Bank Charges, how much is too much?

[Selectamatic]

I pay some charges every month, I assume this is mainly the charge for paying in money via cheque? To be honest, Im not sure what I pay them for...

How much is too much?!

 

[Pan mixer]

They must send you an invoice every month, mine is down to about £6 per month now since I went electronic.

 

[capfits]

Just plug into that there Google thing "name of the bank you use" business charges.
Soon tells you.

 

[Jerry]

Fiver a month.....

Happy enough with that given the service I get and the help offered over last few years since dad passed.

 

[HolzKopf]

Bank with FSB - totally free, we do. Or stick with existing bank and invoke new regime - i.e. all payments in and out online by BACS. Providing you're not cash based that should suit both suppliers and customers too.
Unless you need a bank - and don't forget that borrowing money from them is profitable (for them) - then use the bank, don't let them use you

HK

ps I agree that £5 or £6 per month is chicken feed for a year if you are actually getting a service from them. Try getting an hour with a lawyer for £60 or an hour's workshop labour in a main dealer

 

[neilo]

Just plug into that there Google thing "name of the bank you use" business charges.
Soon tells you.

Pretty sure banks are obliged to inform their customers of their service charges, and with every change they make. I know HSBC send me a little booklet detailing theirs anyway.
Usually just over a tenner a month here, even with an ‘electronic’ tariff and most transactions done online or by debit card. Charges for paying cheques in on that tariff are higher though, as are the charges for writing them.

 

[JeepJeep]

Bank with FSB - totally free, we do.

Is the FSB only free upto £2k Cheques per month then 75p per £100.?

I was looking at FSB Membership yesterday.. I'm not sure I'd get my moneys worth though.

 

[JeepJeep]

Is the FSB only free upto £2k Cheques per month then 75p per £100.?

I was looking at FSB Membership yesterday.. I'm not sure I'd get my moneys worth though.

Read it wrong Apologies. Cheques free and upto £2k cash then 75p per £100

 

[Courier]

Cheques ? - - Thought they went out with the Flintstones !

Just realised I do send one each year to a landlord who refuses to cash it - but it is the only way of recording that the rent has been proffered ??‍

 

[Johnnyboxer]

They must send you an invoice every month, mine is down to about £6 per month now since I went electronic.

So is mine
All electric now
£6/month

 

[Selectamatic]

Oh, fair enough, I pay around the same as you folks...

 

[Johnnyboxer]

Oh, fair enough, I pay around the same as you folks...

Is £6/month too much ?

 

[Boohoo]

Does the bank need to know that you're using the account for business? There aren't any charges on a personal account.

 

[Selectamatic]

Is £6/month too much ?

Yes, really, but what can you do?

Between £5 and £18 ish a month.

It all adds up. Over the course of a year I have to plough a couple of acres for the privilege of keeping my money in my account!

 

[Yonlass]

Does the bank need to know that you're using the account for business? There aren't any charges on a personal account.

When we first started up, we ran from a private account. If I went into the branch just as the milk cheque went in, the cashier used to ask if I wanted to talk to someone about investments......"don't worry, it's all spent" I used to reply ?
Then we moved to Santander business banking which was free, but sadly not anymore for new accounts.
Now that we've got mortgages, we had to bank with the lender. It's a stipulation that we have a business bank account with them. Everything got switched over, which is a bit of a gripe going from no charges to £16-£22/ month depending.

 

[Dman2]

I have a business account with Santander
Over 150 payments a month go in plus what comes out

No bank charges

 

[Yonlass]

I have a business account with Santander
Over 150 payments a month go in plus what comes out

No bank charges

You'll have been with them a fair while though?

 

[Hfd Cattle]

I'm with Santander but we pay £7.50 a month . Haven't written a cheque for years we pay all electronic . What does get my goat is that they try to stop you paying a business cheque in over the counter . Some cashiers will do it but others won't. If we get an awkward one who won't then we just pay it into our personal acc and transfer it over at home .
Second thing that got my goat was a phone call from a lass introducing herself as my 'Agriculrural business manager' and should we ever have a problem the just give her a ring ......she is in Liverpool ! After some discussion on the phone before she rang off it was admitted that if I did ring I would probably not get to speak to her but it could be one of 15 in the same office and after further questioning she had not the slightest bit of knowledge of the Ag world and had never been on or near a farm or market !!!

 

[Hesston4860s]

Does the bank need to know that you're using the account for business? There aren't any charges on a personal account.

They didn’t know I was for years until I wanted to borrow some money for something or another, then they said I’d have to have a business account. I told them If that’s the case forget the loan and cut me cheque for everything in there I’m going over the road to HSBC, I got the loan and still have a personal account that was 10 years ago.

 

[SteveHants]

You either like capitalism or you don't.

If you do, you surely must realise that you are beholden to the banking sector.