Business account - Poor credit

wolverine75

Hi I am looking to open a business account just to get money in I don`t want any credit or special bits and bobs just a basic business account but have been turned down for having adverse credit by HSBC.

Does anyone know where I can open just a basic account to get money paid into not overdraft or cards etc just maybe internet banking .

Thanks in advance

Wolverine

LindaJane47

Have you tried Santander? Crap bank, but their business account is very basic, no overdraft, debit card and chequebook only, and is also free..... But please wait and see if anyone else has an opinion as applying for and FAILING to open a bank account can affect your credit rating further....

chrismac1

I have clients in exactly this position. Most of them use their personal accounts for business, and in fact this is the advice I give them because such clients ususally end up incurring high charges and interest on their business accounts. I suggest this only for small stuff, anyone with sales above £30k or high transaction volumes should not be doing this. The UK banking system fails at least one of my clients at least twice a month at present, I even invested in one client which was probably not strictly ethical but I was damned if I was going to see him miss out on a £20k contract just because his bank were being such prats.