Delighted you found the video helpful Catherine 👍 Out of interest were about to update this video adding in another bank or two. Are there any aspects of your search it would be helpful to add to our updated analysis? And many congratulations on getting started with your business! We wish every success with it!
Nationwide, Barclays? Don't want to take card payments as too expensive. Working in Foot Health Care, never done business before. Not great on apps, will be looking at a bookkeeper to pay tax. May have to take cash, bank transfers, cheques etc. (As a lot of older people need foot care.) Was thinking of Stirling, but know they wont let bookkeeper onto my account. This is driving me crazy, wish could go back in time when banks helped you to run a business. Really appreciate your help Thank you.
Well... this was a really excellent production. It helped me no end in whittling down some prime candidates from what originally looked like a mass of different options. Tons of common sense and a thoughtful, logical, organised approach. Absolutely priceless. Thank you so much, gentlemen. I really cannot thank you enough. You have a new subscriber.
Super informative, really appreciate the well put together information & even made me smile (what were Tide thinking telling you to close & open a new account?!). I think Revolut is the right option for me
Delighted you found the video helpful and allowed you to make the decision for Revolut. Would be great if you can let us know how you get on when you open the account with them 👍
Thanks for sharing your experience and glad you got something sorted with Revolut Gareth. The account opening process is so key but it seems to be a stumbling block for a lot of people much of the time.
Best information to boot, so far ;) My biggest worry for me is the 'KYC (know your customer)' process and supplying biometric data to these 'businesses'. The 'selfie' video for one and whether this information might be shared with various third party customers. If there were a breach of security, I wouldn't be able to change my fingertip or face in comparison to a pin number or memorable information. Secondly, with the push for CBDC, might there be a risk of shutting down an account if the 'powers that be' don't like the way you choose to operate; fairly or not? Do you have any information on this at all? Thanks.
Many thanks for the feedback and will add it to the list. We're trying only to review accounts which we have access to so as to give a real life business view but if opportunity presents itself on Anna Money will for sure do a review on it. 👍
@@basicsofbiz I have no issues with them and the use of AI is better than chtting to a person sometimes and if it cant help you can speak to a human :)
No worries at all and delighted you found the video helpful. Would be great if you can let us know how you get on with Virgin Money. Not a bank we’ve had experience of for business so would be very interested in your experience with them 👍
@@basicsofbiz thanks I will do, I did also find another bank called Allica bank who offer 1.5% cash back and 5% interest on your balance but I need to be incorporated for 6 months before I can apply, I will let you know about them also
Thanks for this really useful video. Which bank would you recommend for a used car sales business? As I've looked into Starling and Monzo both of which do not allow business bank accounts to be opened for used car sales businesses. Thanks.
Many thanks and delighted you found the video useful. We don’t have specific recommendations for specific industries currently but it does seem that the new challenger banks and finance institutions don’t seem to like used car dealers for some reason. Revolut doesn’t either but it looks from Tide list - www.tide.co/support/help/partnerships/which-sort-of-businesses-can-get-a-tide-account/ - that will accept an application. Caveat to Tide though if of course the mandates and other elements we note in the video. Looks therefore like only the big banks are the main options unfortunately but you’ll need to x2 check their websites also re-eligibility. Hope this helps and would be great to find out how you get on and what you decide 👍
@@basicsofbiz Thanks for the reply, I've never used one of the challenger banks so was trying to get some exposure to them but like you said it does seem I'll have to go down the traditional route. I'll keep you posted on how I get on. Thanks.
Many thanks for the feedback. It’s much appreciated! NatWest weren’t included as we currently don’t have access to a business account with them. They’re on the list for a future video though 👍
We’re only giving reviews of business accounts we currently have access to at the moment but hopefully we can do some more shortly. Will add these two to the list for sure 👍
Lloyds bank is a big problem with account opening. It shouldn’t even make up to this list. I registered and it took me 2 years. I have never deposited a dime. I wonder how they get customers 😂
They were certainly not fast in our experience! Question may legitimately be whether they actually want many small business customers and this is one of the ways they try and reduce the number that apply.
@@basicsofbiz Well, I was registering for a personal account at that time. Guess what, I checked the account today and have been to set up the online bank account, with a lot of glitches on the app. I will see how it goes. But as you said, they might be feeling comfortable with what they’ve got, yet nobody knows how banking will be in the next 50 years full of internet addicted clients. Company’s will go out of business if they aren’t upgrading their strategies.
@@CharlieNelsonMan That's great to hear although as we covered that is miles from our experience and others we've talked to. Delighted you got your own quickly though as it makes such a difference when it happens speedily as it should 👍
Key thing is to list out our requirements and then pick an account which matches them the most. The video goes through the categories we think are most important to give you a framework to list your own priorities for your account. Hope it helps 👍
We have not used World First Bank unfortunately so can't say anything on it based on our own experience. Looks like a similar offering to Wise however which you can watch our review on here - th-cam.com/video/0O93pka4MYQ/w-d-xo.html. Hope this helps 👍
Would focus on the digital banks and e-finance institutions - Monzo, Starling, TIDE etc - but you'll need to check their eligibility pages on their website to confirm you and fellow directors and PSCs (i.e. owners of company) meet their criteria as they don't offer accounts to everyone and all business types.
Oh My God! My Head Hurts..Thank you both of you. New to all this, just starting a solo small business. It's very scarey.
Delighted you found the video helpful Catherine 👍 Out of interest were about to update this video adding in another bank or two. Are there any aspects of your search it would be helpful to add to our updated analysis? And many congratulations on getting started with your business! We wish every success with it!
Nationwide, Barclays? Don't want to take card payments as too expensive. Working in Foot Health Care, never done business before. Not great on apps, will be looking at a bookkeeper to pay tax. May have to take cash, bank transfers, cheques etc. (As a lot of older people need foot care.) Was thinking of Stirling, but know they wont let bookkeeper onto my account. This is driving me crazy, wish could go back in time when banks helped you to run a business. Really appreciate your help Thank you.
Well... this was a really excellent production. It helped me no end in whittling down some prime candidates from what originally looked like a mass of different options. Tons of common sense and a thoughtful, logical, organised approach. Absolutely priceless. Thank you so much, gentlemen. I really cannot thank you enough. You have a new subscriber.
Thanks Neil. Really appreciate your feedback and delighted the video was helpful. Hope you enjoy the upcoming content also 👍
Loved the analysis put into it. Much appreciated
Delighted you found the video helpful 👍
Super informative, really appreciate the well put together information & even made me smile (what were Tide thinking telling you to close & open a new account?!). I think Revolut is the right option for me
Delighted you found the video helpful and allowed you to make the decision for Revolut. Would be great if you can let us know how you get on when you open the account with them 👍
Very helpful video, thank you!
No problem at all. Delighted you found the video helpful 👍
very useful video. thnks for taking the time to review all of these
No problem at all and delighted you found the video useful 👍
I had massive issues with opening a Starling biz acc. Went straight to Revolut and no problems.
Thanks for sharing your experience and glad you got something sorted with Revolut Gareth. The account opening process is so key but it seems to be a stumbling block for a lot of people much of the time.
Great video! Thanks
Many thanks for the feedback and delighted you found the video helpful 👍
Amazing video. Thanks!!
Delighted you enjoyed it 👍
Great review thanks
Delighted you found the video helpful 👍
Best information to boot, so far ;)
My biggest worry for me is the 'KYC (know your customer)' process and supplying biometric data to these 'businesses'. The 'selfie' video for one and whether this information might be shared with various third party customers. If there were a breach of security, I wouldn't be able to change my fingertip or face in comparison to a pin number or memorable information. Secondly, with the push for CBDC, might there be a risk of shutting down an account if the 'powers that be' don't like the way you choose to operate; fairly or not?
Do you have any information on this at all?
Thanks.
Would be good if you reviewed Anna Money
Many thanks for the feedback and will add it to the list. We're trying only to review accounts which we have access to so as to give a real life business view but if opportunity presents itself on Anna Money will for sure do a review on it. 👍
@@basicsofbiz I have no issues with them and the use of AI is better than chtting to a person sometimes and if it cant help you can speak to a human :)
thanks guys great advice! i went with starling for fee free spending abroad and virgin money for the 0.35% cashback on spending
No worries at all and delighted you found the video helpful. Would be great if you can let us know how you get on with Virgin Money. Not a bank we’ve had experience of for business so would be very interested in your experience with them 👍
@@basicsofbiz thanks I will do, I did also find another bank called Allica bank who offer 1.5% cash back and 5% interest on your balance but I need to be incorporated for 6 months before I can apply, I will let you know about them also
Cheers fellas
No worries at all. Delighted you found the video helpful 👍
Thanks for this really useful video. Which bank would you recommend for a used car sales business? As I've looked into Starling and Monzo both of which do not allow business bank accounts to be opened for used car sales businesses. Thanks.
Many thanks and delighted you found the video useful. We don’t have specific recommendations for specific industries currently but it does seem that the new challenger banks and finance institutions don’t seem to like used car dealers for some reason. Revolut doesn’t either but it looks from Tide list - www.tide.co/support/help/partnerships/which-sort-of-businesses-can-get-a-tide-account/ - that will accept an application. Caveat to Tide though if of course the mandates and other elements we note in the video. Looks therefore like only the big banks are the main options unfortunately but you’ll need to x2 check their websites also re-eligibility. Hope this helps and would be great to find out how you get on and what you decide 👍
@@basicsofbiz Thanks for the reply, I've never used one of the challenger banks so was trying to get some exposure to them but like you said it does seem I'll have to go down the traditional route. I'll keep you posted on how I get on. Thanks.
@@thebeardedcartradergood luck and please do let us know how you get on with the traditional bank you end up choosing 👍
Thank you very much for a great video: May I ask: why wasn’t NatWest included?
Many thanks for the feedback. It’s much appreciated! NatWest weren’t included as we currently don’t have access to a business account with them. They’re on the list for a future video though 👍
@@basicsofbiz 👍🏾😂
@@basicsofbiz could you also include TSB in a future video?
@@bilalmohammed3939 For sure. Working on adding this to the list as we speak so will for sure include it going forward 👍
What about Virgin and newest mettle
We’re only giving reviews of business accounts we currently have access to at the moment but hopefully we can do some more shortly. Will add these two to the list for sure 👍
Lloyds bank is a big problem with account opening. It shouldn’t even make up to this list. I registered and it took me 2 years. I have never deposited a dime. I wonder how they get customers 😂
They were certainly not fast in our experience! Question may legitimately be whether they actually want many small business customers and this is one of the ways they try and reduce the number that apply.
@@basicsofbiz Well, I was registering for a personal account at that time. Guess what, I checked the account today and have been to set up the online bank account, with a lot of glitches on the app. I will see how it goes. But as you said, they might be feeling comfortable with what they’ve got, yet nobody knows how banking will be in the next 50 years full of internet addicted clients. Company’s will go out of business if they aren’t upgrading their strategies.
Ours were quick we got ours opened in 2 days after filing our application on a Friday and got our account details on a Tuesday morning
@@CharlieNelsonMan That's great to hear although as we covered that is miles from our experience and others we've talked to. Delighted you got your own quickly though as it makes such a difference when it happens speedily as it should 👍
What about Mettle? Would like to see that included.
Thanks for the feedback. Will add to the list if we can at a future date 👍
What can be a good account option for single truck owner and driver.
Key thing is to list out our requirements and then pick an account which matches them the most. The video goes through the categories we think are most important to give you a framework to list your own priorities for your account. Hope it helps 👍
would you suggest an account to use for my e commerce business. i want to link it to stripe account
i want to ask about WorldFirst Bank.
We have not used World First Bank unfortunately so can't say anything on it based on our own experience. Looks like a similar offering to Wise however which you can watch our review on here - th-cam.com/video/0O93pka4MYQ/w-d-xo.html. Hope this helps 👍
Can somebody help me to open business Bank account from India digitally
Which bank will offer this facility in UK
Would focus on the digital banks and e-finance institutions - Monzo, Starling, TIDE etc - but you'll need to check their eligibility pages on their website to confirm you and fellow directors and PSCs (i.e. owners of company) meet their criteria as they don't offer accounts to everyone and all business types.