New business banking

Yorkie1974

Seven years ago, my wife and I started on a debt management programme, and last summer, we finished paying everything off - we are now debt free, but have a credit record that is far from good. I've not had any CCJs, but did have a number of defaults after we started making reduced payments to lots of creditors.

I'm being made redundant at the end of the month and am planning on starting my own business. I have some capital to start it up, and a realistic business plan that shows how I'll make money, but there's a chance I might need an overdraft facility to help cashflow. I want to set up a limited company.

I've been with Santander for seven years as a personal customer and run my account perfectly - I've had an overdraft facility, but even that is paid off and used rarely, and I also have savings with Santander. Would I be better approaching Santander for my business account, as they can see I have been a good customer (hopefully offsetting my bad credit record), or should I go to a completely different bank, with whom I've never had any dealings?

pmduk

I can't say anything about Santander business banking, but the usual advice on here for people with less than perfect credit is to consider the Natwest Foundation account.

booler

I have been with Santander (or rather the A&L Commercial Bank) for 4.5 years. they are probably no worse than any other despite recently reneging on a promise of free business banking for life when they started imposing charges.