How to choose and manage a business bank account

Introduction

A good relationship with your bank is essential to the success of your business. You need to spend time choosing the right bank and the right account and manage it effectively.

The services offered by banks differ greatly and so do the fees they charge. Some banks have special business account teams and can offer special deals to new businesses, or useful start-up information.

Banks offer a range of competitive business account packages allowing you to negotiate or switch for a better deal.

All retail deposit-takers in the UK - including those authorised in another European Economic Area state - must comply with the Financial Services Authority's (FSA) Banking Conduct Regime. The regime comprises the Principles for Businesses, Payment Services Regulations and a Banking Conduct of Business Sourcebook (BCOBS). BCOBS sets conduct of business requirements relating to consumers' everyday interaction with banks and building societies.

This guide explains how to choose and manage your business bank account.

Subjects covered in this guide


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Developed with:
British Bankers' Association