What bank account to use for a limited company?

[aaronswann_09]

I have recently set up a limited company  and the next step is selecting what business account to use for said company.

I am drawn to starling bank and have heard many good things. My only issue is not using a traditional high street bank.

Any recommendations or bad experiences that can help me make a sound decision?

Any help would be appreciated, thanks.

 

 

[Stuart Phillips]

I use Starling for both my businesses and its excellent. They appear to be in a good place, the app is rock solid and i get far better tools than i ever got from Lloyds Business.

 

[david slater]

8 hours ago, Stuart Phillips said:

I use Starling for both my businesses and its excellent.

I echo Stuart's point. Starling are very good.

[aaronswann_09]

Thanks  for taking the time. Appreciate it.

[DezzaT]

Starling was a breeze to set up (one day turnaround) and the app is easy to use. 

I also have a Metro business bank account which is alright if you have one near you and need branch access. No fees if balance is > £5k, decent app and security, and wasn't too much of a hassle to set up (took about a week).

[Siruskey]

Starling also. Very pleased with them 

[hbinning_hotmail_co_uk]

I used Monzo but can't recommend them. 

Been with them over a year but have recently been a pain and threatening to close my account.

I think the risk with the challenger banks like Monzo and Starling is they'll open an account too easily and some point down the road will want to to the full checks and potentially close or suspend your account.

The traditional banks do all their checks up front so take longer to open an account.

If I had my time again If go with a traditional bank. Might have been more hassle at the start but better over the long term.

[Stuart Phillips]

3 hours ago, caveman said:

I think the risk with the challenger banks like Monzo and Starling is they'll open an account too easily and some point down the road will want to to the full checks and potentially close or suspend your account.

I think its more about how they monetise. Monzo are really struggling on this front, and its a tech firm first, a bank second. Starling's founder and CEO has a long extensive career in the banking industry and by focussing on business banking, probably have a better plan for being profitable long term, i think Monzo assumed they would figure it out as they go along...

[jordy]

I'm with Starling and will share my thoughts in the coming months, as I've recently setup my company. The process to setup did ask for elements of verification and checks but not as extensive as has been suggested.

[arbee]

I'm hearing good things about Mettle. No fee's at all and gives free access to Freeagent.