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Company bank account question

 
 
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Kay
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PostPosted: Sat Oct 17, 2009 8:15 pm    Post subject: Company bank account question Reply with quote

I was talking to a pal of mine and telling him how I'm sick of our company bank account. We've tried for months to get Internet banking, but no joy, and they're always playing silly bu99ers.

My friend recommended a couple of banks which we could use, especially since we are non-resident in the UK. Well, that seemed fine but we've no problem with our personal accounts. It's the business one that's the pain.

My thinking was that since the company is a separate legal entity, and liable to corporation tax etc in the UK, that the account would have to be onshore and would be deemed "resident".

Worst case, we can lumber on with it. We often just end up paying for things out of our personal account and then writing a business cheque (yes, really!) to ourselves to cover any payments. The business bank account is fine for receiving BACS and various payments, it just seems to be so difficult to pay anything out of it. (It's a Scottish bank, by the way. Laughing )

Anyway, at the end of all this discussion my friend said - why don't you ask on the business forum you're a member of? So here I am with the question.

Any help, advice or comments, please?
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seanstevens
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PostPosted: Thu Oct 22, 2009 7:10 pm    Post subject: Reply with quote

I have the same issue with bank accounts. I am currently located in Germany and my business is registered and trades in the UK. So far I have contacted 12 banks regarding opening a new bank account.

10 of them said - NO without going into details.

1 (Barclays) sent me around in circles for two weeks, phoning what would be my local branch and their international department. In the end I gave up as I was just be passed around everyday.

1 (HSBC) originally said no until I told them that I would close my personal accounts with them and move them to Nat West or Barclays. Since then I've been talking to them for the past 3 months to get an account sorted! I have had my passport certified by a German solicitor, had to pay to have 3 years worth of German bank statements copied (my account in Germany does do statements, you have to print yourself out of the cash machine) and also had to complete a 75 page document. I'm now waiting for them to pass my account for opening.. What annoys me is I don't want any credit, credit card or overdraft limit - it is just painful...
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Kay
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PostPosted: Fri Oct 23, 2009 7:18 am    Post subject: Reply with quote

Sorry to hear of your problems, although in a way I'm glad to know I'd not alone. Smile What a total PITA it is. Why does it have to be so difficult? That's what I don't understand.

I'm the same as you, I don't want any credit, cards, or o/d either. I simply want to pay in money and be able to pay out money easily when required. It seems bizarre to me in these days of Internet banking that I should have to go to the extent of writing myself a company cheque and snail mailing it to the bank every time I want to pay for something out of the company's bank account.

I said earlier that our personal accounts are OK. Well, our personal onshore account (Clydesdale bank) is OK now, but that took months of jumping through hoops to achieve. They sent us a leaflet a couple of years ago inviting us to apply for internet banking. Apply online today! Only three easy steps! It turned out like this:

Step 1: Phone them

Step 2: Wait for them to send you a letter inviting you to apply for Internet banking. Fill in all the forms and snail mail them back. Then wait for them to snail mail you your log in details.

and Step 3: Do something online.

That didn't seem to be a simple online process to me. They know who I am. I've had an account with them for more than 20 years. I don't know why they have to make everything so bleedin' difficult. Rolling Eyes

Well, that was nice to get that off my chest. Laughing Thanks.
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