Anybody ever hear of a bank not being able to open up a business bank account because you tell them your going to sell hardware? They say because it is too much fraud.This is hsbc by the way.
Other banks say they will open a account of you are selling software, but as soon as you sell any hardware you need to let them know? What happens if you do not tell them? If you business is related to computer things and you start of selling software packages and then decide to sell some computer cameras, thats is, your account is closed? Can anyone reccomend a good back to start a business account with?

have you tried natwest? i dont think they have a problem with selling hardware

I have never heard such a thing in my life....have you confirmed you are a legitimate business etc

If they do persist, then take your custom elsewhere. A quick Google throws up multitudes of business accounts out there. Must admit I hold my business accounts with the HSBC and they have never given me a problem, but they may have changed their policies.

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called rep at natwest. Not very helpful. This is hit and miss.Can anyone else provide a good business bank that will not complain about selling hardware

Yes it is true. I am stunned myself. Trust me. If you call them right now and ask do you have a problem if I open up a account and sell HW they wil say no. I tried several diff times to get diff reps. This is a sole trader not a ltd. But I did ask in opening up the most expensive account and still was told NO. Unbeleivable!

ANyways what do they do if you have been with them with a business selling SW then they find out you also sell HW? Just shut the account down? This is all Ridiculous indeed

It looks like I can use my own personal account for a sole trader but I would rather open up a business bank account. Looks like most are charging for EACH transaction? IS this worth it, maybe I should just use my own personal account? Want to play with the bigboys though, will jsut having a personal account be against me when approaching large wholesalers?

Did you take your business plan with you?

Several banks offer free business banking for a certain period of time. (12/18months)

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You are advised to actually talk to the business account manager and see what comes of it..

A business account is a necessity, keep your personal account(s) separate for ease of accountability and no 'grey' areas when it is accounting time.

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OK thanks must have. Could anyone shed any light on a rough estimate on how much I would expect to get charged for EACH transaction on a business bank account? Do some banks not charge on each transaction?
Thanks