I think I just opened a business bank account, whens it safe to party?

BigCraigJohn

After an issue with HSBC i'm having to take my banking elsewhere.
My credit history is not good 7 defaults and 3 arrangements on my credit history in the last 6 years. Saying that nothing in the last 4 years.
Ive put in an application with Coop for a cash minder, they seem to of lost my application in branch which is a pain but I'm sure that will come good.

I had a look at the bank groups and basically apart from hsbc I had bad history with all except Santander, figured I had nothing to lose by putting in an application for a business account. Went basic no overdrafts, loans etc.
Had an email off them yesterday with a questionnaire which I completed honestly, emailed it back then today received this.

"Thank you for choosing Santander Business Banking.

We’re pleased to let you know that your Business Current Account is now open and ready for you to use.

What’s next?

In the next 7 – 10 days we’ll send your card, card PIN, Online Banking passcode and registration number separately (for security purposes) to the home address you gave us."

Is that it?, I've been accepted?, can I have a beer to celebrate? or is there something that can go wrong from here?. Other than my credit history I have no other skeletons in my closet or anything.

I know all banks are as bad as the other but I did not expect to get a highstreet account in a million years with my credit history. I was thinking best case I get a cash minder and a pre pay. I had a large loan and Credit card with Abbey national which were paid off about 2007 so I was wondering if maybe I'm on their internal systems?

boo_star

There's a monthly fee, I assume you're aware of that?

BigCraigJohn

boo_star wrote: »

There's a monthly fee, I assume you're aware of that?

I don't think there are any free business accounts in this day in age, certainly not after the introduction period and I doubt any free account would let you run a business from the account for long.