Seek alternatives – While you should make every effort to avoid incurring fees on your account, there may come a time when you are unable to do so. This may be because you have exceeded the terms of your account or because you have not deposited enough money to keep the account topped up. If this happens, you should consider seeking an alternative account. There are a number of providers that offer ‘friendly’ overdrafts. These providers will only charge you a small amount for going into overdraft, or may not charge you at all.
Conclusion
Choosing the right current account for your business is an important decision that will have a significant impact on your cash flow. There are a number of factors to consider when selecting an account and you need to make sure that you select an account that best suits your needs. You can manage the cost of your account by avoiding incurring fees, seeking alternatives if you go into overdraft, and making regular deposits into your account.
