[HampshireWindowCleaning]

I'm looking at joining the fsb and I wondered if anyone that is a member and has the co-op bank account could let me know exactly what you get for free, ie paying cheques, bank transfers, cash deposits etc, are they all really free and no monthly fee either? Cheers

[Walter Mitty]

I'm looking at joining the fsb and I wondered if anyone that is a member and has the co-op bank account could let me know exactly what you get for free, ie paying cheques, bank transfers, cash deposits etc, are they all really free and no monthly fee either? Cheers

I only use mine for BACS clearance (all free) so can't pass comment on the rest.  I did get a letter recently saying that a few things will be changing soon so it might be an idea to ask them.  The only change that has a small effect on me is stopping paying interest on credits - so I'll be about 5p a year down .
I use a different business account for cash and cheques becausae the other bank lets me deposit out of hours via ATM.  Check that you have a Co-op branch near you.  The lack of physical buildings is a big weakness in their business model.

[HampshireWindowCleaning]

I was probably going to do the opposite of what you are doing as I already get free bacs with my current business account so was planning on using the co op one for any cheques and cash I need to pay in, but only if it was free otherwise it would be easier to stay with current bank for everything.
I have a co-op fairly near me but it says on the website that by arrangement you can bank at your local post office so that would be ideal.

[Walter Mitty]

I was probably going to do the opposite of what you are doing as I already get free bacs with my current business account so was planning on using the co op one for any cheques and cash I need to pay in, but only if it was free otherwise it would be easier to stay with current bank for everything.
I have a co-op fairly near me but it says on the website that by arrangement you can bank at your local post office so that would be ideal.

Yes, of course.  I had forgotten about the post office banking as I never use it.  I was going to use a post office years ago but it shut down before I had a chance.  Then, loads started shutting down so I never bothered.

[martinw]

new fsb /co op rules kicking in Aug/Oct depending on sign up dates  off top of my head:

2000 cash credits per month limit down from 4k
no interest paid anymore
no monthly fee (otherwise £5 per month)
no transaction charges (18p per direct debit/bacs/card transactions)
100 cheques limit
free post office banking (80p per credit)
free change facility in branch only


thats off top of my head.

[HampshireWindowCleaning]

So are you saying that bacs etc were free but are now going to be 18p per transaction?

[martinw]

incoming bacs are free. however any transfers/payments you make are treated as transactions same as direct debits and are subject to fee on non fsb account.

[HampshireWindowCleaning]

And you can pay in upto 100 cheques a month for free?

Could you please explain this as I was thinking it would be handy to pay the cheques in at my local post office
free post office banking (80p per credit)

[martinw]

fsb po  banking is free up to 100 chqs, 80p is for non fsb deal.

[HampshireWindowCleaning]

Thanks for the info mate