BR friendly Business Bank Accounts?

Jesca

Hi

My BR clears from my file next month and I am looking to start a LTD business.

In order to do so, I need to incorporate a LTD company AND have a "business" bank account.

I called Co-op regarding the cash minder account but that option is only for personal banking.

I have had a NatWest Current Account since 2007 after a wonderful employer helped me get it. Should I try NatWest once my BR comes off my file?

Other than that, does anyone know of any BR friendly Business Bank Accounts?

Any help is most appreciated.

Many Thanks

Jesca

MuffinTops

Hello,

I haven't ever been in BR, but I do have a bad credit history. I applied for a Natwest Foundation Account (business account for people with bad credit) and was accepted so that may be an option. Even if they avoid BR, as you've got a history with them they may overlook that?

You have to specifically go for the Foundation Account. It's online if you do a search.

I hope that helps.

tigerfeet2006

As Muffin says the Natwest Foundation account is the way to go. Several discharged BR's on the board have managed to get one.

Jesca

tigerfeet2006 wrote: »

As Muffin says the Natwest Foundation account is the way to go. Several discharged BR's on the board have managed to get one.

Hi Tigerfeet and Muffin,

That sounds great, thank you for your advice! My BR comes off my record next month so I will wait until then before I apply.

I called them today and they said it may go to their HQ for a decision but they will require my discharge certificate?! Have you heard this before?

Technically when I apply, I should just have NO credit history rather than a BR blighting my record so I am assuming I wont have to provide the certificate next month?

I don't have one anyway :-(

Thanks

Jesca

tigerfeet2006

Yes this is normal. As to whether you will need it next month it will depend whether their T&C's ask have you EVER been BR? You will always be required to say yes to this question.

As for a certificate of discharge you can email/ring your oldinsolvency office and ask of they can provide a letter of discharge for you. They may charge a fee for this, the going rate appears to be around £25ish. Or you can go to the court you went BR at and can get an official certificate for around £70, though if you are certain benefits you can get a reduction on this.

Also don't forget having a clean credit file with no credit what so ever can be just as bad as anything because there is no history of you handling credit.

Good luck with it all.

Jesca

tigerfeet2006 wrote: »

Yes this is normal. As to whether you will need it next month it will depend whether their T&C's ask have you EVER been BR? You will always be required to say yes to this question.

As for a certificate of discharge you can email/ring your oldinsolvency office and ask of they can provide a letter of discharge for you. They may charge a fee for this, the going rate appears to be around £25ish. Or you can go to the court you went BR at and can get an official certificate for around £70, though if you are certain benefits you can get a reduction on this.

Also don't forget having a clean credit file with no credit what so ever can be just as bad as anything because there is no history of you handling credit.

Good luck with it all.

Hi Tigerfeet,

thank you again for this information.

I guess I need to get a certificate from the court anyway so I will go about doing this on monday.

I suppose the big question is, do I wait until July before I make an application or, if I have to show the discharge certificate anyway, should I apply sooner and hope it will go through anyway with the BR order on my file?

If I apply now and are refused, could I try again in a month?

Not sure which is best.

Thanks

Jess

zfr

Jesca wrote: »

Hi Tigerfeet,

thank you again for this information.

I guess I need to get a certificate from the court anyway so I will go about doing this on monday.

I suppose the big question is, do I wait until July before I make an application or, if I have to show the discharge certificate anyway, should I apply sooner and hope it will go through anyway with the BR order on my file?

If I apply now and are refused, could I try again in a month?

Not sure which is best.

Thanks

Jess

Try asking for a paper application pack at a Natwest branch (if they still have them). If the question appears 'have you ever been bankrupt' on the application form, then at least you know that your BR will still need to be disclosed regardless - hence you may just want to chance it now.

If you can a wait until July, that would still be best though. I'm pretty sure Natwest will suggest you wait 6 months before re-applying if declined (or at least a few months).

It may also be worth checking all your credit files shortly after the BR drops off - just to check that it no longer appears.

Best of luck

sharan

i have a mycashplus business account. It provides me with a business account linked to a mastechard with my business name on it.

I cant fault it