A report by the Federation of Small Businesses (FSB) found 70% of firms are satisfied with their banking arrangements.

However, the survey found that the main point where things were likely to go wrong was when businesses switched accounts. Overcharging and poor customer service were also named as key problems.

The banks were also criticised for failing to provide - and publicise - free business bank accounts and 2.5% interest rates, as demanded by the Competition Commission.

An FSB spokesman said:

"There has to be a culture change within the banks so that they understand the needs of their small business customers and can then deliver even better services for them.

"The current profit levels of the banks demonstrate that they have the capability to do this."