smallbusiness.co.uk: Helping your business think big

Just for the ability to look up and download transactions an online business account is well worth it. I had several happy years with the Bank of Scotland before they decided to impose fees. I'm now with Alliance & Leicester which is free, but the web account management system is much clumsier. With a 'Nectar for Business' card you might also get access to some free online bookkeeping services--again a bit clunky, but free.

That's very helpful indeed Mick, thank you. If anyone else would like to comment on their experience of obtaining a business bank account, the costs involved and the service that they received, please feel free.

You might want to consider Abbey Nationals business banking that is free as well. Beware the online side the login and security is a little basic and can be confusing if your not careful.

I would like a bank account with my business name on it but I don't want (necessarily) any service that I don't already have as a personal customer - I would like to avoid any interference from a bank trying to sell me anything, or ask for details that have no relevance - I would like to open an account for my small part-time business as an accountant or have it linked to my personal accounts. Can any one recommend a bank which provides a simple account for a business name?

To me, the importance of having a separate bank account for my business, to my personal one, is the fact that HMRC have the power to ask to look at your bank account transactions, and if, you use the same account for personal and business, then they can scrutinise your personal spending as well. When I became self employed, as a part time accountant, I opted for the route of a 'one' account. The one I chose comes with two current accounts, separate, with different names, yet the mortgage can see both, and they come with again, 8 different 'savings' jars, so I am able to take my business money, and save up for tax in one jar, various other things in other jars, and my mortgage interest reflects all the savings as being in one 'big' account.

More to add!! There are various banks that offer free banking, Abbey, A&L, HSBC (tend to offer it for around 18mths at a time), and FSB (Fed. of Small Businesses). The FSB deal is a great one, because you get the free banking, forever, a diamond account (for if you have slightly larger values of money for which you can earn greater amounts of interest), 24hr legal and financial help/advice - all for the mere sum.