Which Bank?

[Whitepeak]

We need a new bank for the farm business. Up until recently dad has been trading as a sole trader with a personal account with santander. Now I've become a partner in the business so we need a business account, hence why we need a new bank/account.
We've narrowed it down to the ones with branches in our local towns. Natwest have 2 branches locally, Barclays one and Lloyd's we can use a local Halifax branch. Santander closed their local branch and its now over an hours drive to the nearest one so we've discounted them. We enquired at a couple yesterday but were told to look on the website I'm a bit clueless when it comes to these things (I'm much better looking after cows!). So what should I be looking for? Or any recommendations as to which bank is best for a farm business? Thanks in advance

 

[Hilly]

I’d stick with Santander my branch is 60 miles away and I have never been ever, they will all close soon anyway and Santander get a good name .

 

[Bill the Bass]

I wouldn’t worry about proximity to a branch, none of them will want to see you unless you are up to the eyes in debt with them. We are with Lloyd’s, they are shite - absolutely shite, as soon as interest rates dropped last year they doubled their monthly charges for us. I f**king hate them and will be leaving them as soon as I can.

 

[Nick Adams]

I got paid to move from NatWest to Starling. No borrowing, manager, branches or CHARGES. It’s fine, can always change back if you want. It’s just another supplier.

 

[toquark]

Don’t choose a bank based on the proximity to the nearest branch. Before long, branches outside the major cities will be a thing of the past.

 

[Bill the Bass]

I got paid to move from NatWest to Starling. No borrowing, manager, branches or CHARGES. It’s fine, can always change back if you want. It’s just another supplier.

Depends on the complexity of your business/es, if they have a call on loans, your new bank may need a new valuation. It can be a nightmare and costly in my experience

 

[Whitepeak]

Thanks for the replies. Tbh I'm not sure why dad wants a local branch, like others have said they could close it soon anyway. I think it's probably for paying in the occasional cheque. How do you pay them in without a branch? I know I can do small ones on by Halifax app, but only up to £500 so pretty pointless really tbh!

 

[S J H]

Thanks for the replies. Tbh I'm not sure why dad wants a local branch, like others have said they could close it soon anyway. I think it's probably for paying in the occasional cheque. How do you pay them in without a branch? I know I can do small ones on by Halifax app, but only up to £500 so pretty pointless really tbh!

All of the local NatWest’s here have closed only Bedford left now, and it’s not worth going to. Santander reopened one of them, so I kept an account with them, but now that’s gone.

 

[chaffcutter]

@Whitepeak as you are in Buxton I would speak to Lloyds, their regional agriculture specialist team are based in Uttoxeter and one of them would certainly cover your area. Much better to deal with the specialists rather than dealing with local branch managers.
Address is Carter st Uttoxeter, I haven’t got the number handy as I speak to our manager direct (another plus for Lloyds, don’t think all banks allow this).
You still pay in etc at the local branch btw.