Recommendations for business banking

[Marsellus Wallace 0]

Does anyone have a bank they can recommend that works well for buying and selling vehicles,especially vehicles from private sellers(making bill payments etc)

Currently with HSBC but finding them hard work so looking to move.Looked at Barclays but not confident in payment process when travelling a long distance to buy from customer-they told me occasionally payments would be sent the following day-meaning an overnight stay sometimes.

[Mikey 19]

I'm with RBS (soon to be Williams & Glynn again), and find them great. I've got the business banking app and that let's you access your account 24 hours on the move. You can set up new payees on it and transfer funds immediately. I think it qualifies for the faster payment service so in theory they get the funds immediately, but they cover their behinds by stating two hours.

 

[russp 10]

I have used HSBC for years and only ever had one payment that didnt go straight through but a quick phone call sorted it immediately.

If a payment is delayed coming in it is always on the part of the buyers bank so is out of HSBC's control.

Is it a business account you have with HSBC or a personal account?

I also use the app or internet banking to make my transfers and it is simple as can be. I think all the main banks subscribe to faster payments now.

HSBC costs £5.50 a month but all internet transactions are free and faster payment limit up to £250,000 so should cover most cars you want to buy

[Marsellus Wallace 0]

20 hours ago, russp said:

I have used HSBC for years and only ever had one payment that didnt go straight through but a quick phone call sorted it immediately.

If a payment is delayed coming in it is always on the part of the buyers bank so is out of HSBC's control.

Is it a business account you have with HSBC or a personal account?

I also use the app or internet banking to make my transfers and it is simple as can be. I think all the main banks subscribe to faster payments now.

HSBC costs £5.50 a month but all internet transactions are free and faster payment limit up to £250,000 so should cover most cars you want to buy

My experience with HSBC has been quite different.

Nearly every payment made flagged up for additional security checks-having to hang about for hours waiting for customer to receive payment.A simple change to my account from sole trader to partnership has taken 3 months so far to complete and still not done.No point of contact,people in branch and on phone could not care less.

Im not up there with the Pendragons and Stratstones of this world but I turn over £1-2m per year so should be looked after better.

[Mat C 77]

Santander for me - First year free, easy set up, only problem i've had is increasing my overdraft - so only have a poxy £1000

I have 3 accounts linked, warranty, current and also a savings  ( which is constantly empty! ) 

Been great for me - app, faster payments, easy to use website ( not needing war and peace to log in, but secure enough to give peace of mind )

 

[colnecarcentre 2]

I've used Barclays for years!

Bank charges work out at £6.50 per month, then I get a loyalty reward back of something like £1.85 for some reason.

We use faster pay a lot. Only time one has ever gone overnight was from First Direct on a car that the customer came to see at 6.00pm on a Wednesday night but wanted to take with her.