Who's your business banking with?

[Play]

If your in the UK, who's best to open a business bank with?

From what I have learnt, if you have a business name, business bank, then mismatch in names is not a cause for concern, hence why I ask.

[dan_ebay]

natwest are good. Had barclays before and they kept charging me loads of money

[e2free]

Lloyds business quite good fast to open hsbc also good same day they will open. Natwest are useless maybe just in my town give 1 month date for initial appointment. Mismatch is not even issue u can ask paypal to put your business name and u will then withdraw money on that name not on the actual person name.

[e2free]

Most of them give 18 months free banking anyway

[bigbill]

What type of business bank - Ltd or sole trader?

HSBC are great, once bank opened, getting a US bank account setup is easy too. Miss match is fine. With Ltd bank account, £25k overdraft is easily obtainable with a simple business plan too.

[Play]

Originally Posted by bigbill

What type of business bank - Ltd or sole trader?

HSBC are great, once bank opened, getting a US bank account setup is easy too. Miss match is fine. With Ltd bank account, £25k overdraft is easily obtainable with a simple business plan too.

Would be a LTD company, would have to be with mismatched names. Sole trader + stealth name + *long term* ... can and has posed issues.

[bigbill]

In that case, I would recommend HSBC.

Easy to setup as many current accounts as you require from the start for stealth purposes. Just say you required X amount of current account's, 1 for each payment processor/website/ebay shop you run.

[Play]

Originally Posted by bigbill

In that case, I would recommend HSBC.

Easy to setup as many current accounts as you require from the start for stealth purposes. Just say you required X amount of current account's, 1 for each payment processor/website/ebay shop you run.

Any idea who is the cheapest? I know many offer 18 months / 12 months free, but my accounts hardly ever go down, so I'm looking long term here.

[e2free]

Lloyds do electronic tariff for just £5 a month after free banking period. I may sure hsbc do some sort of this aswell as most of bank do for online businesses. Not sure what's the point for Ltd company when you using stealth account?

Paypal will be real problem as they will ask extra information company no. Company registration certificate etc and they can comfrim the owner details from company house including date of birth. Will be real problem I am sure senior member will correct if I am wrong

[Play]

Originally Posted by e2free

Lloyds do electronic tariff for just £5 a month after free banking period. I may sure hsbc do some sort of this aswell as most of bank do for online businesses. Not sure what's the point for Ltd company when you using stealth account?

Paypal will be real problem as they will ask extra information company no. Company registration certificate etc and they can comfrim the owner details from company house including date of birth. Will be real problem I am sure senior member will correct if I am wrong

I run legitimate business' - those details are no issue.

What a LTD company avoids is the excessive mismatch in names, when withdrawing to bank from Paypal. This can, and has, lead to the closure of people's account in the past. That's all I am trying to avoid.

P.S. If one bank rejects your application, others are aware of it. So I am sure the same applies when one bank decides to close you down.

[e2free]

Originally Posted by Play

I run legitimate business' - those details are no issue.

What a LTD company avoids is the excessive mismatch in names, when withdrawing to bank from Paypal. This can, and has, lead to the closure of people's account in the past. That's all I am trying to avoid.

P.S. If one bank rejects your application, others are aware of it. So I am sure the same applies when one bank decides to close you down.

Yeh then LTD is best option!

to be honest I had never issue with LTD and paypal, the funds withdraw from paypal to your bank on company name so no point of mismatch anyway,

lloyds quite good to open an account and will not reject you, depends what u selling,

hsbc account u can even open online and then they will ring u and make decision while on the phone, it will be up and running in a week time where other banks take more then 1 month for ltd company accounts,

pm me if you want help with account

[Play]

Originally Posted by e2free

Yeh then LTD is best option!

to be honest I had never issue with LTD and paypal, the funds withdraw from paypal to your bank on company name so no point of mismatch anyway,

lloyds quite good to open an account and will not reject you, depends what u selling,

hsbc account u can even open online and then they will ring u and make decision while on the phone, it will be up and running in a week time where other banks take more then 1 month for ltd company accounts,

pm me if you want help with account

Cheers. Will do.

[Haidukken]

Props to both users here, having a lovely discussion.

I'm thinking about moving from personal accounts to business as well, so this type of information is always useful.

Thanks guys.

[e2free]

Originally Posted by Haidukken

Props to both users here, having a lovely discussion.

I'm thinking about moving from personal accounts to business as well, so this type of information is always useful.

Thanks guys.

Cheers if you need help drop a post