Cant get a business bank account no matter what i do.

garymcc

Hi everyone my name is Gary this is my first post I'm really stuck at the moment and I just do not know what to do.
I started my business last September. And while it's genuinely been the best thing I've ever done work wise and really has been a success so far. I just cant seem to get a business bank account no matter what I do. My credit rating is not the greatest as I'm currently in a debt management plan which has really helped to sort out my finances even though I know there is still a very long way to go.
so far i have tried HSBC and they just didn't even want to know when I said I had poor credit. Barclays while they seemed more keen the answer in the end was no. Finally Natwest i applied for there foundation account which supposedly helps people with poor credit. I spoke to a lady and she did various checks for me over the phone and said that I had been accepted for an account i thought great she said all I had to do was go into the branch and take my forms of ID and a signed copy of the application form and that as soon as she has received them she will open the account that day. there was me thinking great. so took down my ID and forms and got them sent to her i waited a few days and received no phone call so i gave her a call and she said that she had not received the documents yet and also told me that she was leaving her post to take another post within the company and that someone else would be taking care of the application from now on. bearing in mind that i had been told that I had been accepted for an account i had started to accept cheques in my company name. Rather than my girlfriends name. Knowing that i would be able to put them in as soon as the account is opened. well today after nearly two weeks I've been told by the new girl that her manager wont accept me for an account. I honestly cant believe it I had told the original lady that was dealing with my account. All about my finances and even said I had been previously turned down by Barclays bank.
I cant understand it all i was asking for is a basic account that i can pay cheques into and also so I can look after my businesses taxes. I didn't want an overdraft or credit card so I don't understand why they wont accept me.
now I'm stuck with £320 worth of cheques that I cant even pay into an account.

Is there anywhere in UK that might accept me as at the minute I'm left scratching my head.

Thank you so much for any information.

Gary

DCFC79

Do HSBC, RBS, Lloyds, co op do business accounts ?

Shouldn't have accepted cheques in your name until you had it cnfirmed.

garymcc

Well I know that about the cheques now. I did ask the original lady at the bank if it was guaranteed and she said yes. All she needed was my proof of identification to open the account I cant understand why she would lie to me.

and yeah of course they do business bank acounts i doubt there's a major bank in the land that doesn't why would you ask a question like that seems strange?

DCFC79

garymcc wrote: »

and yeah of course they do business bank acounts i doubt there's a major bank in the land that doesn't why would you ask a question like that seems strange?

Because ive no idea, i dont have a busness to run. Ask the banks i mentioned.

garymcc

I'm sorry it's been a long day I just feel like I've hit a brick wall with this at the moment.

DCFC79

Might be the fact your credit rating is poor, not sure but would a basic account do ?

Other than that im not sure, someone else mgiht know what other options you could try.

Maybe it was a daft question to ask but we live and learn.

al25

Gary, I know this is not ideal, but Cash Plus (Mastercard) does business accounts, you can setup DD's SO and even deposit cheques. You will also receive a cash plus mastercard with chip and pin.

garymcc

Hi thanks for the reply I have looked at the cashplus MasterCard the only trouble is I think it's a personal account that they offer. and the cheques have my business name on them so would I be able to pay the cheques into the account?

Thank you

Dr_Cuckoo3

Open a building society business savings account to pay in your business cheques


http://www.bucksbs.co.uk/investments/product_details.asp?id=23 £100

http://www.theloughborough.co.uk/business-savings/ £10


the Bath account is mentioned in this forum - minimum opening balance is £2500 but can be reduced to £1 after the account is open

http://www.bathbuildingsociety.co.uk/business-and-professional-accounts/

Jabari wrote: »

All,
I was in a similar situation for 9 mths. and thought that Halifax would save me. They had a no status (no credit score) pass book bus. acc. but cancelled this svc in Jan/2010. I was able to find another 'bank'. that offers a similar account. - Bath Building Society. The only credit service check done is to verify identity. They open your account within 2 days. Good luck.