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Countingup opens over 1,000 business current accounts

Martin Greenland | 14:59 Thursday 14th June 2018

Countingup has opened over 1,000 business current accounts in just two months.

The challenger bank – which launched in April 2018 – has gone from 500 accounts to 1,000 in just three weeks.

Tim Fouracre, founder and CEO at Countingup (pictured above), said that its customers loved the bank.

“The early growth we’ve seen is down to amazing word-of-mouth referrals. 

“The IT fiasco at TSB has also gifted TSB’s competitors with an opportunity, as I’m sure it’s not just us benefiting from business owners fed up with TSB’s reliability issues.”

Tim is a chartered accountant, and founder and former CEO of cloud accounting company Clear Books.

He created Countingup when he saw the pain small business owners faced in trying to get two separate systems – accounting and banking – working together seamlessly.

He continued: “The bank account is the ‘what’ of your business, ie the actual transactions, the real flow of money. 

“The accounting is the ‘why’, ie the interpretation of those bank transactions for tax and compliance. 

“Most businesses only find out the ‘why’ months after the bank transactions actually happen when they manually do the books. 

“Many self-employed sole traders leave it right until the end of the tax year and then they’re suddenly under pressure to get their tax return done. 

“At Countingup, we’re bringing the ‘what’ and the ‘why’ together to make it easy to run your business.”

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