Business bank accounts - any recommendations

[likessleep]

i need to do some lengthy internet searching, but as always, i thought i'd ask the mnet jury on best business bank accounts.
i am setting up as sole trader.
a major factor is that i need to be able to withdraw cash with a few days notice, say £2,000 - £3,000. (sounds dodgy but i work in market research running focus groups and it is amazing what respondent incentives add up to across a few groups!)
any advice on what else i should be looking for?
thanks.

If you become a member of the FSB then you get free banking with the Co-op and good rates on things like streamline (for merchant banking services) not sure how much notice they would require for things like large cash withdrawals though. HTH.

I can tell you who NOT to go with - Abbey! Free business banking for life - sound's great, dunnit?! Well it bloody well isn't. Fools I tell you, fools!

We're just switching to HSBC.

thanks polly, i'll look into that - cheers

really doodle? i was just looking at their site actually ... would you mind me asking what they have charged extra for?

Nothing! But then you get NOTHING in return!

We get paid via cheques sometimes. So off I trot, down to the Abbey which is miles away and when I get there, can I pay it in over the counter, using the company paying in book that they gave us? Oh no! Because it's free business banking, we're not allowed to use the counter because we don't pay, do you see???? We can't even go to the counter when the paying in/ATM machines are not working (frequently) even though the problem is caused by THEM!

Oh likesleep, you've got me started! Man, I loathe them. If and when you do speak to them on the phone, everything is so slow and long winded. Should have known really, given how long it took them to set up the account, then activate the account, then activate the on-line banking etc etc etc.

Then, if you want to make multiple payments, on-line, to one person or company, you have to set up a fresh payment order for every transaction.

Trust me - they're shoite!

aah, i'm convinced, thanks for posting. knowing that is as useful as knowing where to go.
i hope hsbc proves a bit easier for you
thanks

I have one business account with Bank of Scotland (Lloyds now I guess) and they have always been very straightforward.

I have another business with an account at Clydesdale and they are really crap. They send things to the wrong address (my business partner rather than me); they don't seem to know what they are doing; they are desperately slow to respond to anything.

I have heard good reports about HSBC.

we are with narwest, tried to do small business association but after they didn't respond to email and then they took alldetails by phonecall and it didn't get passed on to relevant person, i gave up.

For similar reasons to the Abbey, don't go with the Alliance and leicster either. Hopeless. And they only let you withdraw £250 per day. Even at the counter.

I was thinking of setting up a business account for my childminding as i would be using a co name. Or is it better to just use my normal account.
Don't think i'll be earning that much in the first year, maybe less than £5,000.
Can i register a co name on my private account or is that a big no-no?
Not had experience of being self-employed before

Ripeberry, You should get a separate business account - the banks deal with these 2 areas very differently and they are not pleased if they find out that you are using personal banking for business (there are different staff, benefits, charges etc). Also it makes it so much easier to keep you business accounts transparent.

We are just leaving NatWest. Utterly hopeless. Lose everything constantly, have to be told everything three times.

We're looking into HSBC for our next business acct.

thank you so much for responding, that is all really useful stuff. i had an online chat with someone from hsbc, who seemed very good and it is encouraging to hear positive things about them here too.
thanks

I've always stuck to 'personal' accounts etc rather than 'business' ones as you're often ripped off with them.

Also, with a business account, banks feel it's okay to constantly call you to have a chat about how business is going, how you're planning on expanding your business, is there anything they can do to help, do you want to come in and have a chat with our financial adviser, etc etc. Yes, bought the ruddy t-shirt there!

If the bank doesn't like you using a personal one for business (my current one has never brought it up) then just withdraw your money and try elsewhere.