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Currently have some cash in my business bank account earning nowt interest wise, what options do I have to move into another business/savings account to earn some interest
Secondly what the best accounts you guys use for business savings? =============
If you are an FSB member, then the Close brothers one pays about 5ish percent - they recommend having one to put VAT payments into and anything else that is paid in arrears. If you have a fair amount of money and not too many staff (membership is by size of business) then the cost of becoming a member may be outweighed by the benefits of the account. =============
We use Standard Life for our business savings:
http://www.standardlife.co.uk/content/savings/business/business_index.html
We've been using them for many years, so not 100% sure how they "match up" to others in this current climate.... No complaints though.
Gary =============
Kind of related subject; but, in view of the current banking panic, do businesses (specifically ltd companies) get the same ?5000 protection against banks going bust as individual punters do? =============
Do you not have a reserve account with your current? =============
Banks don't trust each other with their own cash so why should you?
Ring around the main banks or websites to see what is on offer and the outrageous terms and conditions many high interest rate accounts have BUT - don't put more than ?5K with any.
Governments are bailing out banks every day.
Governments who are already billions over their budget
Money is no longer safe in a bank. =============
Do you not have a reserve account with your current?
Just has a nose around my online settings and cant see anything, just as well I did because this month my free banking has come to an end so its off to another bank anyhow
Banks don't trust each other with their own cash so why should you?
Ring around the main banks or websites to see what is on offer and the outrageous terms and conditions many high interest rate accounts have BUT - don't put more than ?5K with any.
Governments are bailing out banks every day.
Governments who are already billions over their budget
Money is no longer safe in a bank.
OK, but does the ?5K limit cover business accounts? or is it just personal banking
Banks don't trust each other with their own cash so why should you?
Money is no longer safe in a bank.
Well its prob safer than under the matress :D =============
I think the ?5k limit does apply to business accounts but have no specific evidence.
Mattress - good idea.
Who needs 5 or 6 per cent when they could lose 100% =============
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