Getting a Business bank account

b-man

I went bankrupt a few years back both with a limited company and personally, and am discharged now.

I have a couple of questions that I would be interested in the boards input on.

1. Yesterday whilst enquiring at a bank, Natwest, they mentioned that I wouldnt be able to get a regular bank account for as long as bankruptcy was on my credit history, for 8 years. I thought that it was 6 years - has this changed recently or has the guy just got his facts wrong?

2. Is it possible to trade as a limited company again and if so, has anyone who has been in the same position managed to get a business bank account?

many thanks,

b-man

mysterio_2

b-man wrote: »

I went bankrupt a few years back both with a limited company and personally, and am discharged now.

I have a couple of questions that I would be interested in the boards input on.

1. Yesterday whilst enquiring at a bank, Natwest, they mentioned that I wouldnt be able to get a regular bank account for as long as bankruptcy was on my credit history, for 8 years. I thought that it was 6 years - has this changed recently or has the guy just got his facts wrong? Hmm fraid so.....far as i'm aware its 6yrs always has been

2. Is it possible to trade as a limited company again and if so, has anyone who has been in the same position managed to get a business bank account? business accounts are pretty rare while BR shows on credit files...the odd one or two run another basic account alongside

many thanks,

b-man

a few thoughts

JustinCredibleGillespie

Natwest had an account called a 'Step' account. Although I'm unsure of whether they still run it. Have a look online.

JCG

xx

tigerfeet2006

Natwest do a business account especially for those with poor credit. Think it's called the Freedom account. Will post link when I am on my laptop and not the phone.

mysterio_2

JustinCredibleGillespie wrote: »

Natwest had an account called a 'Step' account. Although I'm unsure of whether they still run it. Have a look online.

JCG

xx

STEP is a basic account..NOT a business one & knowing natwest if you did start to use it for business use they'd shut it in a heartbeat

mysterio_2

tigerfeet2006 wrote: »

Natwest do a business account especially for those with poor credit. Think it's called the Freedom account. Will post link when I am on my laptop and not the phone.

http://www.natwest.com/business/products/business-current-accounts.ashx

(cant see the freedom account probably using an assumed name or withdrawn?)

mysterio_2

OP when you say bankruptcy was " a few years ago" how many?? if its less than six 6ys then try & apply for accounts IN BRANCH rather than online etc 9 times out of ten you'll be refused but in person banks can process by hand........if its over 6yrs since then unless your asked the question "have you ever been bankrupt" you should be ok

UpToMyNeckInIt

If you have no luck on the high street, try 'CashPlus' business account £30 annual fee though.

capeverde

I have a full business account for my limited company which I am sole director of. Also have full current account, both with debit cards and cheque book. These are with Lloyds and Ive been discharged 18 months now. Had them probably a year ish. My personal account was approved by the bank computer and opened immediately.

tigerfeet2006

mysterio wrote: »

http://www.natwest.com/business/products/business-current-accounts.ashx

(cant see the freedom account probably using an assumed name or withdrawn?)

Thanks for the link, it was the Foundation account. Swiss cheese brain again.

I agree, go into the branch and apply that's how everyone on here who has applied and got it have done it.