Choosing which bank offers the best business bank accounts can be a tricky process. This is because the market is highly competitive – banks love business as customers and work exceptionally hard to win new business. Three of the main business banks in the UK are Lloyds, Nat West and HSBC. These are the highlights of the core services and features offered by each of these banks.
Nat West Business Banking
Nat West offers one of the best business bank accounts for new business. For first two years of trading all new ventures receive a free business account. Of course, it is important to check the rates and charges that are incurred after this wonderful fee free period. Nat West provides all businesses with a dedicated bank manger so that the entire banking process is easy. They offer business insurance, discounted membership programmes and financial planning and support.
Lloyds Business Banking
Lloyds TSB Commercial offers a great business package for new business. New start-ups receive 18 months free banking (day to day), a special relationship manager and great guidance and support. The free banking covers depositing and withdrawing cash, paying in or issuing cheques and funding standing orders. Deposits and withdrawals are limitless. The Business Extra Tariff applies after the 18-month period expires. Lloyds also offers Sage Planning for Business Software to help you to plan and launch your new business.
HSBC Business Banking
HSBC is one of the best business bank accounts because they offer flexible and supportive service. There are branches in multiple locations throughout the UK. For small businesses there is 18 months free business banking, provided that your turnover is below one million pounds. If you need to deposit cash and cheques on a regular basis (as most small businesses do) you can do so using the dedicated business teller. HSBC has an online Knowledge Centre and Business Network. The Knowledge Centre provides a range of information linking to essential planning, launching, running and growing your new business. There is business TV, great articles and free business software for HSBC customers.
The Right Bank For Your Business
Ultimately, every business has different needs and requirements. Finding the best business bank accounts will require having a clear and decisive business plan and a strong understanding of your precise business requirements. This way, you can select a bank that can provide you all of the services and features that you need.
Related posts:
Business Banking News