Getting a business account with crap credit

ExitWound

I get by with a basic bank account (the type for those with crap credit history) and I'm considering working for myself and will need a business account. Are they usually easy to get? I'm not on the voting register and like I said my credit history isn't sparkling to say the least.

opinions4u

Well, in times of credit shortages, I can really see banks falling over themselves to give you a facility when they may struggle to prove where you live, but can show that you don't always pay your bills on time.

Any takers?

KILL_BILL

opinions4u wrote: »

Well, in times of credit shortages, I can really see banks falling over themselves to give you a facility when they may struggle to prove where you live, but can show that you don't always pay your bills on time.

Any takers?

yes RBOS - another one to add to their toxic debt list :T

ExitWound

opinions4u wrote: »

Well, in times of credit shortages, I can really see banks falling over themselves to give you a facility when they may struggle to prove where you live, but can show that you don't always pay your bills on time.

Any takers?

OK I didn't come on here to be judged, I was actually hoping for some useful advice, clearly I may have been aiming too high.

And btw - you are 'off the pace'.

opinions4u

ExitWound wrote: »

OK I didn't come on here to be judged, I was actually hoping for some useful advice, clearly I may have been aiming too high.

And btw - you are 'off the pace'.

Okay, apologies for that - I wasn't judging though.

You will most likely struggle.

Get yourself on the voters register and take it from there.

Good luck with your enterprise.

ExitWound

Thing is though I managed to get a 'basic' account easily enough so why not a business account? I have no interest or desire for any kind of credit or loan (the business I'm looking in to doesn't really need capital but that's a different story), just a business account to help with tax returns etc so I can use cheques to pay for business-related items and services.

Richard019

ExitWound wrote: »

Thing is though I managed to get a 'basic' account easily enough so why not a business account? I have no interest or desire for any kind of credit or loan (the business I'm looking in to doesn't really need capital but that's a different story), just a business account to help with tax returns etc so I can use cheques to pay for business-related items and services.

Do you actually need a business account for it or could you use just a 2nd Basic Account?

You haven't said what business it is you're setting up, but if there wouldn't be any liability issues you wouldn't need to register it as a Ltd company and could then just use your own accounts to do it (seek advice on the 'earning more money' forum or whatever it's called similar to that). I would still suggest having a 2nd account set up for it, but you might find it easier to get a 2nd Basic account than a dedicated business account.

ExitWound

I'd be a sole trader, and from the limited research I've done so far I'll need some sort of business account in order to make business purchases, preferably using cheques. Seems that way is easier for when it comes to sorting out tax issues.

I suppose I could get a building society and get them to make out a cheque in the name of the company I'm buying from I suppose....

chambta

Unless by poor credit you mean unsatisfied CCJs and recent defaults I think quite a few banks would give you a facility-free business account.

Richard019

ExitWound wrote: »

I'd be a sole trader, and from the limited research I've done so far I'll need some sort of business account in order to make business purchases, preferably using cheques. Seems that way is easier for when it comes to sorting out tax issues.

I suppose I could get a building society and get them to make out a cheque in the name of the company I'm buying from I suppose....

As a sole trader myself for the first few months I just used my Nationwide Current account. I'd done a lot of credit applications in a short space of time (stoozing) and was worried it would just be declined if I went straight for a business account then. As the only activity on it in that time was business related it made the book keeping easy enough.

I've got a business account now, but in all honesty I can't see how it's made any difference to how things run for me. I could just as easily have continued using the NW account. I would say so long as you only run business transactions through it and leave the profits in there until year end there's not going to be an issue in using a 2nd Basic Account if you can't get a business one.

baz29

I got a business account with natwest last year, i was told it was for customers with not brill credit rating. I think the account is called the business plus account.