Bad Credit & Business Accounts

LeeDJC

I know this is slightly off topic, so I apologise.

However, I don't have a great credit history. A number of defaults and 1 CCJ from the past still on my record. The past 18-24months shows up to date payments etc tho.

I need to open a business account shortly for a new venture. How do I stand with a poor credit history? Does it really make a difference, or do the banks judge by the merits of the business plan etc?

Thanks

TheChillPill

Business accounts are generally easier to open than personal accounts if you have bad credit, so I would suggest trying your own bank first.

Natwest are probably the most lenient though - they have a business account that comes with Solo card and cheque book that is open to pretty much everyone.

Mark7799

I would agree with the previous post. I deal with a few banks and if you're not looking to borrow money I would suggest NatWest.

PeeWee

Not strictly true in my experience, I tried to open a business account with Natwest, and I had 1 default for £600 from 3 years ago that is actualy settled.

They refused me the account, and I had to get a friend who had a good rating to "partner" me in the venture in order to get the account.