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Biz Bank Account taking over 3mo's to open.
Dirrtland
Posts: 61 Forumite
Hi, Really need advice & info, This is Long, My Partner Opened a Business Bank account with TSB, sept 13th, till this day it is not up and running,
Firstly after 3 weeks We Went into the bank to get a Business Grant form stamped, 5 weeks we Contacted Chambers (Business start up company whom receiving the grant from), They Said that the grant was sent back to them from TSB stating that my Partner was Deceased :mad:, We went in to the bank Nearly every week, They Said there was a block on the account But no reason as to why, Constantly told we would be contacted by the woman whom opened the account, Jenny, (I dont know how this woman makes a living it seemed every-time we went in she was never there and she obviously doesnt do her work because even after 3 months still No Contact), then after 10 weeks a day after we go in there we were contacted by jenny via a little note, saying that the head office in Manchester needed better proof of address, because apparently a Tax letter isnt good enough, So we Gave them another, they said yes that should go through now, a week later we go in and the lady at the desk calls Manchester, they say Jenny needs to call us, well that was 4 weeks ago and still nothin,
Seems Nothing gets done until we go in an make them earn their wage, But even then its still 'We dont know why its not open, we'll get jenny to call you', nothing,
This Puts us at risk, The Terms of the grant is that we have to put in 60% of our own money into the business before we can release 40% from the grant which they give you in two halves the 2nd half you need to spend before you receive (if that makes sense) but Chambers will only accept receipts of purchase for the business upto 6 months previous, But By Time this account is open alot of what we have spent will be worthless, not counted and we will have to spend 100's more to make upto the 60% not to mention the rest of what we still have to spend including the second half worth of the grant before they reimburse which we have 3months to spend after receiving the first half of the grant from them.
We Spent 100's In June Thats Already 6months,, Money is really tight Right now as it is for alot of us.
Just Wish for advice, the chamber are no good with this kind of thing and they wont except a personal account even though the business is small, I Just feel so annoyed, As TSB provide the best online account & I dont want them to get away with wasting 3/4 Months of our Business time and risk of having to spend even more than we can afford to cover their negligence.
thank you
Firstly after 3 weeks We Went into the bank to get a Business Grant form stamped, 5 weeks we Contacted Chambers (Business start up company whom receiving the grant from), They Said that the grant was sent back to them from TSB stating that my Partner was Deceased :mad:, We went in to the bank Nearly every week, They Said there was a block on the account But no reason as to why, Constantly told we would be contacted by the woman whom opened the account, Jenny, (I dont know how this woman makes a living it seemed every-time we went in she was never there and she obviously doesnt do her work because even after 3 months still No Contact), then after 10 weeks a day after we go in there we were contacted by jenny via a little note, saying that the head office in Manchester needed better proof of address, because apparently a Tax letter isnt good enough, So we Gave them another, they said yes that should go through now, a week later we go in and the lady at the desk calls Manchester, they say Jenny needs to call us, well that was 4 weeks ago and still nothin,
Seems Nothing gets done until we go in an make them earn their wage, But even then its still 'We dont know why its not open, we'll get jenny to call you', nothing,
This Puts us at risk, The Terms of the grant is that we have to put in 60% of our own money into the business before we can release 40% from the grant which they give you in two halves the 2nd half you need to spend before you receive (if that makes sense) but Chambers will only accept receipts of purchase for the business upto 6 months previous, But By Time this account is open alot of what we have spent will be worthless, not counted and we will have to spend 100's more to make upto the 60% not to mention the rest of what we still have to spend including the second half worth of the grant before they reimburse which we have 3months to spend after receiving the first half of the grant from them.
We Spent 100's In June Thats Already 6months,, Money is really tight Right now as it is for alot of us.
Just Wish for advice, the chamber are no good with this kind of thing and they wont except a personal account even though the business is small, I Just feel so annoyed, As TSB provide the best online account & I dont want them to get away with wasting 3/4 Months of our Business time and risk of having to spend even more than we can afford to cover their negligence.
thank you
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Comments
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Open a business account elsewhere?0
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you obviously didnt read the last part of my threadjonesMUFCforever wrote: »Open a business account elsewhere?
' I Just feel so annoyed, As TSB provide the best online account & I dont want them to get away with wasting 3/4 Months of our Business time and risk of having to spend even more than we can afford to cover their negligence.' 0 -
Rubbish what use is their internet service if they can't activate your account.0
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Who doesnt open their account before starting the business anyway. Another person jumping in head first.
Theres good reason a personal account isnt enough.
Banks arent really interested in small businesses. Jenny will be spending time on the big relationships that earn her and the bank money.
I am afraid you either wait or go elsewhere.0 -
Going to Contact my CAB, Tomorrow, Would I still have grounds to make a complaint even after I Close the tsb account?, Just So Annoyed at the thought they can get away with wasting this much time, just because we aint earning big bucks, Plus Getting away with claiming my partner was deceased & no explanation as too why any of this has happened.
Going to go with Barclays.
We had alot of trouble to begin with, they wouldnt accept I.D card as i.d to open the account so then we had to apply & wait 7/8 weeks for my partners Passport, to come through to use as I.D & Jenny knew this as she even pointed out when we finally started the paper work to open the account,
We had to open the account & claim as self employed as it was part of the New Deal Program we went through, Would have been nice to have been care free took our time to start the business rolling before having to worry about accounts etc, but we & our child needed Financial Support in order to live, in order to try & Better our lives, so we had to obviously claim self-employed, we didnt have the luxury of not worrying about money. THANK YOU we didnt Jump in!!,Who doesnt open their account before starting the business anyway. Another person jumping in head first.
I have never read of anyone's account taking longer than 3 weeks to open, especially when my partner has no bad credit history etc. So It couldn't have been something We could have predicted.
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I Just feel so annoyed, As TSB provide the best online account & I dont want them to get away with wasting 3/4 Months of our Business time and risk of having to spend even more than we can afford to cover their negligence.
thank you
Are you hoping for financial compensation on this matter ?
We had alot of trouble to begin with, they wouldnt accept I.D card as i.d to open the account so then we had to apply & wait 7/8 weeks for my partners Passport, to come through to use as I.D & Jenny knew this as she even pointed out when we finally started the paper work to open the account,
Any bank needs firm & verified ID from all prospective new customers...the banking laws state that they must `know their customers` & ID verification is absolutely paramount as the Bank can be asked to provide proof by the Ombudsman.
Sadly the delay appears to be of your own making so I don`t feel that a complaint would be very fair on the Bank....who are actually just following the ID process.
I have known business accounts take quite a while to open & usually its the ID that holds up the process.0 -
No Compensation Just Acknowledgment & proof to the Chambers that its TSB'S Negligence for the delay in opening the account in order to receive the grant and give them the receipts of purchase in order to release the rest of the grant.Sadly the delay appears to be of your own making so I don`t feel that a complaint would be very fair on the Bank....who are actually just following the ID process.
You Have quite Clearly Missed the point, The I.D Situation was sorted before we finally were allowed to open the account!, We Originally went to open the account in JUN/JULY, They wouldn't accept the 'PICTURE IDENTIFICATION CARD', So we went home & applied for the passport, We went back into TSB in Sept We did the paperwork as we had provided everything they needed i.e, I.D passport, Proof of address (TAX CREDITS LETTER) etc.
From then it has been solely TSB at Fault!!!! as we obviously provided them with everything, they where the ones at 3/5 weeks whom sent back our business grant to the Chamber claiming my partner was deceased, They couldn't explain this, then weeks later no change!, still hold on account!, 10 weeks, we go an complain, they still cant explain & funnily enough the next day we receive a little note from jenny stating they need extra proof of address, the lady in the branch was even taken aback by the length of time & why a tax letter wasn't solely enough proof. We have been on their cases pretty much every week since.
So Do you still think we are at fault??0 -
I hope it is not out of the LTSB frying pan and into the Barclays fire. I had a 3 week delay trying to open an account with Barclays.
I applied on line for an account with RBS and it was up and running within 5 working days. Bonus was, I did not have to waste my time going into a branch."A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
Ride hard or stay home :iloveyou:0 -
MrRedundant wrote: »Who doesnt open their account before starting the business anyway. Another person jumping in head first.
So how exactly does one open an account for an Ltd. before they have incorporated it?0 -
So Do you still think we are at fault??
Whether it's your fault or not is largely irrelevant; the fact of the matter is that you still do not have an account.
Being pragmatic, you need to ask yourself the serious question of "is it likely Lloyds TSB are going to sort this out"
You could try writing to your MP for assistance, perhaps threaten going to the local rag, or you can find a different bank... it's a case of which you think is more likely to get results for you the fastest.0
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