HSBC “safeguarding”

[Steevo]

Seems to suggest Handelsbanken don’t charge a monthly fee either.....one big gripe I have with business banking of most of the main banks.

Handelsbanken business account review - Finder UK

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Sort the Xero feed and they’ll be worth looking into.

 

[DrWazzock]

We lost all our local branches a couple of years and until Covid had a mobile twice a week which all worked fairly well.
We were told that it was also fine to use the prepaid envelopes through the Post Office and that was effectively a next day service.

Well it isn't next day and it also isn't reliable! I have had a few occasions where cheques have taken up to four days to clear. Worst of all our main market refuses to pay by BACS so we have cheques almost weekly. About a month ago one payment never went through. I phoned the bank and gave them all the details from the Post Office receipt you get when you hand it over.
I received a very offhand letter from the Bank saying hard luck and you will have to tell the suppliers to cancel the cheques and get them to issue new ones, this was from the Post Office Banking Team. Luckily this time it was just the one cheque from the market.

Now I thought the system was like a recorded/registered mail system which is why you get a receipt when you hand it over.

Well it is nothing of the sort and is no better than normal mail and may actually be worse. When I took the receipt to the Post Office and asked them about it I just got a shrug of the shoulders and had no idea as to why happened.
I complained to the Bank as it took me a long time to sort it out and received a £100.00, but I could have done without all the grief. The bank suggested I send cheques to my "local" branch as that may be more reliable!!!!!!

Same problem here. Post Office “lost” a cheque from HMRC and nobody wants to know. Post Office isn’t secure or reliable. The receipt they give you is worthless. Won’t use them again. It will be BACS or cash.

 

[DrWazzock]

We weren’t big enough spenders or borrowers for handles bank. Not much public service in the banking job nowadays. Just out to make as big a profit as they can.

 

[Farmer Roy]

See, I just don’t understand why people still use cheques ?



out of interest, what does BACS stand for ? It isn’t something in familiar with

 

[Tarw Coch]

See, I just don’t understand why people still use cheques ?



out of interest, what does BACS stand for ? It isn’t something in familiar with

Convenience

 

[neilo]

Same problem here. Post Office “lost” a cheque from HMRC and nobody wants to know. Post Office isn’t secure or reliable. The receipt they give you is worthless. Won’t use them again. It will be BACS or cash.

Could you try asking HMRC to pay you in cash?

 

[JJT]

See, I just don’t understand why people still use cheques ?



out of interest, what does BACS stand for ? It isn’t something in familiar with

Bankers' Automated Clearing System

 

[holwellcourtfarm]

See, I just don’t understand why people still use cheques ?



out of interest, what does BACS stand for ? It isn’t something in familiar with

We can use "Faster payment" or BACS for online payments here from a business account. BACS payments take 3 working days but cost a few pence whereas Faster Payments cost £5 each but happen that day.

 

[Farmer Roy]

We can use "Faster payment" or BACS for online payments here from a business account. BACS payments take 3 working days but cost a few pence whereas Faster Payments cost £5 each but happen that day.

err, BPay is for business payments & I think is same day. Most electronic / online payments are next working day at the latest. If you are paying into the same institution you bank with, it’s same day. I can use my phone to transfer money from my personal account to my wife’s ( same bank ) & it’s as quick as using an eftpos in a shop.
NONE of this carries transaction costs . . .

 

[Farmer Roy]

Convenience

hahaha - cheques are anything but convenient, especially if you have nowhere local to deposit them, as some of the above posts indicate

 

[chickens and wheat]

Post office lost a cheque of mine, i had to get british gas to send a new one,which suprisingly they did no problem .

Lady at the post office said i wasnt the only person that week to complain , so i reckon a batch of cheques disappeared at once.

Was less than £100 so was more annoying than stressfull.

 

[Farmer Roy]

We can use "Faster payment" or BACS for online payments here from a business account. BACS payments take 3 working days but cost a few pence whereas Faster Payments cost £5 each but happen that day.

thats what I can’t understand.
Even your online / electronic banking already seems outdated & cumbersome, like most things about the UK

if you can use a tap n go card in a shop to instantly access up to $200, if you can insert / swipe your card plus use a PIN, you can pay for $thousands of dollars of items or withdraw large amounts of cash.

So - WHY would it take three days to clear an online transaction when you can do it in a shop with an eftpos machine instantly ?

As I said, same day transactions here.

 

[chickens and wheat]

Hsbc have a digital tarrif, basic online transactions become free. Instant transactions.
Cheques in and out have a higher fee but as i handle around 10 cheques per year that hardly matters

 

[Farmer Roy]

Post office lost a cheque of mine, i had to get british gas to send a new one,which suprisingly they did no problem .

Lady at the post office said i wasnt the only person that week to complain , so i reckon a batch of cheques disappeared at once.

Was less than £100 so was more annoying than stressfull.

BG send cheques ?
Wow - no businesses here, especially large ones / utilities or government departments would EVER use a cheque here, for at LEAST 20 years or more. Always direct deposit into your account.

30 years ago, I was working on a farm here who was paying us by direct deposit, he was one of the early Westpac customers to adopt online banking. Even then, it took 1 day if same bank or 2 days if another bank. Still a lot quicker than trying to get into town to deposit a cheque then wait 5 or 7 days for it to clear. That was 30 years ago . . .

 

[Steevo]

Hsbc have a digital tarrif, basic online transactions become free. Instant transactions.
Cheques in and out have a higher fee but as i handle around 10 cheques per year that hardly matters

Most digital transactions are indeed free but they still charge a monthly fee to maintain the account.

https://www.business.hsbc.uk/-/media/library/business-uk/pdfs/business-banking-pricelist.pdf

 

[Farmer Roy]

And a cheque is only a “promise to pay”, it doesn’t actually mean there are any funds there, which is why it then has to be “cleared”


Electronic payments, if the funds aren’t there, you can’t do it. Simple . . .

 

[chickens and wheat]

I asked BG to pay direct but for some reason they have to send cheques for solar tarriff, strange but true

 

[Tarw Coch]

hahaha - cheques are anything but convenient, especially if you have nowhere local to deposit them, as some of the above posts indicate

Post box at end of drive, simples.

 

[farmerste]

I asked BG to pay direct but for some reason they have to send cheques for solar tarriff, strange but true

having the same problem, they also keep getting our account name wrong so causes problems when trying to pay it in

 

[chickens and wheat]

I have only 10kw on fits so most cheques are less than £500 and can be imaged with the app.
Last year mid lockdown one came in at £501 had to risk human contact in the post office.

Got my only cheque paying customer to post his cheque to my personal bank,then transfered it to business account.