branch network and don’t want a bank stuck in the dark ages, go for Metro.

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