Ask the Collective
The questions independent drinks founders ask most — answered. Distilled from years of community knowledge so the good stuff never disappears in the feed again.
What business banking solutions work best for UK drinks founders, and how do you navigate account opening?
Members recommend a two-bank approach: pairing an online-first bank with a high street option for security and broader services. Starling is widely praised for ease of setup, modern app experience, strong Xero integration, receipt tracking via company cards, and recently increased deposit insurance (£85k). HSBC Kinetic was highlighted as quick to set up with modern app features plus overdraft facilities. Wise is recommended specifically if you trade in multiple currencies. However, members note that online banks have limitations: Starling's company card requires naming a person of significant control at Companies House, which can restrict team access; they also offer less depth in financing services like invoice finance and FX hedging compared to traditional banks. For new company account openings, members reported frustration with recent rejections and lengthy timelines (3–4 months previously reported with Barclays). Lloyds was suggested as the most straightforward high street option. The consensus is that traditional banks offer broader financing options and better one-to-one relationship support, but are less flexible operationally—so the choice depends on your specific needs: if you need speed and modern UX plus basic functionality, go online-first and add a high street bank for lending and FX services; if you need serious lending or hedging options, start with a traditional bank despite slower setup.
Which business banks work best for UK spirits companies, and what are the key features members recommend?
For spirits businesses, several banks stand out with different strengths: - **Mettle** — owned by NatWest, includes a free FreeAgent account, but does NOT work with spirits companies, so not suitable for this sector. - **Starling** — highly praised for overall service, app and platform quality. Offers a Euro account for £2/month, making it a strong option for multi-currency needs. - **Revolut** — recommended for multi-currency support and has been reliable for members' small business accounts. Some past concerns around security have reportedly been addressed and are now on par with competitors. - **Wise** — consistently recommended for multi-currency needs and business accounts. Offers FSCS protection (which Revolut does not), making it a safer choice for regulatory peace of mind. Members suggest Wise or Starling as the safest bets if you're handling spirits and need multi-currency capability.