Business Bank Account Help

alpha09

Dear group,

I am a discharged bankrupt (as of Dec 08) and run a small business as a sole trader. I have been using my personal basic bank account with the Co-Operative to receive payments from clients, but now that my business is growing, it is starting to become impractical to have clients makes cheques payable to me personally and not have a cheque book to be able to payments to settle invoices.

I really need a business bank account but clearly as a result of the previous bankruptcy, this is proving troublesome. Any application I make will almost certainly be declined if a decision is automated and based on a credit score. I'm reluctant to attempt this as multiple declines on my file will surely make things harder.

Can anyone advise or recommend a solution?

Many thanks,
Matt

FinancesOfAFiveYearOld

I don't know if it's of any help but I'm in a very similar position. I'm planning on (re)joining the FSA - Federation of Small Businesses. Part of their package is a preferential-terms business banking with Her Majesty's Co-op. Since it's part of their promotional package I may have more redress if they (initially) turn me down...

At all of the best parties you get to dance with the devil.

fiveyearplan

You will have great difficulty opening a business account for a long time!
FoaFYO - I don't think the FSA will be able to help as you will still have to go through a credit check. I was a member pre BR troubles and opened an account (business) with Abbey on the recommendation of FSA because it didn't have business banking charges. I still had to go through all the credit checks though.

Any updates please let us know!

FinancesOfAFiveYearOld

Wilco!

Pre BR I had a Ltd Co and an account with Messrs Sunshine-Bottom & Co-op and all was well, it was just closed by me when I cease trading. They fell for me once, they may do so again.

It does seem rather that Her Majesty's Establishment is positively encouraging me to leave a heap of old clothing on the beach at Mablethorpe and to return as Alfonso del Amitri von Schicklesnuffler III or someone. I am sorely tempted to abandon my old ID and simply begin a new one without any documentation, background or whatever...

Hmm. My name is Alfonso und I have lost mein memory und all of mein liddle documentations... I am vishing to begin ein new life I zink I am from Lincolnshiren or der Yorkshire Plains. Where ist it dat I signen on please and thank you?