Does anyone use 1st Formations?

Does anyone use 1st Formations?

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does anyone use 1st Formations to set up new incorporations.

I have been using companies house but the problem I am having its taking 4 or 5 weeks to get a bank account opened locally which is not ideal for contractors.

they are quoting £9.99 (I am assuming you have pay £13 co house on top of this) but also claim to open a bank account within 7 days with Lloyds bank.

seems to good to be true just wondered if anyone else used them.

Cheers

Replies (12)

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By bernard michael
28th Jul 2016 15:08

WTF is alloys bank ?

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Replying to bernard michael:
RLI
By lionofludesch
28th Jul 2016 16:27

Bank that deals exclusively with companies in the metals industry.

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By tom123
28th Jul 2016 15:22

Lloyds + autocorrect, I assume, Bernard,

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Glenn Martin
By Glenn Martin
28th Jul 2016 15:37

Yes Lloyds sorry IPad thinks it's smarter than it actually is.

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Jennifer Adams
By Jennifer Adams
28th Jul 2016 18:33

Sorry... am I missing something here... I have incorporated a number of contractors over the past year and those clients never have any difficulty opening bank accounts. Its done within 2 - 3 days depending upon the day they walk into the branch. Whatever their work is - builders, IT, etc etc. I suggest they use another bank

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Glenn Martin
By Glenn Martin
28th Jul 2016 19:09

At JAAdams which bank do,you use.

I operate in Co Durham and most of the banks don't actually have a business manager in post as they are split over 3 branches and all account opening is by appointment only. You can wait 4 weeks for an appointment with Barclays

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Glenn Martin
By Glenn Martin
28th Jul 2016 19:32

The days of walking into a bank and speaking with the business manager have long gone.

All new account openings are by appointment only Barclays can take up to 4 weeks. Santander can take 2 weeks for a meetings then 7/10 days to get paperwork with account details.

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By carlh
29th Jul 2016 11:52

i use companywizard.co.uk

they use barclays and after the AML it has been taking 48 hours to go live

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Glenn Martin
By Glenn Martin
29th Jul 2016 12:07

Thanks Carl I will have a look at them.

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Jennifer Adams
By Jennifer Adams
29th Jul 2016 18:13

I walked into Nat West Dorchester a couple of months ago to open an account on a Tuesday - it was done by Thursday.

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By ArsalanShah
30th Jul 2016 17:51

Hi

We use rapidformations,who offer £75 cashback within 30 days of account opening with Lloyds TSB.Within 48 hours of company incorporation,client receives telephone call from their local business manager.

However,it will be worth mentioning that most high street banks have shifted their in house account opening teams into regional teams.This would mean that accounts would no longer be opened within branches but online or over the telephone in the upcoming months.

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By Cheshire
31st Jul 2016 10:44

Open Natwest business accounts online (fully operational, not the often reduced offerings type)opened within a couple of days AND get 2 years fee banking. Wouldn't touch Lloyd's and
I've just picked up Barclays for giving my client a bank print that has rounding errors on it compared to their Bank statement.

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