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The Cumberland

The Cumberland business bank account comparison and review

The Cumberland building society has two business banking options available for customers within its operating area. Find out what they offer, including all the fees involved.

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By

Ronny Lavie

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The Cumberland offers a range of services to businesses located within its operating areas, including current accounts, savings accounts and mortgages, with a business team that specialises in hospitality and commercial lending.

Compare The Cumberland’s business accounts

Updated regularly
Name Product Account fee Bank transfers Requires credit check Accounting integrations Arranged overdraft Account management Key benefits Business bottom txt Link
Business Current - Option B Account
Business Current - Option B
£3 per month
Free
Xero
Branch, online & app
View details
Business Current - Option A Account
Business Current - Option A
£5 per month
Free
Xero
Branch, online & app
View details
Business Current - Schools - Standard Free Account
Business Current - Schools - Standard Free
Free
Free
Xero
Branch, online & app
View details
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What is The Cumberland business banking?

The Cumberland is a building society based in Cumbria, with branches operating in Cumbria, South West Scotland, West Northumberland and North Lancashire.

What type of business accounts does The Cumberland offer?

The Cumberland has three types of business accounts, depending on your type of business and daily transactions:

  • Option A. For businesses with a high proportion of cash and cheque transactions.
  • Option B. For businesses with a high proportion of electronic transactions.
  • Standard Free Account. For schools and non-profit organisations.

Before applying, you are directed to The Cumberland’s business banking calculator. When you have filled in details about credits to and payments from your account, as well as current arrangements, you are directed to the option that is most suitable for your business. The building society is currently offering 12 months of free business banking to companies with an annual turnover of up to £250,000, subject to certain terms and conditions. Below are the regular features and charges associated with each account.

The Cumberland business banking features and charges

Below are the details for each of The Cumberland’s business banking options:

Option A:

  • Cost of maintaining the account – £5 per month.
  • 35p fee for making direct debit and standing order payments.
  • 35p fee for sending money within the UK using online banking, £1.50 for sending money in branch.
  • £25 for CHAPS payments.
  • Cash withdrawal in the UK – £1,500 per quarter free, then 40p per £100.
  • Arranged Overdraft – 3.04% per quarter (12.73% EAR* variable).
  • Unarranged Overdraft – 5.659% per quarter (24.63% EAR* variable).

Option B:

  • Cost of maintaining the account – £3 per month.
  • No fee for making direct debit and standing order payments.
  • No fee for sending money within the UK using online banking, £1.50 for sending money in branch.
  • £25 for CHAPS payments.
  • Cash withdrawal in the UK – 75p per £100.
  • Arranged Overdraft – 3.04% per quarter (12.73% EAR* variable).
  • Unarranged Overdraft – 5.659% per quarter (24.63% EAR* variable).

Standard Free Account:

  • Cost of maintaining the account – free
  • No fee for making direct debit and standing order payments.
  • No fee for sending money within the UK using online banking or in branch.
  • £25 for CHAPS payments.
  • Cash withdrawal in the UK – free
  • Arranged Overdraft – 3.04% per quarter (12.73% EAR* variable).
  • Unarranged Overdraft – 5.659% per quarter (24.63% EAR* variable).

The Cumberland international business banking

Both business banking options from The Cumberland offer international banking.

Cost of international banking:

  • Cash withdrawal in foreign currency outside the UK – free.
  • Foreign currency payment outside the UK to another European country in euros – £12.
  • Foreign currency payment outside the UK in currencies other than euros and/or to non-European countries – £20.
  • Receiving money from outside the UK (automated credits) – 20p and up to £60.

The Cumberland business banking contact details

The Cumberland customer care team can be reached on 01228403141.

You can book telephone appointments and request a callback by filling in a form in the contact section of The Cumberland’s website.

The Cumberland business banking reviews

Online customer reviews are for The Cumberland as a building society, not specifically its business services.

On Trustpilot, The Cumberland has 2 out of 5 stars and a rating of “Poor”, based on just over a dozen reviews. On similar platform Feefo, it has 4.8 out of 5 stars, based on just under 1,200 reviews made in the last year.

Customers praise the fast, efficient and personal service, but some complain about problems with communication and obtaining certain products.

Pros and cons of The Cumberland business banking

Pros

  • Choice of three business accounts depending on your payments mix.
  • Integration with Xero accounting software.
  • Overdrafts available.

Cons

  • Branch network limited to the local region.
  • International banking is an option, but fees for this could be cheaper elsewhere.

Our verdict

The Cumberland business banking offering comes with online and mobile banking, but if you’re looking for a branch network then it’s limited to the local region. International banking is also available, but fees are on the expensive side. The general business account fees are fairly middle of the road – there are cheaper accounts out there, plus ones with better digital features. But The Cumberland does have a choice of three business accounts depending on your most-used payment methods, and local businesses may prefer to go with a local banking provider.

Get started by visiting The Cumberland’s website and sign up for an account. If you have read this review and decided that The Cumberland’s account is not for you, you can also compare other business bank accounts on the market.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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