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Best Business Bank Account

Find the best business bank account often known as "best buy" accounts from the information we have collated below.

Some banks offer free accounts for life or just 18 months but almost all offer online banking certainly the big four do at HSBC, Barclays, Natwest and Lloyds TSB and there are internet banks also. It may be better to stick to one of the banks based in the UK to ensure you are covered by any government guarantees.

Most banks offer interest on credit balances but this is a paltry 0.1% in many cases so check the small print for this and what the amount may be in their savings accounts first.

Barclays Business Banking

For companies with turnovers up to £5 million Barclays offers selection of business bank accounts to suit various banking needs. Start-up businesses with Barclays are usually able to take advantage of free banking for 12 months and can also benefit from the following :

The business tools include packages to plan for success, market your business, access over 2,000 online training courses and control your cashflow.

More information at Barclays Business Home Page

HSBC Business Bank Account

HSBC offers 18 months free banking for businesses with turnover up to £500,000 (above that there may be charges) and now has a dedicated call centre. You can also use their internet banking system or automated telephone banking. Key benefits are as follows:

More information at HSBC Business Home Page

Natwest Business Banking

Like the other banks, Natwest offers similar products and like Barclays has some premium products. For start up businesses with a turnover of less that £1 million the benefits are as follows:

More information at Natwest Business Home Page

Lloyds TSB Business Bank Accounts

Lloyds TSB also owns the Halifax Bank and is partly owned by the UK government and they offer standard business bank accounts and similar benefits for start up small businesses . Lloyds also offer discounts off Sage Accounting products which you may or may not need at the start-up stage of your business but do offer additional help through a relationship manager if you require it.

If you are moving to Lloyd TSB you get 6 months fee free banking and an interest free £5,000 overdraft facility whilst you are moving banks.

More information at Lloyds TSB Business Home Page

Alliance & Leicester Business Banking

Alliance and Leicester part of the Santander Group which also owns Abbey is a newcomer to the business banking world and offers the most competitive rates for new startups in that their bank account is fee free for life so long as the turnover of the business is less than £1 million which should be suitable for almost all new businesses.

More information at Santander Home Page