What to look for in a business bank account?

When setting up a limited company there are many things to consider, not least an accountant, as our previous guide explained.  However, an essential element is a limited company bank account as this forms an integral part of running your company.

Is it freelancer friendly?

Typically, a freelancer is a specialised business, needing a different type of service from a bank account.  It’s likely that your personal bank account provider may not offer the level of service you need for your business bank account, so it’s wise to look around.

How quick can it be set up?

Speed and efficiency is important in this sector.  Setting up a bank account quickly could be key to securing that contract or getting paid on time.

How can you access your account?

In this world of increased mobile use, it’s important to know you can access your bank account easily on the move.  Make sure the bank has the right tools for you.

How can Tide help?

We’ve partnered with Tide to bring their unique way of business banking to our clients.  Tide is a new style of business banking and is aiming to challenge the high street banking providers to provide a quick, streamlined service and importantly, removing the hassle out of banking.  Tide explained:

“Tide and Clever Accounts are on a shared mission to save freelancers, contractors and small businesses time and money. Together, we put the tools and support they need at their fingertips, to help their businesses thrive.”

The benefits speak for themselves:

  • 5 minute account set-up process via the mobile app
  • No monthly fees and faster payment transactions
  • Access all the banking functions via the app or browser
  • Quick and efficient customer support in-app

If you would like to get all the benefits offered from this new style of banking, please get in touch with us and we’d be happy to help!

Posted by Chris Mollan