Business banking, finding the right bank

If you are starting up a new business, it may seem that as far as your business bank account is concerned is it easier to just go with the same bank you have your personal account with. There are definite pros attached to this, such as the manager being more amenable due to the fact that you are an existing customer and have a sound track record with the bank, but you may find that this familiarity is cancelled out by the fact your bank doesn’t offer great business accounts.

Many banks offer free business packages for new accounts for set periods, 6-12 months is the norm, as an incentive for you to take your business there. They may also offer support packages to new businesses such as dedicated advisers who will help you draw up a firm business plan, or free business software. You need to find the bank that offers the best account for the needs of your business, and your first port of call should be online.

View all the latest free business banking offers and apply online at this website which has an online comparison of all bank accounts available. By having all the information in front of you as to who is offering what, you can peruse the options, take in all the information in front of you, and thus make an informed choice as to which is the best for your business.

There is also the possibility that due to the size or type of your business you may need more that one bank account; one to make transactions from and too, and a separate merchant account through which to process payments that come from credit or debit cards. If you intend on trading overseas, then you may also need an account that deals with foreign currencies, and sorting out all this can seem a very daunting task.

All the information you could possibly need can be found here in one place, and save you a lot of time and headaches from not having to trawl the net for hours on end trying to piece together your perfect business banking package. You may be advised to hold different accounts with different banks, depending on who is offering the best deal in each sector, or there may be bonuses to be had by holding all your business accounts within one institution.

At the end of the day, while this site will point you in the right direction, it is then up to you to physically go to the bank and meet with a business advisor to get all your questions answered. These include such items as set monthly fees, overdraft facilities and much more, and remember that negotiation is always a possibility and you may be able to tweak certain areas if you like the way they operate one kind of account but you have seen a better deal elsewhere on another one.

Your business bank account/s will be the most important that you have ever held in terms of the amount of transactions that will be taking place and the monetary value involved, so you owe it to yourself and your business to make sure that you have the best you can possible get.