BR Friendly bank accounts

GypsyRose

Im in Scotland and sequestration Bankruptcy) was granted from 23rd September
I am fortunate to still be able to operate my property business, everything negotiated through an insolvency practitioner. However today Ive been told that my business bank accounts through Santander, which Ive had for 11 years, are being closed in 5 days! I have mortgage payments and other business payments by standing order which are now being returned unpaid despite money in the bank to pay them. Having spoken to my financial adviser it appears that noone will let me open a new business account. Santanders policy is to close accounts where insolvency is involved. So come the 1st of December mortgage payments, insurance etc will not be paid as I dont have a bank account to operate from! Tenants wont have an account to pay their rent into and Its seems that Im going to be up the proverbial creek without a paddle! Anysuggestions on howto resolve this dilemma?

tigerfeet2006

This seems to be the only way you will get a business bank account while BR or sequestered from experiance.

http://www.mycashplus.co.uk/business/

GypsyRose

Thanks Tigerfeet2006 Ill have a look at this and discuss with my adviser tomorrow.

GypsyRose

I researched Cashplus, the only adverse post I could find was regarding their terms and conditions, they are not part of the banking guarantee as they are not strictly a bank account, its a prepaid credit card with extra facilities included. I have applied and been approved for both a personal account and a business account. Im just waiting on my cards to arrive, I already have account numbers and sort code. I called them today and their customer services were very prompt to answer and answered my query immediately. Very professional and helpful.
I shall update again once I have been operating the account.

GypsyRose

I would just like to update my experience with Cashplus. Setting up regular payments is very easy on both business and personal acounts. I'm very happy with the account procedures re direct debits etc. I would recommend this account. I just wish my financial adviser had told me about it as this would have saved a lot of stress caused by the way my existing banks behaved towards my situation.