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Ask HN: Recommendations for a startup bank account (UK)
I have a new venture starting trading at the beginning of Q4, and I'm going through the financials right now. I need a bank account.
Background: b2b products and services, LLP, two partners, initially no staff or regular payroll requirements, mostly electronic deposits for money in (i.e. few or no paper cheques), electronic payments for money out, no loan or startup capital requirements, public liability insurance offering optional.
Pretty simple stuff to get going. Beyond the initial interview stage, I can't see a need to limit my shortlist to branches that have a local branch nearby, either. This makes the decision easier, and in some respects much harder.
I've had previous experience of Co-operative Bank (not great), NatWest (OK) and Lloyds (expensive), all of which are traditional banks with a history. I'm also interested in newer banks with a different/fresher approach to banking, if such a thing has been done.
I'd be interested in your experience of UK banks at this company stage/scale, and whether you'd recommend them.
Thanks in advance for feedback.