Ditching Traditional Business Bank for Modern Online Banking

Cadder · 2 Jul 2021 at 11:55

Lloyds is doing our heads in. The card reader method for moving money, the outdated methods of changing information and so on. I have just filled in a change of business address form that doesn't have a box for the new address..

These traditional methods aren't working anymore, especially with branches closing. I like the idea of a more fresh modern bank that has thought it all from scratch and not just clagged things on to an old system. I want a smooth and easy experience with banking - which doesn't necessarily make it less secure. This applies in reverse too, the complicated traditional methods don't make it more secure.

So to my main question: Have any business owners here in the forums switched from a traditional bank (Lloyds, Natwest, Santander etc.) to a modern bank such as Starling?

Also please mention your experience in this.

Deleted User 234324 · 2 Jul 2021 at 13:05

While I am not a business user, I've been using both barclays and revolut for some time, revolut runs rings around barclays by a mile when it comes to the app and features it offers.

Tuppy_Glossop · 2 Jul 2021 at 13:15

We got annoyed with Lloyds' charges and lack of helpfulness so we changed to Starling Business (I had already been a personal user for ages). It is much cheaper (unless you pay cash in) and there are lots of helpful features for attaching pics of receipts/invoices/etc to transactions. It's a no-brainer in my opinion.

Cadder · 2 Jul 2021 at 13:24

Tuppy_Glossop said:
We got annoyed with Lloyds' charges and lack of helpfulness so we changed to Starling Business (I had already been a personal user for ages). It is much cheaper (unless you pay cash in) and there are lots of helpful features for attaching pics of receipts/invoices/etc to transactions. It's a no-brainer in my opinion.

This is what I was hoping to hear. Thank you for posting your experience. We never pay in cash so this seems ideal for us.

Appreciate yours also @MadMossy - it's showing how these new online banks are changing the scene.

Cadder · 2 Jul 2021 at 13:25

@Tuppy_Glossop I forgot to ask - how easy was the switch? I need to change our business name and address (we rebranded and moved). Reckon I can switch before changing that?

Tuppy_Glossop · 2 Jul 2021 at 13:42

Really easy, they handled everything. Just give them a call and discuss your exact circs, they'll take you through it all.

tres · 2 Jul 2021 at 13:54

Moved to Starling for my personal account about 3 years ago, Joint account about 2 years ago - flawless, love the service and app
Never have I ever missed brick & mortar acccount.

jpaul · 2 Jul 2021 at 20:06

Maybe the business experience is different, but, I don't have any problems with Lloyds, or, Santander, online services ,
if you have to orchestate some processes with royal mail and forms, that's an additional MFA.
Santander must send me an email once a month, "Mr, you haven't logged on recently, is there a problem?" ,
I don't need open banking either.

[
no one is perfect starling search instantly throws
https://www.which.co.uk/news/2020/1...ning-system-failed-android-users-for-31-days/
addressing those email invoice editing scams.

This system is designed to tell you when the name doesn’t match the account details entered but we discovered that these checks haven’t been in place for all customers.
The bank has confirmed that this was a short-lived issue, lasting for 31 days from 12 October 2020, that has since been fixed. It temporarily affected users with Android devices and some Apple users who had not updated their Starling app.

]