This article is aimed at reducing the odds of rejection when applying for a business bank account.

For those that don't have time to read through the whole article, we've listed our top business accounts for would-be business owners with bad credit histories below:

Top accounts – no credit checks:

The top card based business accounts for those with bad credit or who need an account opened ASAP.

  1. CashPlus Business Account – No up front fees, instant sort code and account number, low annual fee
  2. CardOneBanking Account – Near guaranteed acceptance, account open within 24 hours
  3. Tide – A new small business account, no credit checks, instant online decision

Top traditional bank accounts:

The top three traditional business bank accounts for those with poor credit histories.

  1. Barclays Business Account – the best if you have a Barclays current account
  2. NatWest foundation business account – see below of more details
  3. Santander start-up business account

Millions of people in the UK suffer from a bad credit history. Whether that's from defaults, County Court orders, or bankruptcies. In some instances they might not even be to blame for the initial debt. Think couples with joint finances, or students renting a shared house.

The affects of a poor credit history on your personal life are well known. Difficulty in obtaining loans, credit cards, or mortgages at a decent rate, or even being accepted for credit at all. But at least there are a number of ‘Basic Bank Accounts‘ that will allow you to make deposits and withdraws and even use a debt card.

What if you are self-employed and need a bank account for your business? If you're a sole trader with limited activity, you might be able to use your personal bank account for very basic transactions, but if you're setting up a limited liability company (LTD) or limited liability partnership (LLP), will likely need a dedicated business bank account.

The problem

Despite limited liability companies being separate legal entities to that of their owners, or directors, both high-street and on-line banks require the director(s) to pass a personal check before an account can be opened. For those with a bad credit history, that can often lead to rejection, as many would-be business owners have found out.

Unfortunately there's no such thing as a basic business bank account, but there is action you can take to help tip the odds of acceptance in your favour.

With that in mind, we've created this guide to opening a business bank account with a bad credit history.

Note: We've been made aware of a website claiming to offer information on a “UK Business Bank Account with Visa Debit Card and Cheque Book For Those With Bad Credit.” We'd advise against paying any website for this type of information. If you're going to pay for advice make sure it's from a trusted professional.

1. Create a solid business plan

Creating a solid business plan is a sure way to show business account advisers that you are serious about your venture and have a good understanding of the financials. You don't have to be a Cambridge MBA to create a decent business plan, you can get advice and support from Business Link (now part of gov.uk), as well sample business plans.  The most important aspect here is to base your plan around solid financial forecasts and projects giving both you and your new bank an idea of the business' potential.

2. Check your credit report

You'd be surprised by the amount of people who apply for big-ticket financial products, like a loan or mortgage, without first checking their credit report. If you are one of these people, stop now.

You need to get hold of your credit report. It will flag up any potential issues in your credit history and allow you to get them sorted out before applying for your business bank account. It could literally be the difference between acceptance and rejection. Not only that, but checking your report is free with Noddle, and Clear Score.

In the case of Experian's Credit Expert, and Equifax you can even get paid to check your report by taking advantage of special offers through cashback websites like Quidco or Top Cashback.

What should you be looking for?

Check your file for any County Court Judgements (CCJs), Bankruptcies, and defaults. Make sure all the basics are correct, your current and previous addresses, name, date of birth, and financial accounts. If you notice anything that seems wrong or out of place such as outstanding debts that you've long since cleared, or misspellings in you name or addresses, contact the agency and get the information corrected.

If you are currently in a dispute with a company over a debt, you can place a notice of correction on your file. This will force new lenders to personally look over your file to see what you have written, rather than the process being an automatic “computer says no” affair.

3. Get on the electoral role

Next check to make sure that you are listed on the Electoral Roll at your current address. This is extremely important, as not being registered will make it nearly impossible to open a business bank account. If you are not registered, make sure you register by clicking here. The bad news is that the register is only up dated twice yearly (Spring/Autumn) and it can take credit referencing agencies up to two months to update their records once the register is published.

Tip: Unless you want to be inundated with junk mail make sure you don't sign up for the ‘edited, or open' register. This is the one is open to companies for marketing purposes. 

Applying for a business bank account

If you have and outstanding balances on credit cards, store cards, or overdraft, it's best to clear these (if you can) at least three months before making your application. This helps because typically banks are wary about ‘lending' to those who might be overexposed financially. Yes, you may just want a simple business account, and have no intention of obtaining credit, but banks will be assessing your business' potential to make them money.

Once you are satisfied that your credit report is order (as much as it can be), and you've got at least a basic business plan prepared complete with financial projections, you're ready to apply for a business a bank account.

Do you have defaults but no CCJs or Bankruptcies?

In this case it might be worth talking with your current personal bank about a new business account. If you have a basic current account with one of the main high-street banks, and you’ve run your account well then they should be your first port of call. Half of the work is already done. They have already verified your ID and address and will have a good idea of the risk you might pose. Barclays is known to be particularly accommodating if you are a current account customer, and a new account can usually be opened within 10 days.

To avoid an unnecessary credit check, arrange an appointment with one of their business advisers, explain your situation and ask for their opinion on the chances of you successfully opening an account. You might be asked some tough questions about your business, so make sure you know your stuff inside out.

Can't open an account with your existing bank or you have some CCJs?

If you have previous CCJs, and can't open a business bank account with your existing bank, the Natwest Foundation Current Account might be the one for you. The account is specifically designed for those with poor or bad credit histories looking to set up in business. Here's what they say:

If you're starting your first business and have no trading history, or if you have a poor credit history, our Foundation Account could be just what your business needs.
It provides straightforward, transaction-based business banking, giving you and your business time to establish a credit and trading record.

Update Oct 2014 : Natwest has now removed all information relating to the Foundation account from their website. I've been assured that the account is still available. For an application pack contact the New Accounts Team on 0800 206 1962

Update Dec 2015: Natwest have updated their website again. Still information about the foundation account is missing, but their business account page states:

If you don’t qualify for our startup Business Current Account package, for example if you have a poor credit history,  we will talk to you about our Foundation Account when we receive your application.

There are no borrowing facilities available with a Foundation Account.

Update Apr 2017: Natwest Business confirm via Twitter that the Foundation Business Account is still available

Can't use the Natwest Foundation account?

Despite specifically being aimed at those with a bad credit history, the Natwest/RBS Foundation account is only offered to those who fail a credit check for their main business accounts. Even then, it's not unknown to be turned down for this account, particularly if your adverse history is with any of the banks in the RBS group.

In this case your options in terms of the main highstreet banks are more limited. Though it has been known for people to be turned down by Natwest only to be readily accepted for the Santander Start-up Business Current Account, or the Clydesdale / Yorkshire Bank Business Account. Though for the latter you must not have been Bankrupt at any point, or have any current CCJs against you.

Card-based accounts –  A fast surefire alternative with no credit checks

If you need a business account in a hurry, then perhaps card-based accounts offer the best solution. These accounts have improved massively over the years and now offer most, if not all of the features of a traditional bank account at a similar cost and are often faster to open.

Even if you don't intend to use a card-based account in the long term, in the short term, these accounts can be a life-saver, enabling you to get your business up and running with minimum delay. Once your business is earning money consistently you can then re-apply for a traditional bank account, and back up your application with proven financials to help your case.

These type accounts are great for small cash handling businesses, contractors, freelancers, you name it. Everyone should be accepted for these accounts as there no credit check involved, but you will need to verify your identity.

The beauty of these accounts is that if you are rejected for one of them (and we can't think why you would be), then you can apply for the other without it affecting your credit record.

The two top card based business accounts are summarised below:

CashPlus Business Account

The CashPlus Business Account operates just like a regular business bank account, allowing you to send and receive cash in your business name, as well as use online banking and Mastercard debit facilities. There is a near 100% acceptance rate and no credit checks are required.

The drawback is that there is an annual charge of £69 to keep the account open (though this actually cheaper than traditional business banking, once the ‘free' period' ends), and you won't be able to accept cheques.

Here's what they say:

  • Send and receive bank transfers and pay in cash for free
  • Set up Direct Debits and Standing Orders for free
  • The account will be in your business' name
  • Register the account for Merchant Services & with HMRC

CashPlus account holders (and there's more than a million of them) can also use the Post Office to carry out ‘in branch' style transactions. The account is backed by Advanced Payment Solutions (APS) who's clients include government departments, and councils, as well as business of all kind. APS also has a limited credit licence, so business support is available if needed in the form of loans and overdraft facilities based on business takings.

We take a look at the CashPlus Business Account offering in more detail here.

Apply directly for the CashPlus Business Account and get your account number and sort code immediately.

The CardOneBanking alternative business account

Since we originally published this article, we have experience of another card-based business account, this time from CardOneBanking. The account is similar to the CashPlus option, but it does allow you to deposit cheques, unlike the CashPlus account, and utilises Barclays branches as well the Post Office for other deposits and withdrawals.

Transaction fees are similar to the CashPlus option, though the CardOneBanking service fee is higher at £12.50 per month, but this can be off-set against tax as a business expense.

Crucially, this alternative business account allows you to easily accept international payments either electronically or as cheques, and of course there are no credit checks involved.

There is a £55 application fee, but this is refunded if you don't pass the identification process. CardOne tell us that the majority of accounts are opened within 24 hours.

Read more about the Card One Banking business account in our overview, or click here to apply now.

Try Tide – a new fintech start-up

If you're running a small business, and prepared to carry out all your transactions electronically, then perhaps Tide might work for you. We have a full overview of the account here, but essentially, it's a card/app based account aimed solely at small businesses.

The main selling point is that there's no annual or monthly fee, just a £1 charge for using the card in ATMs, and a 20p charge for all faster payments transactions. The drawback being that you can't pay in physical cash like you can with the CashPlus or CardOneBanking accounts, can't use cheques, nor can you accept international payments, but not everyone needs that.

Also take a look at our guide to the top business bank accounts for more banking solutions.

We want to hear your success stories. Share your thoughts and experiences on business bank accounts by leaving a comment below.

44 Comments

  • Jon83

    It’s a real shame that basic business bank accounts don’t exist. With unemployment at over 7% we need more entrepreneurs taking the initiative and setting up their own businesses. After all small businesses employ over 47% of the UK private sector workforce.

    It’s near impossible to run a business without a bank account, and those with a pervious poor credit history or bad debts are the ones that suffer the most, but the Government is still waiting for banks to agree on minimum standards for basic bank accounts for personal use, so a basic business account looks a long way off.

  • frustrated

    I went in to Metro Bank and was told the deposit account is only available if you also have the current account (despite what it says on the website to the contrary)

    • admin

      Sorry to hear that. That wasn’t always the case, but things could have changed since they started expanding. Thanks for letting me know. I’ll check it out and update the article.

  • Mel

    I have two accounts with Santander but was refused a business account because of poor credit history , went to Natwest and was given the foundation account with no problems!!
    They offer two years free banking while Santander offer one. A better deal for me. Thanks for the refusal 😉

  • James

    Has anyone been able to open a business account with a CCJ?

    Thanks
    James

  • Peter

    I had to have a business account to operate as a contracting consultant. I don’t have any outgoings to speak of except for business expenses (travel, hotels, etc) and I only have income which is not inconsiderable. I have no need or desire for overdrafts, cheque books, etc.

    Initially I tried with my own bank HSBC and the computer said no. I then tried with Metro and their computer also said no. I haven’t even bothered trying with the other high street banks on the basis of these 2 rejections.

    I did get ‘accepted’ by Cash Plus but they have been an unmitigated disaster. My first set of invoices came to nearly £23k and the payment was rejected because there is a limit on ingoing payments of £15k (which I guess is in the small print somewhere but I didn’t know about it). I then had my limit raised to the maximum £30k and I even got the remitting company to split the payment and send it in 2 amounts. The 2 payments of £11k odd then went into investigation when they came in because they were ‘large amounts’, whatever that means. It took me emailing a complaint to the CEO of APS to get these payments ‘authorised’.

    With all of these financial institutions I find it exceedingly hard to understand why it has proved so difficult to give them money. Although I have 2 very old defaults sitting on my personal file, there is absolutely no credit risk to them from this business. It is simply money in and then a bit in the way of business expenses and dividends out. I’m practically pleading with them to take in around £55k and they don’t want it.

    How has it come to this? Banks can not seem to think for themselves these days. Anyway, I’m not going to let this lie, particularly with HSBC. Metro ‘bank’ I couldn’t care less about. My whole experience with them was pure Disney.

  • martin

    I have to say Peter I’m right there with you. I have an LLP with business accounts at santander.I decided to trade then as a ltd company. Santander turned me down flat for a new business account. How the hell can that happen. Haven’t tried anyone else yet but it begs the question would anyone notice if I just continued to use the LLPs business accounts !!!!

  • John

    Interesting thread. I have recently started contracting back in the Automotive Engineering industry after a period of self-employment running a leased tied pub through the wonderful Pub company called Enterprise Inns.
    Although I appear to have managed to avoid the more usual fate of Bankruptcy that many of their lessees face I have been severely financially damaged.
    I was advised upon starting the contracting that I should set up as a Ltd company to take advantage of the benefits. Unfortunately the only thing likely to affect my ability to do this is my ability to get a business bank account.
    As the opportunity came about quickly and needed my immediate start I have started , initially I hoped, under an umbrella company.
    Obviously the Ltd option would be best and as I only need the account as a deposit account with the ability to pay my wages and dividend from, with no requirement for any credit or overdraft I hoped this wouldn’t be so difficult. I may have been wrong…unfortunately my credit history is damaged as a result of the three years lining Enterprises directors pension funds.
    If anyone can advise of a solution that may help here I would be interested as the Umbrella setup is not the most efficient.

  • Dave

    Do you know anyone that you can trust to own 80% of the shares of a new ltd company? I f they apply for an account for the new company, then if more shares are transferred to you later then you may not have to notify the bank, and in the interim you could have a signed share transfer form from the major shareholder that you can lodge at any time in the future.

  • Richard

    Have just been turned down by HSBC, this is insane. I do not need any financial support just an account in which to dump my earnings.

    How banks can refuse limited companies an account without any lending requirements at all is beyond me. The country is full of great business owners/entrepreneurs without fantastic credit reports and this stops us from making the most of the opportunities ahead of us.

    I’m now faced with having to transfer my shareholding to my wife and some point buy it back. So thank you HSBC for stopping me get on with own life.

  • carl

    Natwest are still running their foundation account but you need to specifically ask for it. Even then others have been turned down only to successfully open an account with Santander.

    I’d not thought of Dave’s method above and transferring shares to someone else. That takes a lot of trust and has implications for the other party.

    Card based accounts such as Cashplus and Cardone can be a decent stop gap to get you up and running, but they do cost. Saying that though Barclcays charge around £5.50 per month (£66 per year) for the pleasure of having an business account with them.

  • Geremy B

    It is astounding at a time when job creation and private enterprise is being promoted but banks are not playing ball by refusing basic business accounts, even to their existing customers. This is beyond ridiculous.
    Personal experience – I have applied with Barclays, HSBC, TSB, Metro and all turned me down. I’m still in the process with Natwest/RBS for the foundation account and will also try Santander and Lloyds. Suffice to say I’m not holding my breath for any success. In the meantime, I’ve opened the Cash Plus account since I have invoices to process imminently.

  • I have a very bad credit history, payroll companies don’t work for me. I have set up a Limited Company no problem and I have just tried Cash plus and been rejected. My Business is as an HGV driver,simple enough can anyone recommend what I should do next ?
    I have been off work for three months (operation) and now need to get back to work. Any help would be appreciated .

    • carl

      That’s odd that you weren’t accepted for the CashPlus card. Have you tried the CardOne Banking Accont? It’s similar with the addition of using Barclays branches as well as the Post Office. Neither of these applications will show up on your credit history so you’re safe there. CardOne also refund the fee if you’re not accepted, though I can’t think why you wouldn’t be.

  • John

    Thanks Carl, I have filled in the Card One Account and made the payment i’m waiting to hear from them .

  • James

    Hi John I have just applied for the card one account. How is it going with them – they say on their website the account can be up and running quickly.

  • umar

    Hi Guys, here is what you need to do to bypass all of this agro.

    Get someone with good credit to set the ltd company up.
    Make them go and open an account with a mainstream bank.
    Then after a couple of weeks, go to the bank with the director and add yourself on the mandate to sign and have authority.
    Then add yourself as a director
    Then resign the other director
    Then go and change the mandate to only you to sign.

    I did it with the HSBC, to whom i owe money to from having previous personal and business accounts with ! so i know it works.

  • John Hughes

    Hello Carl and James,
    I had to send them some other information which I did in support of my application and it was accepted just over a week ago. I have my card and my pin number is on its way so all good for now. Good luck with your application James.

  • Frederick Cowell

    Hi just a couple of bits of info.

    The Foundation Account does still exist with Natwest but you can forget it if you have a CCJ of any description no matter how old or how small. I was asked the question why I wanted the Foundation Account (which is pretty obvious is it not) and then asked if I had any CCJ’s. I gave an honest answer, as it’s still on my credit file I couldn’t do anything else really and that was the end of the conversation. At least by being honest it saved me the time and hassle of going through the whole application process and weeks of waiting only to be rejected at the end of it all.

    If your business or in my case limited company uses a mail forwarding address (no matter that you hold meetings and seminars from the same address) Cashpluswill reject you as they will not accept what THEY consider to be any mail forwarding address as a registered business address and state as much on their website, they care not if you also provide your home address and that it is also your trading address too believe it or not it is possible to trade from more than one address Cashplus!

    Which just leaves the CardOne account which is going through smoothly as I write, although I did squeak at the £50 application fee for which there is no real justification for in my opinion, as we the applicants do all the donkey work obtaining certified copies of our ID and proof of address pay the recorded postage and stick it in the post and all the CardOne Guys do is open the letter put a receipt stamp on your two pieces of documentation and put it in a file, but I guess we must be thankful for small mercies.

    Good luck with finding a business account everyone. Crazy situation that we are all having to go through, so much hassle for such a basic facility if you do not require an overdraft, loan or credit of any description with your bank account then why should you be prevented from using a bank. There quite simply should not be any credit checks for opening basic bank accounts ID and Proof of Address fair enough so perhaps it’s time for a two tier application process one for those wanting credit and one for those who don’t.

  • Julie

    Thanks for this very helpful article and the comments. Just trying to make sense of all business bank accounts etc and so this is very useful information from a trusted source.

  • NJD

    This is completely disgraceful.

    I have just had my business account cancelled with Santander. we do around 1 million of turnover per year, however I raised 23,000 GBP from High Net Worth Investors under the EIS Scheme and put the money through the account and they cancelled my account with 2 weeks notice. Metrobank, TSB have also turned me down.

    My credit is perfect, my chairman’s is not but he has 2.5% of the company and it should not matter.

    Someone needs to advise the government about this, the banks have been spooked by some new regulation or other and don’t want to take anyone on. This is complete madness.

    N

  • andy

    Hi
    I have missed payments on my credit file and a default I am catching up with the payments but need a business account could anyone please advise me on the best bank to apply for a business account

    • carl

      You probably already have an account by now. A few missed payments and a single default could be a problem. In that case it’s best to try the bank you already have your current account with (unless your missed payments and defaults are with them), as they will have evidence of your running of the account, and an existing relationship with you. Barclays tend to be good in this regard.

  • John Walo

    I had the misfortune to have a shop fitting contractor go bust on me a few years back that caused me great financial difficulty, My bank -at that time took the opportunity to cash in on this mistake and consequently ruined my what was excellent credit rating. It seems that banks have forgotten that THEY caused the recession and the damage to business’s. I’ve found it very difficult to keep going, now we’re out of recession I need a bank that will give me some help but I don’t think there is one out there.

  • James T

    has anyone had any success with FSB? I saw that if you become a member with them you can access a co-op business account.

  • I successfully opened a Cashplus Business Account, as I wanted to set up a simple Internet business and receive Clickbank commissions, which is normal for most Internet Marketing businesses. However I hit a stumbling block, Clickbank only send commissions direct to bank accounts that have either an IBAN or SWIFT codes (which is the international equivalent of sort codes for global banks), sadly Cashplus don’t have either of those yet according to their Twitter feed. The only other alternative is to receive international cheques direct from Clickbank and pay them into my current account or get a current account with an IBAN or SWIFT bank code. Why are the banks making things so difficult for their customers, don’t they want our custom? It certainly seems that way!

    • carl

      Normally in such circumstances the organisation would receive the money into their account then use the reference on the transaction to appropriate it to the customer. It’s a shame Cash Plus can’t at least so that.

      I think if you’re receiving personal cheques you’ll be OK depositing them into your personal account provided it’s not like loads of tiny transactions per month.

      CardOneBanking accept personal or business cheques, but as you’ve already gone down the CashPlus route, it’d be extra hassle and cost to change.

      What we need a decent high-street bank to open up a ‘No-frills’ business account even if it’s charged for, but they don’t seem to want to do that because they make too much money from overdrafts and credit cards.

      UPDATE 2017 – Both CashPlus and CardOneBanking accept international payments now

    • carl

      CardOneBanking confirmed with me that they do accept international payments. Cashplus don’t. I will amend the comparison article in due course.

  • kristian

    I read a lot of comment on here realy good and helpful . I am thinking of starting my own business up first time. Yes ive screwed and had ccj . So ime hoping cash plus will be good .. as I dont think grom these comments other banks will help ..

  • Ben

    The co-op are stingent, they cited a 4 year old default during my December ’14 application and asked me to wait until June ’16 to re apply. This was through the FSB membership, so the membership itself although it gives you a better account (2 years free), still seems to have the same criteria, i didn’t even ask for any borrowing, just a ltd co. account.

  • I have just been down to the bank and opened a business account with my bank barclays had no problems at all and both me and my business partner have bad credit. We run a small leaflet distribution company based in Kent and have been in Business as sole traders for over 10 years but wanted to go LTD so it looks better. I had a good read of this site before going to my bank and picked up some great tips. Thanks for sharing

  • we went to Metro bank and were refused an account because some of our overseas trade – India, China etc were not markets they were comfortable dealing with. Given we are in Textiles and these are huge markets then this is a strange attitude.

  • Metro Bank refused me due to bad credit (They do an Experian check).

    Natwest/RBS foundation account is only applicable if you can declare your CCJ i.e. repayments etc, if its active then you’re dead in the water.

    Santander seem favourable but again depends on your CCJ status.

    Co-Op won’t accept anyone with an active CCJ (has to be over 6 years).

    Barclays seem favourable but again depends on your overall credit rating however they state they can still offer a basic free business account.

    CardOneBanking looks the easiest, be aware of the costs involved however there is a £55 application fee (Refundable if the application fails).

  • Johnson

    All this credit checking etc has gone hysterically too far, damaging entrepreneurs/small businesses from starting projects etc., especially after the banking crash, which damaged alot of good folk/established businesses through no fault of their own, only to be doubly damaged by having it all then registered on public data bases- credit reference agencies have now become a ‘cancer’ to progress,also actively marketing everyone to do credit checking on themselves (albeit at a cost and huge profit to the agencies) combined with the rush to log anything at all on these networks- it might be said credit reference agencies might have been major contributors to all the recessionary issues in the first place- capitalism only exists on the basis of money being allowed to flow, and so making that harder must have an obvious outcome to business expansion.The time has come to start putting a severe restriction on their activities.

  • i want to open a business account i have tried the high street bank but the refuse me guess because of the bad credit. i apply to card one they refuse me and i tried cash plus they open the account after about one year of running the account the account was close i ask why they refuse to disclose the reason.. i dont now what else to do.. should i re apply to card one again? please i need an advice.. i really need a business account. all my transaction is on hold because of it… please can some one advice me. thanks

    • Carl Michael

      You have nothing to lose trying CardOne again since the application fee is refundable if you’re not successful, but you need to find out why your CashPlus account was closed. Did you inadvertently breach any terms or conditions? Since you’ve got a years worth of trading and proof of financials under your belt, I would try a highstreet bank again. Barclays and Santander seem the easiest to deal with, though if you hold a personal bank account with one of the other big player it might be worth starting their first.

  • These cards provide various advantages to the customers.

    Your credit file might not reflect all your clear credit score accounts.
    Holders with bad credit history do not have to get disappointed as credit scores do not act as the vital feature in approving
    these loans.

  • Hi,
    My credit rating at present isn’t brilliant……
    I recently went to a Metro bank branch based on that they only require basic info.
    I saw one of their business bank advisors and went through the application to open a business account. I was advised that they would do a basic credit check. I said knowingly my credit rating was brilliant at present mainly due to some missed payments as have been out of work for several months but I’m now back in work and I was sorting any monies being owned. The advisor advised they are only required to run basic check. Now something obviously came up on their screen as they said they needed to have a chat with the branch manager. So off they went for around 5/10 minutes. I’m now sitting at a desk like a naughty child thinking what’s come up… The advisor eventually returned and advised they will have to wait a decision from the Area Director before it would be agreed that they will open the account. I said why’s that as under current legislation you can’t refuse me a bank account based on whatever my credit history is. The advisor said yes I’m correct with regards to a basic current account but not on a business account. The reason my application was being put on hold so to speak was based on my ability to pay bank charges….!! Can anyone tell me if this is correct you can be refused a bank account on that basis.

  • Dennie

    I opened a startup business bank account with Santander last week for my newly formed Ltd company. I have 2 CCJ’s which are 2 and 3 years old which I’m still repaying. I had no idea it was so difficult to open a business account. I actually didn’t approach my own bank which afterwards I thought might be a mistake. Was a fast process with free banking for a year.

    • Isabella

      Thanks Dennis my credit rating ain’t great due to baggage from divorce. I am getting there but it’s still ongoing. I went to lloyds as my friend is s bank mgr there but no luck even with their influencing and speaking for me explaining this is no fault of mine etc etc. However I do bank with Santander and called them today no problem account now active. I was worried after Lloyds but your post encouraged me. Thank you

  • Martin

    Hi guys hope someone can help , I need to open a business account pretty quickly , I’ve just come out of bankruptcy, yes I know it’s bad but not all my fault but that’s in the past now , can anyone help or point me in the right direction. Many thanks in advance

  • Nigel Ford

    This country is a joke when in Spain you can open a basic bank account with a passport and contract of employment. All banks operating within the EU should be offering the same services on identical criteria should they not? Business accounts with no credit facilities should be a basic right providing you have adequate identity and paperwork from Companies House

    • Carl Michael

      The problem is that if you’re making money, they’ll always be organisations that want a piece of it. Hence why even the traditional banks like Barclays can charge up to 35p for making electronic payments, or £1.50 for cashing cheques, and they’re not alone.

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