With Transferra, you can rest assured that your business account is designed to offer flexibility
and convenience to make your life easier. Don't wait any longer to experience
the benefits — switch to Transferra today!
Reasons to Switch Business Account to Transferra
There are several reasons why you might consider switching your accounts for business, including:
Better rates and fees
If your account charges high fees or doesn't offer competitive interest rates, switching to another financial institution like Transferra could save you money.
Different financial institutions offer a range of services, and some may provide better features and benefits that are more suited to your business needs.
If you're unhappy with your provider's online platform or customer service, switching to Transferra may offer you a more convenient and user-friendly experience.
Transferra offers specialised services tailored to the unique needs of small businesses, like customisable account features, accounting support and access to business loans.
Transferring your business account to another financial institution such as Transferra can offer you several benefits, including fast international payments, better rates, enhanced services, greater convenience and specialised support.
Pros and Cons of Switching Your Business Account
Although many companies tend to stick with their existing provider, recent regulatory changes have made it easier to switch business account. So it's important to consider whether it's worth changing. There are several compelling benefits to transfer business accounts and the process is now much easier with Transferra:
With this service, your old account can be seamlessly transferred to your new account, including your balance and all incoming and outgoing operations. Transferra always ensures a smooth transition.
Whether you're a sole trader or a large multinational corporation, Transferra has the right service to suit your needs. The team of professionals recognise that the needs of a freelancer or small business owner are different to those of a larger company and strive to provide tailor-made solutions.
Switching your business account can also help you save funds on sending money abroad and other services. If you've been with your old provider for a while, you may have noticed that your charges have increased over time. You may also be paying for services you don't need. Transferra can help you find a more cost-effective option that meets your business needs.
Transferra also offers increased security for your funds. As a company authorised by the FCA under the Electronic Money Regulations 2011, Transferra never lends or invests your money. Transferra's software is developed in accordance with the ISO 9001:2015 Quality Management System and the ISO/IEC 27001:2013 Information Security Management System, ensuring that your funds and data are protected at all times.
What about the disadvantages?
Switching your account can be a time-consuming process, as you will need to transfer all your financial information and ensure that all automatic payments and deposits are set up correctly. Transferra offers to switch business account service that avoids any disruption to your work. A team of specialists will ensure that everything goes as smoothly and quickly as possible.
How Can I Switch Business Account to Transferra
Once you've applied to transfer your business account to Transferra, the specialists will take care of the following steps:
Close your old account
Transferra will arrange for your previous provider to close your old account and transfer any remaining balance to your new account.
Switch your payments
The Transferra team will transfer all incoming and outgoing funds to your new account very fast, ensuring a seamless transition.
Re-route future payments
Transferra will redirect all operations from your old account to the new one to ensure you don't miss any important transactions.
In the unlikely event of any delays caused by Transferra that result in interest or fees being charged to your old or new account, your fees will be refunded.
Transferra strives to make the process of transferring your account as stress-free as possible, so you can concentrate on running your business.
Can I Switch My Personal Account for Business?
It is possible to convert a personal account into a business account, but the specific process and requirements may vary depending on the type of business you run. It's Some providers don't offer this option at all and you may need to open a new business account instead.
Is It a Good Idea to Have 2 Business Accounts?
It can be a good idea to have 2 accounts, especially if you have multiple income streams or need to keep different types of funds separate. Having multiple accounts can provide additional security and flexibility. However, it's important to note that having multiple accounts can also mean additional fees.
How Many Business Accounts Should a Small Business Have?
The number of business accounts a small business should have in the UK depends on the nature of the business and its financial needs. As a minimum, you should have a dedicated business account to keep your finances separate from personal funds. This will help keep track of income and expenses.