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Alliance & Leicester reveals concern about business banking charges

01 September 2005
The majority of accountants are concerned about the charges their business clients are being expected to pay for their banking arrangements, Alliance & Leicester Commercial Bank has revealed.

According to Alliance & Leicester Commercial Bank, almost eight out of ten (79 per cent of) accountants believe that their clients should review their banking and the charges levied.

Nine out of ten of the 950 accountants agreed that the Alliance & Leicester Commerical Bank's Free Business current account offered real value for money, according to the bank.

Three-quarters of the accountants went so far as to assert that it was a better deal than its competitors, Alliance & Leciester Commercial Bank found.

Accountant Russell Silverman, of Haines Watts Chartered Accountants in Liverpool, said: "As a practising accountant I agree with the findings of the Alliance & Leicester Commercial Bank research, reporting the views of my fellow accountants.

"It is vital that businesses regularly review their banking arrangements and the charges they pay, as they may be paying far more than they have to and could get a better deal elsewhere."

Recent research by the bank revealed that small and medium-sized businesses in the UK are losing out on a collective £136 million a year by failing to seek the best deal on their business current account.

To read more about business banking, click here.

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