Business bank account

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Can anyone tell me what to look for in business bank account, or recommend any? Would be a shop and internet business with cash and card payment

Are you a limited company?

Don't fall for their 'packages' try to get one with as long free banking as possible.

That's about it.

Check the charges for the different accounts and compare. Different accounts (even in the same bank) will charge differently for handling cash etc. As you'll be paying in cash, this is particularly important as you don't want to pick an account that's suitable for a business that does mainly online banking and then get stung for handling cash. Free banking isn't all it's cracked up to be. You can have free banking with the Co-op if you're a member of the FSB but their online banking is poor. Also check that the bank you choose, has local branches to you and that you can park easily near by.

I found Santander fine - 12 months free banking for new business'. If i had continued i would have then shopped around and moved accounts for more free banking. Banks have good incentives for switching these days but most of us don't think about it as it seems like such a hassle (looks like less hassle than changing energy supplier in reality).

I'm soon closing mine however as IR changes have made my Ltd company defunct as no one is allowed to pay me as a Ltd company anymore.

I should say that i didn't need to pay in cash and just needed to receive and make electronic payments in the main so it was very simple for me - obviously it depends on what you need the account for. I did notice very different charges on paying in cash or doing any kind of overseas transactions but they didn't effect me.

I just use a second dormant savings account I had. Your clients wont know the difference, just dont tell the bank or they will say it isnt allowed. It is!

AGoodName, are you a ltd company??? If you are it is absolutely not ok to run the company account out of the Directors personal accounts!

Yes - when i was self employed and free lancing i used my personal account and just kept records and highlighted all business transactions on my statements. As a limited company though i needed a business account in the company's name.