An in-depth review of Countingup Business.
Countingup Business Review
Countingup Business Review — FAQs
Is Countingup a good fit for my company?
Countingup was made with sole proprietors and other small enterprises in mind. Its features aren’t geared towards large, intricate enterprises that have a lot of employees and routinely process tens of thousands of pounds in transactions. Countingup isn’t the only software out there that helps small companies with their finances. Tide, Revolut Business, and Starling Bank are just a few of the other options in a similar vein.
Compare Countingup to these other popular sites:
Tide is a mobile banking app developed in the United Kingdom specifically for use by small companies. Invoicing, tagging, and connectivity with accounting programmes are just some of the functions it provides. However, Tide lacks Countingup’s tax management features.
Revolut Business is a digital banking platform that provides services including managing expenses in many currencies, sending and receiving payments internationally, and more. However, unlike Countingup, it does not have tools for managing invoices and taxes.
Starling Bank is yet another UK-based mobile banking app with useful extras like invoicing, real-time balance, and accounting software connection. However, it lacks Countingup’s tax management features.
Why would a company want to open an account with Countingup?
Secure online money transactions; access to credit and overdrafts; the ability to securely transfer money between accounts; 24/7 customer support; real-time tracking of expenses and income; integrated invoicing and payment solutions; automated bookkeeping and financial reporting; etc. As an added bonus, this comprehensive service eliminates the need for you to purchase separate programmes or services.
Countingup allows you to maintain tabs on your business’s finances without the requirement for a separate subscription with a third-party accounting software provider, potentially saving you the cost of hiring a personal accountant.
As the fees associated with a Countingup account are proportional to the amount of money you bring in, it is a good option for a startup that is looking to keep costs low. You’ll get three months free to try it out, and after that, the prices could be reasonable given the services you get. Countingup’s parent firm, Prepay Technologies, is completely regulated by the Financial Conduct Authority (FCA).
Is there anything negative with opening a Countingup business checking account?
Countingup’s owners are subject to the necessary oversight, but the service itself is not a bank. Because of this, Countingup cannot guarantee the safety of any money you deposit with them. If that scares you, check into a more tried-and-true rival instead; there are several to pick from, and you can read many evaluations of them right here on our site.
Similarly, Countingup accounts may only be accessed and modified using the company’s own mobile app. There will be no way for you to log in to your account online. If your phone is damaged or lost, you may be unable to access your account until you replace it. Although anybody considering an app-only account should be comfortable with technology, some customers have complained that Countingup’s UI is not the most user-friendly.
Is Countingup a bank?
Not a bank, but an alternative to conventional financial institutions. It’s a convenient alternative to maintaining separate banking and bookkeeping arrangements for your company, offering all the benefits of a standard business checking account together with those of standard bookkeeping software.
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