Business Account & bad credit history

1952suffolkboy

I wonder if anyone can help? I run a small company with a turnover of about £75k a year. The company was formed in 2002 and traded for 4 years before being dormant for two years.

It has traded again for the last 18 months. I have now discovered that the company accountants (also the registered address) failed to fill in company returns for two years and the company was fined by Companies House. I had no knowledge of the fine which was obviously not paid. This resulted in court action (which again I did not know about) and eventually a CCJ was issued against the company. I am now fully aware of the position and am repaying the sum over a ten month period

I now wish to open a new bank account as I have not been satisfied with the service I have received from the current bankers. This is proving very difficult with rejections due to the CCJ.

Does anyone have any recomendations?

fruittreemarketing

sabberiqbal wrote: »

Hi folks i asked the same question
i have over 7K IN CCJ'S and no credit history, my credit score was in the low double no.s s
and i was unable to open a bank account whether it be business or personal
i opened a halifax treasurer's account which is very basic and then a mate suggested Islamic Bank of Britain, i got a business current account with paying in book,cheque book and maestro card and i run my account online
no bank charges for 18 months and no credit checks whatsoever
They are a bit slow in processing details, i e took 15 days to open my account and a further 21 days for my cheque book to come.
If any of you guys are struggling to open a bank account whether business or personal i think that you wouldnt have a problem with getting an acount with these guys
hope this answers your question

Hi,
Did you say you got a business account with IBB with no credit check?
Kind Regards
Kev

fruittreemarketing

big_Daddy_Dave wrote: »

it shouldnt be an issue at all.

limited company is a separate entity to yourself so ur credit shouldnt affect it unless your handing out director's guarantees and stuff.

i started my business just before i turned 18 and was able to get a current account and debit card, and 3 months later after looking after the account well got an overdraft and business credit card, but i had turned 18 by that time, it doesnt affect my credit score whatsoever, ltd companies have their own credit profiles

Hi Mate,

Interesting post. I was under the impression that banks credit check the directors?

Kind Regards
Kev

Jabari

All,
I was in a similar situation for 9 mths. and thought that Halifax would save me. They had a no status (no credit score) pass book bus. acc. but cancelled this svc in Jan/2010. I was able to find another 'bank'. that offers a similar account. - Bath Building Society. The only credit service check done is to verify identity. They open your account within 2 days. Good luck.

simoneastwood

Hi, can anyone suggest a basic bank account which will be given to me as I have poor credit? Apparantly the Halifax have removed their facility, not sure if they have a new one to replcae it, but all i need is to have somewhere for my limited company to be paid.

Thanks in advance

knightfox

get a copy of your credit file and go and talk to the major banks. Even try Santander and talk to the staff, see if they will help you.

peterflavell

Trying to open a sole trader business account but having trouble due to bad credit history caused by several companies going bust on me last year leaving me stuck for cash, however I have struggled back and am paying off all people who are owed by me. I need to open a basic bank account have cheques to deposit dont need any overdraft. H S B C and CO OP Bank have turned me down and I think this could be the case with others if I apply. Any guidance please would be appreciated. Regards Pete F

Reeveo

knightfox wrote: »

get a copy of your credit file and go and talk to the major banks. Even try Santander and talk to the staff, see if they will help you.

Santander stood firm even after an appeal, when I tried to open a Ltd Co business account. The credit rating got in the way. My DMP is paid off and I have no debt. My Co requires no credit facility just a place to put next tax bill. It seems I want to stay legal but the law gets in the way, my existing Sole trader account (Santander) is not suitable?
Can anyone tell me if the info higher up this thread with regard Natwest is still current? A further refusal will put another black mark on my not so good credit file. Thanks

pmduk

Other threads recently have mentioned a Natwest Foundation account which may be worth looking at here. I've not got a business account so can't help much more than that.

ThelmaBGraham

Hi, I want to know about the best banks having best costumer satisfaction. because i am so much struggling with my current bank service.