I appreciate this video a lot, thank you. Could you do a video for the best ‘business’ bank accounts for receiving international payments? I tried to use my Monzo but many companies don’t like that you’d have to go through a third party such as TransferWise, and so don’t support it
andy, thank you for the video but it would've been SO much more helpful to have timestamps to quickly go to the relevant parts the viewer needs. Business people are busy as you know :)
Hi there. I just found this video, very useful. Thanks. I wanna register an LTD and open an online business, so I'm looking for the best option as a business bank account. So far I would go for Starling after comparing with other providers. Are you aware of any other fees? Does they have good conversion for international payments? Other than Starling, I also noticed Tide or Cashplus. What do you recommend between those 3?
I would use Anna possibly, but they're all much of a muchness, as they despise their customers, and support is mostly useless. Metro is vaguely ok as at least they still have a telephone!
Nice video! Can we get an updated video with new information about which is the best business bank account for UK. I had very bad experience with Starling, been rejected a few times without explanation why, although I have excellent credit score. Recently I have opened new company and decided to bank with Starling but like I said they rejected me twice with no reason and no explanation why.
Hi Andy, I switched my business banking from Natwest to Starling. On the whole it has been a positive experience but I am glad I didn't close my Natwest account because Starling won't let me pay my supplier in India! What's that all about?
Hello Andy , I just opened business account with virgin money, is it worth to change it with Starling or Monzo? Is virgin money ok?Can I have your opinion pls? tia
For multiple businesses I would think limited company and even for even one business..all goes in one account..some payment methods charge fees and to list PayPal is an option. Thank you for video
Hi Andy just a quick one pal I had a metro business account they’ve closed my account I’m looking to setup a new business account but finding it very difficult. Could you please advise
If I have a registered business in the UK, do I need to be physically present or be a resident in the UK before I can open a Sterling business account?
Hi Kenroy, no, you're not tied in so you can switch. I've done this in the past a few times to avoid the fees, but I've now settled with Starling which is free
@@BeCleverWithYourCash awesome. This was a great video 👌 as I'm thinking of starting a buy to let business and I need to register with a business account. Really helpful. Keep up the great content
I tried to set up a starling business account but they declined me which was odd. Accepted my current account but not business even though I have great credit etc. I am a small ltd business selling flowers and plants in the uk. Don’t make any international payments, what’s the next best account? High street banks any good?
The exact same happened to me! Very annoying, especially after having a current account with them for a whole year… if you learn how to get accepted, can you let me know please?
You could do as I used to which was take advantage of the free 12 to 18 months as a new customer, then switching for another, and then again. But eventually you'll run out of those and either have to pay or try one of the digital banks. Check out the article with more details on all those accounts.
I am not registered as Self employee yet, but I will have to by 04/10/21. Could I open a personal banking account on Barclays and just using it for my business? Also, I already have a Monzo, and I already paid £2100 between courses and equipment for my trade (massage and personal training), I am also a bit confused about the pre-trading expenses that can be claimed within 7 years. if you have any video on that please send the link
Hi Andrea. Yes as a sole trader you can have a personal account with any bank. Afraid I can't help you on pre-trading expenses. But I'm sure there are some great resources out there
Thanks Andy for all those very useful information. I’m in the process of buying and taking over a small limited company. With this business, there we will be taking a lot of card transactions with £10-20 amounts from the customers. Kindly any suggestions for what type of device device and bank to use to take payments from the customers. As its a small business, the more we can save on card transactions the better. Any kind advice will be welcomed. Many thanks. Muhammad Salah.
Do I need a business account ? I have a limited company and it is a side business. I am the only person who will ever be on the shareholder agreement. Please advice
I have business Barclays account, after a year, they start charging £6,50 monthly, due to the covid the service we provide has been affected :( which bank account should I choose now?
Sorry to hear the business is still impacted. My personal fave is Starling but it won’t be suitable for all. Check out the video to see the pros and cons
If you do a lot of spending or invoicing in different currencies then it’s worth looking at TransferWise to help reduce the costs. But for everyday banking I prefer the other options
Can you have more than one Business Account in the UK say I start a Starling for most transaction but have the bulk to save on fees but I keep the bulk of my money in one of the. high street banks so it is more protected?
Of course you can. But money in Starling is just as protected (by law) as other high street banks. You should only do this if the amounts are huge (to reduce risks of keeping too much ina single account).
If it's all digital and you don't need access to a bank I'd recommend going with Starling or Monzo. And if you're not a limited company you can just open up the personal accounts which are much easier to sort.
Are you asking about cancelling a business current account? If so you can always move your business bank account to another bank and stop paying the fee when you do. You can usually use the switching service too. If it's the limited company you want to close then yes you can do this, but it's more complicated. I found this guide which might be helpful www.crunch.co.uk/knowledge/limited-company/how-to-close-limited-company-down-options/
@@BeCleverWithYourCash I've read some bad reviews of past customers needing customer support waiting 5 days ? Specially in cases of unknown cash being taken out and waiting forever to be paid back to them?
Heya Andy, I already have a Starling personal account. In order to avoid many transaction fees as I often go to the band to put money in my account, could i deposit into my personal then transfer over to my business account?
It's hard to fine the info on their site, but I think there will be ID checks to prove you are who you say you are (to prevent money laundering). If you need an overdraft then there will be a full credit check.
Hi Andy, LLOYDS is closing down our business account, our turnover is around £2.9-3.1million, lucky we have a online business cashplus account, we also opened yesterday card one banking, here we can go to Barclay and deposit cheq, cash, etc, any tips of any good accounts for business online, other then the ones we have, thanks
would love a 2023 update here, comparing paid business accounts as well. Appreciate all your videos 😃
We should have a new version of this topic in 2022! Thanks Andy
We're with Santander for our business. We started it long enough ago that it is fee free, and so far, fingers crossed, it's been alright
That’s great they’ve not stated charging!!
I appreciate this video a lot, thank you. Could you do a video for the best ‘business’ bank accounts for receiving international payments? I tried to use my Monzo but many companies don’t like that you’d have to go through a third party such as TransferWise, and so don’t support it
Try Remittly
andy, thank you for the video but it would've been SO much more helpful to have timestamps to quickly go to the relevant parts the viewer needs. Business people are busy as you know :)
Incredible, seamless content. Well done!
Thanks!
very good information! appreciate it.
Hi there. I just found this video, very useful. Thanks.
I wanna register an LTD and open an online business, so I'm looking for the best option as a business bank account. So far I would go for Starling after comparing with other providers. Are you aware of any other fees? Does they have good conversion for international payments?
Other than Starling, I also noticed Tide or Cashplus. What do you recommend between those 3?
I would use Anna possibly, but they're all much of a muchness, as they despise their customers, and support is mostly useless. Metro is vaguely ok as at least they still have a telephone!
Tide won’t support some business models and I’m currently dealing with cash plus and they are absolute arse
Nice Video Andy! Think I’ll stick with my current account for now until I open a Ltd company down the line 😊
Yes no rush just yet!
Thanks very much! Really helpful!
Really helpful. Thank you! Subscribed
Thanks for the sub!
Great video , thank you
wow, very helpful in special for my kind of business which most of the time required me to deposit cash.
Glad it helped!
Video starts at 3:30
Nice video! Can we get an updated video with new information about which is the best business bank account for UK. I had very bad experience with Starling, been rejected a few times without explanation why, although I have excellent credit score. Recently I have opened new company and decided to bank with Starling but like I said they rejected me twice with no reason and no explanation why.
I've had this experience too and their customer service is laughable
This video was very helpful in my business
Great, glad I could help!
I didn't even know free business accounts were a thing!
I was surprised there were charges when I first started out!
what about Revolut? I have seen they have also a Bussiness section
they are turds, vermin - check out Wikipedia - it's so appalling it's official
Hi Andy, I switched my business banking from Natwest to Starling. On the whole it has been a positive experience but I am glad I didn't close my Natwest account because Starling won't let me pay my supplier in India! What's that all about?
Just go with Chase. Enough said.
You can’t make or receive international transactions with chase so if you have an on line buisness they are no good
Can you suggest the optimal business savings account?
Is legal Tò Have more business account with different service for example a account with Wise and One with Revolut for Company?
Hello Andy , I just opened business account with virgin money, is it worth to change it with Starling or Monzo? Is virgin money ok?Can I have your opinion pls? tia
Hi , are they good for Amazon business ?
What is the best bank for import Ltd that can give good currency rates?
Looking for 2023 version of it mate
For multiple businesses I would think limited company and even for even one business..all goes in one account..some payment methods charge fees and to list PayPal is an option. Thank you for video
If you’re a small business you can get away with using a spare current account you only use for business purposes
Absolutely. As long as you're a sole trader
What happens if have more then £85,000 is still protected by the government compensation scheme
Hi Andy just a quick one pal I had a metro business account they’ve closed my account I’m looking to setup a new business account but finding it very difficult. Could you please advise
If I have a registered business in the UK, do I need to be physically present or be a resident in the UK before I can open a Sterling business account?
Hi if you are setting up a group business with 2+ people what would be the best bank account to go for?
Really appreciate you, what business bank account offers the highest interest on money on account?
Non of them pay you interest as far as I’m aware. They charge you for the privilege of you lending them money.
After the free period are you tied into a contract? For example 18 months, would you have to stay for a further 6 months to make it 24 months
Hi Kenroy, no, you're not tied in so you can switch. I've done this in the past a few times to avoid the fees, but I've now settled with Starling which is free
@@BeCleverWithYourCash awesome. This was a great video 👌 as I'm thinking of starting a buy to let business and I need to register with a business account. Really helpful. Keep up the great content
Coconut now is not free at all. Charges £6 to £12 depending on your plan. That's why I'm looking to switch.
Thanks Ginger. I’ve been very happy with Starling
I tried to set up a starling business account but they declined me which was odd. Accepted my current account but not business even though I have great credit etc. I am a small ltd business selling flowers and plants in the uk. Don’t make any international payments, what’s the next best account? High street banks any good?
The exact same happened to me! Very annoying, especially after having a current account with them for a whole year… if you learn how to get accepted, can you let me know please?
what high street bank would you recommend for a business account with no fees as my business does not deal with cash and is all online
You could do as I used to which was take advantage of the free 12 to 18 months as a new customer, then switching for another, and then again. But eventually you'll run out of those and either have to pay or try one of the digital banks. Check out the article with more details on all those accounts.
How much is it ? Transfer and sending if any charge do come up ?
there aren't any, all high street banks charge, except for their teaser intro deals
What is virgin business accounts like
I am not registered as Self employee yet, but I will have to by 04/10/21. Could I open a personal banking account on Barclays and just using it for my business?
Also, I already have a Monzo, and I already paid £2100 between courses and equipment for my trade (massage and personal training), I am also a bit confused about the pre-trading expenses that can be claimed within 7 years. if you have any video on that please send the link
Hi Andrea. Yes as a sole trader you can have a personal account with any bank.
Afraid I can't help you on pre-trading expenses. But I'm sure there are some great resources out there
Thanks Andy for all those very useful information.
I’m in the process of buying and taking over a small limited company. With this business, there we will be taking a lot of card transactions with £10-20 amounts from the customers. Kindly any suggestions for what type of device device and bank to use to take payments from the customers. As its a small business, the more we can save on card transactions the better.
Any kind advice will be welcomed.
Many thanks.
Muhammad Salah.
What type of business do you do and is it it your own do you have any other types of platforms ?
What's the best type of software like quickbooks any ideas? Link to HMRC easy and send and receive payments ?
Xero
QuickBooks is the only cloud software to have decent support, and a telephone too
Is Starling still king as of 2022?
What's the easiest and fastest business bank you can open . . Starling is taking longer that usual . .
Do I need a business account ? I have a limited company and it is a side business. I am the only person who will ever be on the shareholder agreement. Please advice
Hi Kam. Yes as a limited company you need a full business current account.
Hi have you heard about starling bank being bought out should I still get a account
I’ve looked into this and couldn’t see anything - not to say it won’t happen at some point. But I wouldn’t let that put me off
I have business Barclays account, after a year, they start charging £6,50 monthly, due to the covid the service we provide has been affected :( which bank account should I choose now?
Sorry to hear the business is still impacted. My personal fave is Starling but it won’t be suitable for all. Check out the video to see the pros and cons
I applied recently for that one. Obviously I will close it after a year 🤣
How does Transferwise compare with these accounts?
If you do a lot of spending or invoicing in different currencies then it’s worth looking at TransferWise to help reduce the costs. But for everyday banking I prefer the other options
Can you have more than one Business Account in the UK say I start a Starling for most transaction but have the bulk to save on fees but I keep the bulk of my money in one of the. high street banks so it is more protected?
Of course you can. But money in Starling is just as protected (by law) as other high street banks. You should only do this if the amounts are huge (to reduce risks of keeping too much ina single account).
of course
What is Starling like for ecommerce/ taking international payments?
or making international payments
Terrible
You said quickbook and zero what is never heard of zero integrated need to find which is better fir me hmm
It's spelt Xero, you'll be able to search that via Google :)
That's good but is it better you feel integrated with other apps quick book looks expensive
How do I register
What about ANNA accounts?
What about anna money is it ok
Me and my brother are starting an Airbnb we need a join account what’s the best bank we should go with
If it's all digital and you don't need access to a bank I'd recommend going with Starling or Monzo. And if you're not a limited company you can just open up the personal accounts which are much easier to sort.
@@BeCleverWithYourCash we tried both of these accounts and they don't except partnership accounts.
Intact we are struggling to find any
Nope.
Wow should've watched this before I registered an Ltd.
Can i cancel?
Are you asking about cancelling a business current account? If so you can always move your business bank account to another bank and stop paying the fee when you do. You can usually use the switching service too.
If it's the limited company you want to close then yes you can do this, but it's more complicated. I found this guide which might be helpful www.crunch.co.uk/knowledge/limited-company/how-to-close-limited-company-down-options/
your reviews ignore Support. e.g. Revolut is terrible, but Starling is merely useless.
The delay with Starling can be frustrating, even if it’s just 20 minutes. But it’s been decent enough when I’ve needed to use it
@@BeCleverWithYourCash I've read some bad reviews of past customers needing customer support waiting 5 days ? Specially in cases of unknown cash being taken out and waiting forever to be paid back to them?
Heya Andy, I already have a Starling personal account. In order to avoid many transaction fees as I often go to the band to put money in my account, could i deposit into my personal then transfer over to my business account?
Hey monzo business account do they do a full credit check?
It's hard to fine the info on their site, but I think there will be ID checks to prove you are who you say you are (to prevent money laundering). If you need an overdraft then there will be a full credit check.
@@BeCleverWithYourCash sorry,another question what's the limit you can deposit in the account?
of course
all banks do if you are opening an account
like like
Hi Andy, LLOYDS is closing down our business account, our turnover is around £2.9-3.1million, lucky we have a online business cashplus account, we also opened yesterday card one banking, here we can go to Barclay and deposit cheq, cash, etc, any tips of any good accounts for business online, other then the ones we have, thanks