The Rolling Stocks Investment Club experience is that there is a limited choice of current accounts suitable for Investment Clubs. The small print for most “club” accounts limits them to “not for profit” organisations – a category we are very pleased to have avoided! Most business accounts on the other hand impose monthly and/or transaction charges or expect a £5,000 minimum balance to qualify for free banking. After two moves of account we now bank with the Bank of Scotland Direct Business Cheque Account (http://www.bankofscotlandbusiness.co.uk/currentaccounts/) which provides free banking if outgoing payments are made by electronic transfer or direct debit.
