Hi all,
Can anyone recommend a bank for business banking? Would like to have thoughts/experiences from other business owners running companies in Finland. Especially if you have UK based businesses too.
Thanks
Hash
Business Banking
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Charles Monk
- Posts: 35
- Joined: Wed Jan 07, 2004 5:42 pm
Re: Business Banking
Nordea has been fine for us. The netbank service for business is a bit dated but in consequence is plain, simple and reliable. You can have it in English, and you can use the 'mail' function to send English-language questions to the bank (and they do respond within 24 hours with proper answers, not a cut-and-paste approximation).
The charges for business banking are higher than in the UK, I think, but it's basically what you'd expect: lots of piddling little fees adding up to a monthly charge which is large enough to irritate you but not enough to make you investigate, or challenge, or consider changing banks.
Especially confusing is that you need to pay 'Interest' on an overdraft facility, even if you don't use it. It's only 1%, but that's 100 EUR per year on a 10K facility. I don't know how expensive it gets if you actually draw on the facility.
Oh, and just wait until you see the standard format for the business account bank statements: look and laugh, or look and cry, but have fun trying to imagine how they devised such a confusing way of presenting simple financial information.
Despite all this, I would still say that for day-to-day current account stuff, Nordea has been a perfectly good bank for our firm (since 1999). OTOH, if you're asking which bank would be a good place to deposit large amounts of money, then I have no advice to offer.
The charges for business banking are higher than in the UK, I think, but it's basically what you'd expect: lots of piddling little fees adding up to a monthly charge which is large enough to irritate you but not enough to make you investigate, or challenge, or consider changing banks.
Especially confusing is that you need to pay 'Interest' on an overdraft facility, even if you don't use it. It's only 1%, but that's 100 EUR per year on a 10K facility. I don't know how expensive it gets if you actually draw on the facility.
Oh, and just wait until you see the standard format for the business account bank statements: look and laugh, or look and cry, but have fun trying to imagine how they devised such a confusing way of presenting simple financial information.
Despite all this, I would still say that for day-to-day current account stuff, Nordea has been a perfectly good bank for our firm (since 1999). OTOH, if you're asking which bank would be a good place to deposit large amounts of money, then I have no advice to offer.