A & L Commercial account refusal

gt94sss2

superscaper wrote:

Doesn't really solve the problem if they refuse as well, in fact it would make the credit rating even worse. For her particular business she decided that A & L was best, but it still applies to any bank, what can she do if she's not on the electoral roll?

I believe that unlike A&L, most banks won't turn you down for a business account as long as you can show your previous banking history is satisfactory (i.e. the electoral role is really irrelevant when talking about business accounts and not personal accounts)

Regards
Sunil

peter999

superscaper wrote:

...If we found another bank would it be likely we'd run into the exact same problem, especially if they check experian and see A&L refused account.

No, different banks have different criteria.

A&L used to be a building society.
I would try a real bank.

You seem to be having a lot of problems dealing with A&L, that's usually a warning sign.
I would not ignore warning signals & go elsewhere, where they try to HELP you.

peter999

A-Wing

If she changed the business into a limited liability company it would then be a separate legal entity and they can't use her credit score for it (as far as I am aware).
It isn't hard to become a Ltd. but it involves a little more paperwork.

superscaper

A-Wing wrote:

If she changed the business into a limited liability company it would then be a separate legal entity and they can't use her credit score for it (as far as I am aware).
It isn't hard to become a Ltd. but it involves a little more paperwork.

It IS a limited company.

A-Wing

superscaper wrote:

It IS a limited company.

Then surely there is something very wrong there. The company will be a legal entity of the UK, the directors nationalities should have nothing to do with it.

Try contacting the Financial Ombudsman to see if they can help.

superscaper

A-Wing wrote:

Then surely there is something very wrong there. The company will be a legal entity of the UK, the directors nationalities should have nothing to do with it.

Try contacting the Financial Ombudsman to see if they can help.

Thanks will look into it, definitely worth considering no matter which bank we go for.

A-Wing

Our council has a government run business centre, they have experts in every field of business to give you help with any factor of it, and best of all its free (after all the better your business does the more tax they get!). I'm pretty sure many other councils have the same, it might be worth looking into that too.

mrbnewc1

If you want to find out the real reason behind A&L's refusal....might it help to request copies of your mother's record (including their assessment of her application) under the Data Protection Act?

I'm sure someone else can shed some light on that....

superscaper

mrbnewc1 wrote:

If you want to find out the real reason behind A&L's refusal....might it help to request copies of your mother's record (including their assessment of her application) under the Data Protection Act?

I'm sure someone else can shed some light on that....

Looking at experian's credit report it's (electoral roll data) the only thing it could be and the people at A&L call centre say that must be the reason as well. There couldn't be any other legitimate reason that we can think of. But may be worth looking into especially if they refuse to offer any advice on what they require to become acceptable.

regularsaver1

Why is someone mentioning the ombudsman - you can only go to the ombudsman when you have exhausted the full complaints procedure of the bank

no bank has to accept a customer - its their decision - so I don't think the ombudsman will deal with it