How To Get Free Banking for Your Business

Free business banking is available for all businesses in the UK rather like free banking for personal accounts where absolutely every transaction made on an account is fee free - and really free and not just "some" of the transactions.

Luckily for business customers some UK banks now offer free banking forever. Previously all banks offered free banking but only for new customers and only for a certain period of time ranging from 12 to 18 months.

Then once your free period has expired they would "sting" you for all charges whether you are paying in monies from sales or paying in cheques received from customers or simply executing monthly standing orders and direct debits, and these fees can add up to a considerable sum which is a cost worth mitigating from your business accounts and improving profits along the way.

During any time there is always a need to save costs and increase profits and especially during the credit crunch and current recession all businesses need to save on expenses and not paying your bank for holding onto your cash and executing simple transactions is something well worth doing.

There are 2 banks in the UK that do just that and won't charge your business any fees whatsoever for any transaction so long as you stay in the black. And looking at these accounts the charges for overdrafts and loans are very competitive as well.

They are open for all businesses whether you are starting a new one or have an existing business where you need to save on costs. They will also help you transfer from your existing bank (so transferring over direct debits and standing orders) thus saving all the time and effort in doing so.

The banks in question are Abbey National (now Abbey and owned by Santander Bank in Spain) and Alliance and Leicester (part of the same group).

We are sure most of the other banks will follow in the footsteps of these two in due course and as businesses seem to get a raw deal from banks and appear to generate most of the profits for banks.

Indeed rather like reclaiming bank charges for consumers business customers can also go down this route and claim back charges made for the past 6 years. But there's no need to do that if you have free banking so spend a few moments of your time and change banks today to cut out costs and improve your own profits in one single call.Peter writes for SmallBusinessPro and shows you how your business can get free business banking for life and has a comprehensive guide to compare business bank accounts to ensure you get the best deal for your business from your bank. Visit How To Get Free Banking for Your Business.