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Declined for business bank account

Declined for business bank account

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I have tried literally every high street bank and been declined, I do not require lending or even a debit card. Simply an account to hold funds and pay suppliers. The industry isnt high risk either.

Each bank have advised unless I pass the credit score (i have a CCJ) then there is nothing they can do.

Are there any other options?

Appreciate any help and advice.

Replies (11)

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By Sherman Holter
16th Sep 2014 17:16

Do you need a bank account at all?

 

Do you need a bank account at all?

I have a LTD Co client without one. 

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By King_Maker
16th Sep 2014 18:00

CardOne Banking do business accounts - although I have no experience of them (good or bad).

http://www.cardonebanking.com/business/

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Universe
By SteveOH
16th Sep 2014 18:24

Try Cashplus

www.mycashplus.co.uk

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By King_Maker
16th Sep 2014 18:49

Yes - forgot about Cash+.
 

Yes - forgot about Cash+.

 

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By Smartie99
17th Sep 2014 00:53

Try Santander......

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By I'msorryIhaven'taclue
17th Sep 2014 03:56

Metro Bank

Will your wife / partner be a part of the business? I've seen a husband and wife company neatly side-step Hubby's credit blacklisting by opening the company and bank account with wifey as sole director and shareholder. Further shares issued to, and a directorship bestowed upon, hubby as soon as the bank account is up and running.

I know, I know, you've probably already purchased the company in your name - but they're only £25 so I guess, if you had a mind to, you could take a run at that with a fresh company.

Otherwise, I'd add Metro Bank to your list of possibles - they're new, with fresh ideas about banking and fewer barriers.

Disclaimer: Of course, I'm not advocating that course of action; simply stating that's what I've seen savvy but credit-impaired entrepreneurs do. I've noticed this forum has taken lately to pillorying any "suggestions" that it finds morally or ethically impalatible, or legally indigestible.

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By awoodj
17th Sep 2014 16:07

How about clearing the CCJ?

If you have a live CCJ that is never good for credit, have you considered satisfying it and then your rating will improve and the problem might go away?

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By kellyanstee
18th Sep 2014 11:33

taxswag (creditswag)

you can pay to have a CCJ taken from your records. This would be the best way moving forward as you will be able to 'fix' your credit rating. I have been helping people for years in this way. A client of mine was refused a limited company bank account as he had a Public Record (it was only £400). He paid and had it removed from his record (just write to the court that issued your judgement in this instance). I don't think it costs more than £30 to have a CCJ removed (but you will need to pay the debt that it's attached to).

Kelly Anstee

CreditSwag (part of TaxSwag)

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Replying to TomHerbert:
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By I'msorryIhaven'taclue
18th Sep 2014 11:44

Natural Order?

awoodj wrote:

If you have a live CCJ that is never good for credit, have you considered satisfying it and then your rating will improve and the problem might go away?

 

kellyanstee wrote:

you can pay to have a CCJ taken from your records. This would be the best way moving forward as you will be able to 'fix' your credit rating. I have been helping people for years in this way.

Kelly Anstee

CreditSwag (part of TaxSwag)

Errr... I think the OP needs a bank account so that he can earn some money so that in turn he is able to pay off his CCJ.

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Replying to Tax Dragon:
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By kellyanstee
19th Sep 2014 11:55

Post offices do postal orders too. There's always more than one way to skin a cat (thank goodness!)

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@enanen
By enanen
18th Sep 2014 12:03

SUB PRIME BUSINESS BANK ACCOUNTS

RBS DO WHAT THEY CALL A FOUNDATION BUSINESS OR PERSONAL CURRENT ACCOUNT WITH DD'S AND S/O'S FOR CLIENTS WITH HISTORIC CREDIT ISSUES

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