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Group Businesses waiting for a Business Account
Started by JoelDalais on 26/01/2017 Motto: I think, therefore I am (a business)


Regulation is here to protect us.

From jzjzd on 24.04.2017 at 05:01

Think about a theater where you are obliged by law to have fire extinguishers and all the other stuff that protects or helps you in case of a fire(exits, sprinklers, ... ).

You may never need to use them but the regulation says you have to have them.

Let's imagine there is no regulation regarding fires.
In this case each theater would have to take care of this and manage it as they please, because of the probability of a fire occurring it's very low it would not be efficient for them provide, and because there is no regulation in use they don't have to.

But if a fire is to occurs you can see how in that isolated case and you would be in the building you can see how you would wish for regulation then.

Regulation is here to protect the most of use.

I also want a business bank account, but some how that's not in the best interest of the majority.

Business accounts

From Goodboy on 16.02.2017 at 14:12

Fidor Bank should make Business accounts available only if regulators can guarantee they will not impose unreasonable fines on the Bank.
Most small businesses in the UK today are unable to reach their full potentials due to the unreasonable regulatory burden that government and regulators have imposed on Banks. Any little mistake made by a Bank could lead to the Bank paying fines that run into millions of pounds.
I think we have come to a point where we have to ask questions about why Banks are made to pay these fines and not the people committing the offence.
Why can’t the liability be on the person or the business breaking the rules or committing the money laundering offence?
The FCA relies on fines paid by banks in order to exist, don’t you think it is in the interest of the FCA to maintain the current system at the expense of innocent small businesses and individuals that will never be able to prosper due to the ongoing senseless denial and withdrawal of banking facilities from them?
We need new Banks that will give small businesses access to banking facilities and allow them to reach their full potentials.
Is Fido bank able to do this?

JohnnyD wrote on 16.02.2017 at 17:28

I'm not quite sure what you are trying to say here, its the regulators that make the rules and the banks have to comply with these rules, so its not up to Fidor Bank?

Goodboy wrote on 18.02.2017 at 12:07

I’m blaming the regulators and not Fido Bank. Most small businesses will never be able to expand unless regulators change some of their senseless rules and behaviour.

Where I can use - cent you button ? is the same as 'tip me' button?

From surangood on 16.02.2017 at 09:24

Where I can use - cent you button ? is the same as 'tip me' button?

Toluth wrote on 12.03.2017 at 19:13

Hi, the cent you is the same things as TipMe. In Fidor Germany, it is named centyou and in Fidor UK, TipMe. Maybe it should be called pennyme?

Would a Fidor Business account be something you are after?

From JoelDalais on 26.01.2017 at 21:04

Run a business? Or interested in starting one? Would a Fidor Business Account interest you? This group is to determine interest and for you to tell us (and each other) what facilities you would like in a business account.

PLEASE NOTE - This group is no way implies that business accounts are coming soon (I have no ETA), this group is just to gauge interest, desires, potential facilities and discuss the subject.

Show all 13 comments

veganline wrote on 18.06.2017 at 13:25

My choices:
♦ Free banking: debit card, money transfer. Maybe cheques for a small charge.
That's the most important thing.

http://veg-buildlog.blogspot.co.uk/2015/07/setting-up-shop-with-uk-business-bank.html is a long blog post on the subject.

♦ Easy-to-download statements and...
♦ Co-operation with any software companies from Waveapps to Acemoney who might want to add functions. (Waveapps is a freemium online accounting programme; Acemoney is a freemium desktop one. You can spot the pattern in the kinds of products I choose! There is a gap in the market for payroll software too).
♦ Free access to Euro somehow - maybe to pay people in Euro by bank transfer
♦ Same system as https://www.check-business.co.uk , the one that gives two letter references from Equifax for free on it's casual no logon service. (Logon and they take if off the screen and suggest you pay, but it's free for casual visitors).

There's also a role for Fidor to use bank statement data to suggest P2P lending sites that might be able to offer loans, as Check-business.co.uk does. This is a better system, I think, than trying to provide bank managers and use the banks' own money to make loans. You can find a list of middle-men if you want by subscribing to Thincats and looking for lists of "sponsors" as they are called on that site. I think Rebuildingsociety

♦ Maybe take-over the Co-Op's business banking services that they run alongside the Federation of Small Business? Apparently the Co-Op and Smile are for sale, but I don't know how much cash they want.

MIROW wrote on 18.06.2017 at 13:51

The Co-op is a mess, latest offer £1 in exchange for the bank and some loyalty points in their grocers :-)

gbarns wrote on 19.07.2017 at 14:16

Would open a business account if available. Would need incoming/outgoing SEPA + debit card.

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