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Santander Next Bank to fail ??!!
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Lotus-eater wrote: »When was this? Is there something you aren't telling us here? I've never heard of Abbey turning down a business account before. You did say you are overdrawn in your personal account in your other post, would this affect it?
No, not at that time - circumstances have changed now and we have just moved and have had to do the new house up, I've only just started trading again after nearly a year off.
I was running business and personal together, I had about 10k in my personal account but I was dipping into it and that was not an effective way to run a business. They turned me down and the next week I went to Barclays and I'd turned over £2.9k in a week so they were happy to have me on board. I was trading just half the month as I did not need to work.
I called into Abbey and they gace me an appointment with the person who deals with business banking and a form. I went in suited and booted and the lady took the form from me and said 'thanks we'll be in touch'. I said 'Oh, OK thanks'. That was it. I chose them as I banked with them, they could see how much was going through my account, and I had a 4k overdraft on the account because of the amount of money going through. I got a letter telling me no a few days later.
Their loss I guess, clearly do not need my business. I do not buy anything I do not have cash for with the business and deliberately chose not to have an overdraft or credit cards as if something happens and I cannot trade then I'll be left owing money I do not have.0 -
BiggaThanBen wrote: »I do not get this example, you've tried to get a current account, not loan, how can it demonstrate that they have strict lending criteria ? :-/
OK, I used the wrong word, I should have said who they give accounts to - which in turn could mean lending to. They gave me a 4k overdraft on my personal account on account of the money going through the account but would not give me a business account.
No worries now though, I am happy with Barclays. 0 -
Are the santander owned banks fully covered, or is it a spanish passport scheme?
ThanksI'm a retired employment solicitor. Hopefully some of my comments might be useful, but they are only my opinion and not intended as legal advice.0 -
See the article & table on this site http://www.moneysavingexpert.com/savings/safe-savings#whatcountszzzLazyDaisy wrote: »Are the santander owned banks fully covered, or is it a spanish passport scheme?0
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