Bad credit new business account?

Hi guys, after some advice on obtaining a bank account for my new business, I am a sole trader and need to be able to cash cheques under the company name. I have a very bad credit rating after being incredibly foolish when i was younger and have had trouble in the past simply obtaining a normal current account. Who is offering suitable accounts for me? Thanks.


  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898
    Name Dropper First Post First Anniversary
    Try a high street bank with a business centre/manager.
    You probably won't get any credit facilities.

    If you are a sole trader then you can insist on getting cheques payable to you and not the 'company' - its your business after all!
  • agsnu
    agsnu Posts: 1,457 Forumite
    If you are a sole trader then you can insist on getting cheques payable to you and not the 'company' - its your business after all!

    Many worry that this looks unprofessional.
  • missm29
    missm29 Posts: 340 Forumite
    my other half is a sole trader and even though our company name isn't his name, all our invoices state please make any cheques payable to Mr Fred Bloggs, we also give our online bank details and people are gradually starting to use that more. We were told if you are a sole trader its fine to have cheques made out to yourself rather than the company name. In 3 years only twice have people wrote them out in the company name and then they have to re-issue them, i now put it in a bold larger text. We looked at business accounts but want to avoid for as long as possible due to the fees.
  • Natwest do offer a basic business account that doesnt offer any facilities such as overdraft and other credit facilities and this should be sutible for what your looking for, also i am sure other high street banks offer the same facility however as someone else has said just pop in to a main high street branch and they should have a business manager on hand to help!
    Currently working for NatWest Retail. All posts however are my views and opinions and are not expressing the views of NatWest or the RBS Group, my posts are there to help!

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