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New Business Bank Account Problem
rammy1964
Posts: 2 Newbie
Hi,
I am wondering if anyone can help me out here.
I have recently set up a new company where I am the only Director / Shareholder & I applied to open a new business account at HSBC, since that is where I bank personally. The application was denied, seemingly due to my poor credit record (I have 2 aged credit card defaults).
My application made no request for any facilities whatsoever, as I shouldn't need any, simply a debit card to use for outgoing payments, much as I use for my personal banking. I expect to operate in credit at all times as I now do with my personal banking.
It seems to me that HSBC's refusal is tantamount to saying I am not allowed to be in business for myself anymore, because I have a poor record from 4 years ago. Can anyone tell me if this reason for refusal is common practice and if so, how is someone such as me supposed to ever set up in business if they are not allowed to open a business bank account?
Thank you in anticipation.
Rammy1964
I am wondering if anyone can help me out here.
I have recently set up a new company where I am the only Director / Shareholder & I applied to open a new business account at HSBC, since that is where I bank personally. The application was denied, seemingly due to my poor credit record (I have 2 aged credit card defaults).
My application made no request for any facilities whatsoever, as I shouldn't need any, simply a debit card to use for outgoing payments, much as I use for my personal banking. I expect to operate in credit at all times as I now do with my personal banking.
It seems to me that HSBC's refusal is tantamount to saying I am not allowed to be in business for myself anymore, because I have a poor record from 4 years ago. Can anyone tell me if this reason for refusal is common practice and if so, how is someone such as me supposed to ever set up in business if they are not allowed to open a business bank account?
Thank you in anticipation.
Rammy1964
0
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