The Royal Bank of Scotland Bank offer an extensive range of business banking accounts for start up companies and existing companies and some of these other almost an almost free bank account.
If you choose to do your banking over the internet or via the telephone then all automated transactions are free. There are other accounts and here's our review of them all.
The Royal Bank of Scotland standard bank account is run like most other banks where you have a set monthly fee and minimum charge with individual transactional charges being applied for common debits and credits. Switching your account for any of their products will be undertake by the bank to make it easier for you. With most of RBS business accounts they offer the services of a business account manager who is there to help you. But in reality most small businesses may not need this service (and if you don't you can get free business banking with RBS).
Here's a summary of what Royal Bank of Scotland offer their business account for all businesses:
Alternatively RBS operate what they call the business plus tariff that carries a small monthly fee with all automated charges being free. So if you want to bank online over the internet or via the telephone then this could be an account for your business. The only major draw back is that there is a high cost of depositing cash into your account so if you take a lot of cash in a shop or restuaurant for example then it's best to look for another account. Here are the details:
There are no particular incentives to join this account and the non-automated charges are high so check out our comparison tables to see the better deals on the market.
It's odd that RBS offer their Business Banking Direct tariff in addition to the business plus tariff because they are aimed at the same group of customers (ie: to bank online and over the telephone) but with the business banking direct service all regular transactions are completely free and there is no monthly fee. So if you want to bank with the Royal Bank of Scotland and undertake your account management online or via the telephone then this is a good account to have. In summary:
These additional benefits increase the added value of the account to £800 but the monthly servicing fee increases to £13 per month.
So lots to choose from with Royal Bank of Scotland Bank business banking services and all the core banking is completely free.
For small business owners the RBS royalties account allows you as many transactions per month for a monthly fee. However, with this account you also get access to many discounts on additional products so this is ideal if you want those services (if not, then opt for their free banking offer). The details of the Royalties account:
The Royal Bank of Scotland was founded in 1727 and is now partly capitalised by the UK government. They currently own many household brands including Natwest, Churchill insurance, Coutts and co., Direct Line and Ulster Bank. You can find RBS through over 2,200 high street branches and 118 business centres.
The following banks offer free banking for life