Clydesdale Bank now operates its business banking services under the Virgin Money name where they offer a wide range of business finance products which includes business bank account and savings accounts. Below we look at reviews for the company along with the accounts they offer, how much they cost and other key things you need to know to help you decide which business bank account provider is right for your business.
Clydesdale Bank Reviews
Below we look at reviews for Clydesdale Bank from a variety of websites. Please keep in mind that these reviews are for all of Clydesdale Bank’s services and so may not fully reflect their business offerings.
Clydesdale Bank Business Services Plans, Packages & Prices
Clydesdale Bank with Virgin Money offers three business current accounts.
Their Business Current Account and Business Choice Account offers:
- 25 months free day-to-day banking for eligible customers (Business Current Account only)
- Offers a range of smart digital tools including mobile app and internet banking
- Expert business support from a Relationship Manager
- UK wide stores to support businesses
- Connect to Xero, Quickbooks and other software
- Digitally deposit cheques
- Pay with Apple Pay and Google Pay
Professional Firms Account is designed for those that hold money on behalf of their clients, this account offers:
- Instant access to funds
- No monthly fee or transactional charges for designated client accounts
- Smart digital tools
- UK wide stores to support businesses
Business banking tariffs (after the initial free period if applicable):
- £6.50 monthly account fee
- Auto credit and debits £0.30 per item
- Manual credit and debits £0.70 per item
- Cash in and out £0.65 per £100
- Cheque remitted £0.30
The free banking period includes no monthly account fee and no charges for cash or cheques deposits, withdrawals, Direct Debits and automated payments. Business start-ups can be supported by Virgin StartUp who offer support, mentoring and training.
They also offer customers exclusive offers and discounts from across the Virgin businesses, and they offer their stores as flexible co-working spaces, WiFi access and meeting rooms.
Note plans, packages and prices were all accurate at the time of publication (April 2021) but may have changed since then. Please check Clydesdale Bank’s website for the latest information.
Clydesdale Bank Background
Clydesdale Bank was first established in 1838 in Glasgow where it has grown and continues to support Scottish businesses and communities. It was acquired and merged with Yorkshire Bank in 2005. Yorkshire Bank continued to operate under their name in England whilst Clydesdale Bank operated under their name in Scotland.
Clydesdale Bank and Yorkshire Bank’s holding company CYBG then merged with Virgin Money in 2018 with the aim to create a single identity for all of their banks. From March 2021, they stopped opening up new accounts under Clydesdale Bank and Yorkshire Bank names, and were diverting new customers to the Virgin Money brand where they are offering a single business banking range.
Both banks have a network of branches in Scotland and England which will be re-branded as Virgin Money and these stores will be used as community hubs to businesses to give them access to support, flexible co-working spaces and meeting rooms with WiFi access.
Switching To Clydesdale Bank
If you want to set up an account with Clydesdale Bank and Virgin Money you can apply online by completing their online application. Once your application is accepted they can complete the switch in just seven working days, and they will complete the switch for you on the date you choose. The switching will take place under the Current Account Switch Guarantee.
They will transfer your balance and any automated payments as well as close your old account. They ensure any payments to your old account will be redirected.
Additional Business Services From Clydesdale Bank
Clydesdale Bank offers a wide variety of other business products which includes:
- Savings accounts
- Business credit cards
- Business loans
- Overdraft facilities
- Asset finance
- Invoice finance
- Commercial mortgages
Clydesdale Bank Business Service Availability
To be eligible for the free day-to-day business banking period your business needs to new to them and have a turnover under £2 million and be either switching your business current account or be a business start-up within 12 months of setting up. However, they accept applications from a broader range of businesses.
Clydesdale Bank Business Customer Service and Complaints
You can contact the Clydesdale Bank customer service team on 0800 032 3971 on Monday-Friday 8am-6pm.
Clydesdale Bank Business Contact
You can get in contact with Clydesdale Bank by:
- Call 0800 032 3971 (Monday-Friday 8am-6pm)
- Visit your local branch
- Post – 30 St Vincent Place, Glasgow G1 2HL
Clydesdale Bank Business Services Pros/Cons
- Offers a free banking period to eligible new customers
- Provide smart tools on their app and internet banking
- UK wide branches
- Integrates with leading accountancy software
- Offers a wide range of other financial products
- New proposition jointly with Virgin Money that hasn’t embedded yet
- Contact centre only operates during office hours
- Poor customer reviews