Refused Business Bank Account

paulwf

HSBC also worth a try, just make sure you get to see a human in your local branch to avoid the "computer says no" scenario. Nice thing with HSBC is they didn't take a government bail out so can just get on with things and aren't merging/selling off/restructuring various parts (as far as I know anyway). In fact my local business division is expanding.

smartiedriver_2

paulwf wrote: »

HSBC also worth a try, just make sure you get to see a human in your local branch to avoid the "computer says no" scenario. Nice thing with HSBC is they didn't take a government bail out so can just get on with things and aren't merging/selling off/restructuring various parts (as far as I know anyway). In fact my local business division is expanding.

There's a lot to be said for no Government intervention!

purplephoenix85

dreamteam wrote: »

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

Hiya! I just wanted to add my penny's worth, if I may.
Sometimes being 'Excellent' might make people and businesses believe that they're the ideal customers as they won't have any trouble or run up charges and interest - but that goes against the modern banking principle. Even if they're not providing a credit service, banks will be charging you somewhere along the line for the services they do provide to customers and their aim is simple: to make money from them.

Even if you were a 100% perfect customer, never defaulted a payment on a or had a bounced cheque, you still might be declined. The bank might not see you as being profitable enough. For their profits I mean, not yours. Banks like a little bit of risk - not people who will lose them a lot of money, but those lower risk people who have tripped up once or twice in the past and landed themselves a bank charge or two - it's easy money for playing a waiting game.

Even free business bank accounts will have some sort of charges attached, as you don't get anything in this world for free. If your credit report is accurate, it's highly unlikely any bank would say "we don't want you because you're just too squeaky clean for us" so the buck will be passed. I wouldn't take rejections too personally, pick another bank because at the end of the day it's their loss and not yours!

cafe-bisou

I know someone who was refused for a Santander account for no apparent reason. They sent in a letter of appeal and received their new bank account details within a week. Worth a try!