Bank account for semi dormant company

Bank account for semi dormant company

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I am the director of a flat management company. All outgoings of the property are dealt with by the managing agents as agents for the leaseholders and the company has thus had no income or expenditure. It now appears that the company is owed money (around £1,000) by the solicitors who acted for us in the purchase of the freehold and we will need to open a bank account. Future movements in the account are likely to be a few a year and I am trying to find an account that does has no monthly/annual charge. So-called 'free banking' accounts such as A&L turn out to charge £5 a month unless there is income of £1,000 every month, which would soon eat up the smallcapital. Does anyone know of a suitable account?

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By User deleted
01st Jul 2009 08:23

Abbey business account
People have cited the Abbey business account often as a free one. A quick look a moment ago did not spot a £5 per month charge, but you would need to read the full t&c which are there.

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By lja20
01st Jul 2009 13:39

free banking
Check with the bank - One of my clients is a residents management company, they are eligible for the free banking that normally applies to charities/small societies etc because it is not a profit making enterprise. They are with HSBC - and I would expect most other banks would offer the same? (although their account has been open for a few years and policies may have changed). Worth a phone call though.

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