Business Bank Account

Here we explain what needs to be done with your Business Bank Account

Opening a Business Bank Account

Before you start your business, you will also need to open a business bank account. This is where money can be kept, and spent by your Company, on all things that it may need.

Lots of banks offer bank accounts targeted specifically for business use – commonly called Business Bank Accounts. Most charge a small flat monthly fee, and then maybe a small percentage fee for any “cash only” transactions (e.g. cash withdrawals from an ATM).

Who we recommend!

We quickly scoped the market, and choose Lloyds, mainly for the following reasons:

• Their business bank account was free to use for 18 months (with no monthly fee!)
• We liked their friendly and intuitive online graphical user interface of their website.
• We were also received by warm, welcoming and happy staff, who really seemed like they wanted to be there, and genuinely help us - which we always find important when assessing customer service!

Records you will need to keep

Bank Document 1:

• Bank Statements