Refused Business Bank Account

dreamteam_2

Hi all,

Wondering if you would be able to help me. I applied for a business bank account with Santander. I received an email yesterday informing me my application had been rejected. In the rejection email it stated that all applications are assessed against an Experian credit report.

I ran an Experian credit report which concluded that I had a score of 999 and in the 'Excellent' category.

So why have they rejected me? I called Santander but they palmed me off and told me to contact Experian.

Can anyone help, and advise going forward. Should I go in to my local Santander branch and ask to see the branch manager?

Thanks for your help in advance.

texranger

dreamteam wrote: »

Hi all,

Wondering if you would be able to help me. I applied for a business bank account with Santander. I received an email yesterday informing me my application had been rejected. In the rejection email it stated that all applications are assessed against an Experian credit report.

I ran an Experian credit report which concluded that I had a score of 999 and in the 'Excellent' category.

So why have they rejected me? I called Santander but they palmed me off and told me to contact Experian.

Can anyone help, and advise going forward. Should I go in to my local Santander branch and ask to see the branch manager?

Thanks for your help in advance.

try another bank.

bengalknights

Try either a barclays or coop branch both generally open new business account without rigorous checks,but dont expect anything other than a basic business account.

dreamteam_2

Thanks for the response. I find it strange that I do not want credit, I just want a business account to pay money into!

Well I have had a Natwest account for a number of years so have applied for their two year free business bank account deal.

Thank you once again

Savvy_Sue

texranger wrote: »

try another bank.

and search this board for Santander to see why that advice has been given!

If you can get the NatWest account, you might want to consider moving your personal account somewhere else. Sometimes people have problems if either account runs into difficulties. But get the biz account up and running first.

pitkin2020

well it sounds like you have had a lucky escape to be fair, santander have to be one of the worst high street banks for anything. I won't even use their cashpoints lol

Premier_2

texranger wrote: »

try another bank.

Good advice, especially if it is one you can talk to a member of staff about it instead of just getting a computerised response.

I know when we started many years ago, we were with a small local building society who offered business current accounts. Despite explaining the situation before applying and being assured we would be accepted, the computerised rejection letter soon arrived. So we went back to the branch, saw the manager, he made a few phone calls, and a week later our account was up & running

Once you have a business account, after about a year or so (and assuming it is run correctly) then transferring to another bank if you want will be much easier than trying to get one from scratch

gazfocus

Be careful that your Natwest account isn't set up with the Direct Business Banking Branch as they've sold that to Santander along with all of the customers.

no_choice_now

gazfocus wrote: »

Be careful that your Natwest account isn't set up with the Direct Business Banking Branch as they've sold that to Santander along with all of the customers.

The EU forced RBS (NatWest owners) to sell it to Santander.

I don't recall voting to give the EU any rights to determine this. Do you?

This goes along with the same of all English RBS branches which are also being moved to Santander. I elected to opt-out and thus had to have my branch transferred to Edinburgh, hundreds of miles away from my home!

I don't actually need to go in to the branch any more since I can post cheques and do everything on line, but I would rather do that than have the EU dictate to me who I bank with.

I setup a relationship with RBS to bank with them and no EU diktat is going to change that. It's not even about Santander for me it's about my sovereignty and the evil EU.

Alison_B

If you are a member of the FSB, you can get free business banking with the Co-op.

hareng

I had a similar problem with Lloyds back in Feb, nothing to do with credit rating though fine and had banked with them for 32 years.
What was supposed to be 20 mins turned in to well over 2 hrs just in time for worker to pick her son up!
I feel i was rejected on a personal nature nothing to do with with ability to pay but wouldnt tell me why. Or maybe a flag on name as put in several complaints on how slow their new site was.
No wonder they are sheedding more jobs. I was going to pull the three accounts i have with them and told them so.
Mind i did start off the intervue with the attitude i was doing them a favour. Why not, thats where they make their money, i am the customer.

Organised intervue with Natwest, done and dusted 20 mins on my way home complete with IBAN and credit should i need it.
Wish i could pay cheques in by not going to a branch, theres 1 1/2hrs lost mainly due to them not turning away form fillers.