Compare Business Bank Accounts

From the data publically available we compare business bank accounts from all the major banks to provide you with the data to make an informed decision before opening your account.

Most deals operate for new start-ups but for businesses trading over 6 months you can also get free banking from most of them. Decided what your priorities are for your business before choosing your account from the comparison below. We have selected the five top banks including HSBC, Barclays, Lloyds TSB, Natwest and Alliance and Leicester although there are others available.

Small Business Bank Accounts - Startups

For new businesses that haven't had a bank account before the banks offer their best deals normally in the form of fee free banking for x number of months together with a few freebies that you could pick up whether you are a customer or not. Here are the key numbers:

Fee Free Banking Period Offered - this initial period is generally for new start-ups only. Some of the banks offer a fee free period for switching accounts from another bank but it is much less.

• HSBC - 18 months
• Barclays - up to 24 months
• Natwest - 24 months
• Lloyds TSB - 18 months
• Alliance & Leicester - 24 months then for life

All banks offer telephone banking, internet or online banking and branch access.

Common Fees After End of Free Banking

Common fees after fee free banking period completes (for Alliance and Leicester there are still no charges).

Monthly Fee

• HSBC - £3.15 - small business tariff up to £500,000 turnover
• Barclays - £5.50 - standard business tariff
• Natwest - £6.00 - standard menu tariff - minimum charge of £10/month
• Lloyds TSB - £5.00 - business extra tariff
• Alliance & Leicester 24 months then fee free for life

Standing Orders

• HSBC - 54p per s/o
• Barclays - 54p per s/o
• Natwest - 45p per s/o
• Lloyds TSB - 40p per s/o
• Alliance & Leicester - 0p

Automated deposits

• HSBC - 18p per credit
• Barclays - 15p per credit
• Natwest - 22p per credit
• Lloyds TSB - 20p per credit
• Alliance & Leicester - 0p

Branch deposits

• HSBC - 74p per credit
• Barclays - 75p per credit
• Natwest - 63p per £100
• Lloyds TSB - 70p per credit
• Alliance & Leicester - 0p

Existing Businesses - Switching Accounts

The same tariffs apply for those businesses wishing to switch from their existing bank to another bank. The banks also offer a fee free banking period in some cases as follows:

• HSBC - 18 months
• Barclays - 0 months
• Natwest - 0 months
• Lloyds TSB - 6 months
• Alliance & Leicester 24 months then for life

Most banks also offer to do the leg work for you and transfer over all your existing standing orders and direct debits - this saves a lot of time so it's worth checking if this is available.

Other Business Banking Accounts

We've selected the five most popular banks to compare prices for this exercise but there are others out there you may want to research before making a decision and we've listed them below:

• Abbey business banking
• Clydesdale Bank Business Bank Account
• Royal Bank of Scotland Business Bank Account
• Nationwide Business Account
• Allied Irish Bank Business Bank Account
• Bank of Scotland Business Bank Account
• Cater Allen Business Bank Account
• Co-operative Bank Business Bank Account
• Bank of Ireland
• Halifax Business Bank Account
• Ulster Bank
• Yorkshire Bank Business Bank Account

If there are others to add to the list to compare business banks accounts then please let us know.

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