HELP rubbish credit rating need business account

OK so our debt is coming down fast was 23k at worst (when I found here lol) now under 4k and mortgage now repayment so coming down as well all good.
(23k not at my joining date lurked for about 18months)
Hubby is in IT and has for a long time wanted to go onto contract work as the pay is much better (2-3 times as much) and it is more varied and challenging. He see it as the next step in his career. He has been working full time PAYE and part time self employed, but now wants to go over to contract work full time.

We have looked into this alot and considered the pros and cons, spoken to a number of other contractors he knows and agents to find out possibly pitfalls. Hubby feels if he doesn't go no he never will so we are committed to it.

Looked into the various ways of arranging the finances as currently I do his self employed books. We want to go with setting up a limited company.

The problem is this, our credit rating is pretty rubbish still (takes ages to improve) but no CCJ's.
To set up a limited company we need a business account. We don't need or want an overdraft, just a cash card would do and probably online banking.
The equivalent of a "basic" current account but a business account.

Any ideas who we could get one off?

Ali x
"Overthinking every little thing
Acknowledge the bell you cant unring"


  • blackclouds
    Who do you bank with at the moment ?

    To be honest if you do not need card / overdraft etc shouldnt be a major problem. I used Lloyds and had to take in my certificate of incorporation and then wait a week or so for the cheque book to come in. Can only get money out in branch but can write a cheque to CASH and get there and then
    Real Men Do Cry - Even This Scotsman
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    ALIBOBSY Posts: 4,527 Forumite
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    We have 2 current accounts at the mo one with rbs and one with natwest.
    Ideally we would like to be able to transfer money from the business account to the other accounts online, but could draw cash if really the only way.

    ali x

    "Overthinking every little thing
    Acknowledge the bell you cant unring"

  • LilacPixie
    LilacPixie Posts: 8,052 Forumite
    Abbey apparently do the best business account because of low charges.

    I was under the impression that with a ltd company they asses the business rather than the directors in the main part.
    MF aim 10th December 2020 :j:eek:
    MFW 2012 no86 OP 0/2000 :D
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