"As you can see from the enclosed letter," he writes, "the rules have now changed and I need a good deal elsewhere."
The letter from Nationwide says it is making the changes because its Investor account is not intended to be a business current account used for regular transactions and payments.
So now you can carry out only two transactions in a branch in any one calendar month. A transaction is cashing a cheque, a withdrawal, and internal or external transfer to another account and a deposit.
"Just to clarify," adds the letter, "a deposit of up to 10 cheques and up to £5,000 cash at a counter visit will be treated as one transaction. All other withdrawals and transfers will be treated as separate transactions, even if carried out during one visit to a branch counter." It points out that, on the bright side, queues will be shorter.
Karim has requested that C-Store writes a feature on banking for small business. I pass this on to the editor via this copy!
He adds that an examination of debit/credit card processing, ATM or cashback and the relevant costs in banking charges might bring enlightenment, "or even ways of utilising cash for a profit rather than banking it at a cost." (Might I suggest going into money lending?)
As a start, I recommend you check out what deals may be on offer if you belong to a group or association. And then there is the other fount of knowledge: readers. So timely tips everyone, please.