Online business account/bank

[Tuearts right boot]

Any one got any pointers for the above. Actual banks are a bit thin on the ground around here and we need a 3rd business account and dont really want to put all our eggs in one basket so to speak. Looking at an online bank and need to take into account ease of use, the Gov. £85k guarantee etc etc. There wont be a great deal of activity, it's for a holiday rental so just basic transactions, BACS, standing orders.

 

[brooklandsblue2.0]

Coutts are pretty good.

 

[Scottyboi]

Monzo

 

[kaz7]

Santander are good

 

[gandalfthebrave]

I've been impressed with Starling who I used for a side business. They've been really responsive and helpful when I've needed them. Not much more to say - opened the account via their app, no physical paperwork needed.

A far cry from setting up business accounts with HSBC and RBS for my other companies - that was a nightmare and a long process. Starling took under 24 hours.

 

[TheRemainsOfTheDave]

Cater Allen are okay. You'll want one that integrates easy with accountancy software if you've a lot of transactions.

They're part of Santander I believe.

 

[stonerblue]

Can you not just use a normal account?

 

[TheRemainsOfTheDave]

Can you not just use a normal account?

You can if there's not too many transactions, but would have to check the Ts & Cs of the personal account to be sure.

 

[Lee1983]

Just recently opened a monzo business account as a back up account that I can give access to some staff, (£5 per month). No problems so far.

 

[stonerblue]

You can if there's not too many transactions, but would have to check the Ts & Cs of the personal account to be sure.

As a sole trader i just use my personal account for all works stuff which, up until recently was, pay in cash, standing order for rent and pay for stock with debit card.
I'm getting more and more card payments now and they go through 'paypal here' then i transfer into current acc.
i can't see why i'd need a business account but i'm sure the bank would find a reason.