Business Bank account for a discharged bankrupt

pamperpot

Hi Capeverde
Congratulations on starting again
I was interested to see Lloyds gave you a personal account as a bankruptee, they refused to keep me as a customer when i became backrupt in 2009 and there was only Barclays or the Co-op who would take me on, I went with the Co-op who have now changed their terms regarding bankruptees

Unfortunatley I have found Lloyds bank arent that considerate to all of us discharged bankruptees. I have set up a community interest company and despite being discharged in July 2010 I have just been told there would be no point in our company applying because of my history so other than resign as a director from a company I founded we are struggling to get an account.

'No bank account = No funding'
How can we show we manage our accounts well if we dont have one to start with?

capeverde

Lets be honest its bloody frustrating, I did write a thread about how people are treated differently post bankruptcy, but nobody responded. From my perspective its not really affected me apart from business funding, which I have basically had to do without for 3 years. Only now have I been able to get direct funding through a bank by means of overdraft, which has definitely slowed me down. Accounts from suppliers has been a different matter though and one which there has been no problem with. Understandably you arent going to get unlimited credit immediately and it will differ by sector but I use about 40k a month and its pretty much open ended, but I do now have 36 months history and Ive worked to that point. Best of luck with your project and dont give up. Theres always a solution.

arcon5

Use cashplus' service if desperate.

mike864

Hi
new to the forum & I too find myself in this position, discharged March 2016 & now Lloyds won't add me back on the business account...

I thought getting discharged was acceptable, if it's good enough in Law then surely that should be enough.

Seems the 'main high street banks' have arranged a cartel, don't give anyone in my position an account! How does that work in the 'free market?'

I have a personal account with the Co-op phoned them today & they won't touch me for 6 years - fantastic positive approach...they have no idea of my circumstances, just No.

So I would be interested to hear from anyone who has had to deal with this recently.

Regards

Mike

tigerfeet2006

The Cashplus Business Account seems to be the only option available at the moment though if I am wrong I am sure someone will correct me.

http://www.mycashplus.co.uk/business/

MoikeyDee

I found Metro Bank to be very approachable, they ask reasons for bankruptcy etc. But the business managers have the authority to override the usual computer rejection.

You don't need to make an appointment, but it is a good idea to visit a main branch when a business manager is likely to be there - just call and ask, they are that good.

They couldn't be better to deal with. Highly recommended.

The_Real_Cheddar_Bob

fiveyearplan wrote: »

You can only walk away like that provided you haven't given any personal guarantees though and most banks won't lend without it.

i went bankrupt because and only because of personal guarantees... one was a business lease!!!

The majority of new limited companies need collateral of some sort, unless you have plenty of cash, in which case you may not find yourself on here:beer:

reallystressed

Hello wok boy

My hubby was discharged from br in July 2014
And set up a ltd company in Nov 14, he couldn't get a business account with lloyds even though he used them for his personal account - in the end he opened a business account with Barclays
It was referred initially, which the lady at Barclays had told him to expect because of the br but it was accepted after referral
No credit line such as od but he didn't want credit anyway just needed an account for basic business accounting
He was honest and upfront from the beginning and applied in branch
Good luck 😊😊

DCFC79

reallystressed wrote: »

Hello wok boy

My hubby was discharged from br in July 2014
And set up a ltd company in Nov 14, he couldn't get a business account with lloyds even though he used them for his personal account - in the end he opened a business account with Barclays
It was referred initially, which the lady at Barclays had told him to expect because of the br but it was accepted after referral
No credit line such as od but he didn't want credit anyway just needed an account for basic business accounting
He was honest and upfront from the beginning and applied in branch
Good luck 😊😊

You do realive the OP started the thread way back in 2008 and I'm hoping wok boy sorted it.