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Safest Uk Bank

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I was wondering if any of you had any thoughts on which UK banks are good / best for a business account. I am thinking of course of least likely to end up going under / safest. All thoughts welcomed.

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HSBC and Barclay's are the safest banks in the UK IMO. But I just run my business from my personal account, business accounts aren't necessary if you don't need a business overdraft or use your bank as a merchant account, in both cases banks would screw you over anyway and you can get merchant accounts from online vendors instead.

Obviously if you are running your business as an LLC rather than self employed you will need a business account I think.

May I ask what business you are getting into?

Edited by Saberu

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I`ve found that once you start using a private account for business and cheques or transactions go above a certain amount per month, the bank will query your status and ask you to open a business account.

I bank with Barclays....extortionate charges as usual,but I prefer the convenience of having a branch five minutes away from where I live.

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HSBC and Barclay's are the safest banks in the UK IMO. But I just run my business from my personal account, business accounts aren't necessary if you don't need a business overdraft or use your bank as a merchant account, in both cases banks would screw you over anyway and you can get merchant accounts from online vendors instead.

Obviously if you are running your business as an LLC rather than self employed you will need a business account I think.

May I ask what business you are getting into?

Yes exporting whisky across the Atlantic.

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I`ve found that once you start using a private account for business and cheques or transactions go above a certain amount per month, the bank will query your status and ask you to open a business account.

I bank with Barclays....extortionate charges as usual,but I prefer the convenience of having a branch five minutes away from where I live.

Funnily enough Barclays is also the only bank in my hometown too. When you say 'ask' you to open a business account do you mean ask or force? IE you must get a business account or they close your personal one as that sounds strange.

Also how many transactions is a 'certain amount' ? (at least roughly), I doubt i'll be making more than 500 per month.

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I use Cater Allen, but for me its pure business banking. I'm not looking for overdrafts or loans.

http://www.caterallen.co.uk

Previously Fleming Bank, but now part of Santander.

Excellent phone support from Bradford. Always get through quickly and a good web interface too for managing the account.

No branch network, but you can pay cheques in at any RBS branch.

Edited by HostPaul TAFKA Rover2000

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Funnily enough Barclays is also the only bank in my hometown too. When you say 'ask' you to open a business account do you mean ask or force? IE you must get a business account or they close your personal one as that sounds strange.

Also how many transactions is a 'certain amount' ? (at least roughly), I doubt i'll be making more than 500 per month.

I`m guessing on the amount you mentioned but I reckon they would ask (yes force) you to open business account or leave,if you were having up to 500 transactions a month.

I was coerced into opening one <_< but at least the bank manager used my services at a later date....I was paying in twenty cheques a week.

I must admit I had my name with the type of business at the end (donald duck transport) so it was obvious it was a business.

I used to ask my customers to write cheques to donald duck but many times added transport,so the cheques didnt tie in with the name on my private account and the bank sometimes wouldnt accept them....obviously this may not be of a concern with you if its internet based and all electronic ?

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I was wondering if any of you had any thoughts on which UK banks are good / best for a business account. I am thinking of course of least likely to end up going under / safest. All thoughts welcomed.

I'm with A&L, part of Santander.

Free biz banking if you have a grand a month coming into account.

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I'd say you should have a sep business account because that way it's easier to do your tax returns etc.

And factor in which bank is less of a PITA to get too as well - are the govt ownd banks not recommended by anyone?

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They are all equally unsafe in my opinion. Not one single person has lost (or will lose) any money because the government guarantees them. They have been perfectly true to their word so far.

What puzzles me is this. How can you have a depression without anyone losing any money? Answer is simple, you cannot. So who is losing money?

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They are all equally unsafe in my opinion. Not one single person has lost (or will lose) any money because the government guarantees them. They have been perfectly true to their word so far.

What puzzles me is this. How can you have a depression without anyone losing any money? Answer is simple, you cannot. So who is losing money?

Hyper inflation means people's money loses real value and is a depression.

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