banking
Looking for a Bank, tried a few of the high street banks, and used the guide lines from the book. Was really surprised by the amount of Banks that only offer "business telephone banking" and "was told customers prefer it this way". Anyone know of a good business bank who actually likes to see their customers please?
P.Martin-Beades
www.mssi.co.uk
Paul Martin-Beades
Midlands Security, Surveying and Ivestigation
www.mssi.co.uk
Hi,
I've looked at banks for ages now, and the time for a decision is here. We are going to go with the Royal Bank of Scotland. They offer 18 months charge free banking, and it's costs like writing cheques etc you want to keep low. Natwest charge around 70p to write a cheque, and RBS are about 50p. Might not seem much, but you work out all those 20ps over the life of your business, it will soon mount up!
RBS also assign a development manager. When I met with Natwest, they said they would charge me after one hour. I hadn't even opened an account. Needless to say, I won't use them! They do however have some excellent literature. Pop in and ask for a copy, use the information, and then go with someone else.
Make sure you ask about the Small Firms Loan Guarentee scheme. Most banks are not forthcoming with this information, so you need to ask!
Hope this helps.
James
I also looked around for banks last year. The issue I had was that I wanted a Merchant Bank account that would be willing to secure and process my internet orders, as I have set up an internet retailer. I am currently selling Conservatories. I had just set up the limited company / VAT registration etc, but no bank was willing to risk backing a start up internet retailer with a merchant account. I don't really blame them considering my average order value is over
DIY Internet Retailer @ http:/www.diy2go.com
late in on the discussion, but we are in the process of collecting bank literature, but also rating the approach-ability of the "customer interface", found royal bank of scotland pretty unhelpful and the co-operative bank very helpful, the other majors all somewhere in between.
on a different note made appointment with an accountant who was recommended by some friends who use this firm and they were very helpful - personal references and contacts seem to be one of the best ways of finding quality services - hmmm that might be a marketing strategy...
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Hi Paul
I've had good experiences with HSBC for my businesses. I think when most banks offer Telephone Banking they mean that as an additional service rather than instead of branch banking.
I highly recommend getting one with a good FREE internet banking service too - it can be really helpful to be able to see all your latest account information in the evening or at a weekend when you're doing your books!
I, and a few other entrepreneurs I know, have had really bad experiences with Barclays, but otherwise everyone's much the same.
Anyone else got any recommendations?
Steve Parks
Pilot, FlyingStartUps.com