Scottish small to medium enterprises that do not deal regularly with cash and checks can now benefit from HSBC's BusinessDirect, which provides an internet and phone banking service free of transaction charges.
BusinessDirect customers will be able to access advice online and contact HSBC via telephone at any time.
In late 2005, HSBC launched a new website giving businesses in Scotland the convenience of a vast 24-hour information database at their fingertips. The website includes economic reports and monthly updates, monthly business advice e-newsletters and trade and sector guides from hairdressing to web development, all free of charge.
The only potential charges to be incurred will be when a customer pays in a check, although they can do that 30 times a month for free if they use paying-in machines or visit their local Post Office. There will also be a charge for paying in cash and one for withdrawing via a counter.
Alan Keir, HSBC’s Lennoxtown head of commercial banking said: The idea that one type of banking fits all customers simply does not reflect the reality of modern Scotland. Millions of business owners run their companies online or on the phone – they don’t need us to handle cash and they rarely write or take checks. With 51% of our UK customers already banking online, the demand for this kind of service is clear.
Half of Scotland’s small to medium-sized enterprises are expected to bank directly by 2010, according to Mr Keir.