Barclays
NatWest      
HSBC   
Royal Bank of Scotland
Santander
Lloyds TSB


Royal Bank of Scotland

Financial support on offer

If you’ve been in business for less than a year you can qualify for two years’ fee-free internet banking. There is no transaction limit as long as your turnover is under £1m. There are various loan options including a small business loan, which those who opt for the Royalties Business Account (£25 a month for firms turning over up to £100,000)  receive a 1% discount on. Fixed rate business loans are available between £25,001 and £250,000. Business overdrafts are also offered on flexible terms with instant access and daily calculated interest.

Joining offers

RBS offers guidance through a series of 'Start-up Guides'. You will also gain access to a free online business start-up course, and you will be assigned with your own dedicated relationship manager who is there to support your business, says RBS. As with NatWest, RBS offers the Smarta Business Builder software with their start-up account.

The two years’ fee-free banking is offered to businesses that are less than a year old with a turnover of less than £1m. RBS has also teamed up with Regus and is offering free businessworld gold memberships to start-up account holders, giving entrepreneurs access to over 1,000 business lounges worldwide. Regus business lounges offer a professional working environment for entrepreneurs, and businessworld gold members can enjoy free internet access, refreshments and a 10% discount on meeting rooms.

Charges on cash and cheques

Following the two years’ fee-free banking business owners have the choice to move to the Business Plus tariff, which offers free automated transactions for businesses with a turnover of less than £250,000. With the standard tariff customers are charged 67p per cheque or direct debit and 66p per £100 of cash withdrawn at any branch.

Overdraft and loan interest rates

There are various options to choose from when selecting a loan with both fixed and flexible term loans available. Repayment holidays are available and there is also the option of staged drawdown, to save on interest costs. The overdraft facility is guaranteed for 12 months and the interest is calculated daily. You can discuss your needs and options with your relationship manager.

Website and online banking

The website is clean and easy to use with the option to apply online or to get in touch for more information offered on almost every page. The digital banking option allows businesses to access their accounts 24/7. With the RBS digital banking service you can pay bills, manage your accounts and take control of your finances. Information on the security of the site and testimonials from customers are available.

One-on-one help

RBS offer a start-up hotline and a business hotline which are open between 8am and 6pm Monday to Friday. Additionally, businesses banking with RBS have access to a dedicated relationship manager who will get to know their business. You can contact your business relationship manager by phone, mobile or email.

Switching times

RBS aim to set up your new account, transfer your money, transfer your funds to clear an old overdraft and close your old account within two weeks. A new account will be opened within two days. If you are leaving RBS the whole transfer should take no more than four days.

Number of branches: Around 650

Ratio of small business managers to branches: One relationship manager per branch

Website: www.rbs.co.uk