Cashing a ltd company cheque

okeydokesfolks

Hi everyone,
Im an absolute noob so please bear with me! I wanted to know if anyone has had any experience with this situation...

I have been waiting on a company cheque for around 14 weeks! :eek: however, on receiving it, my business account (cashplus business) will not accept cheques... Now im a bit stuck because:

1. all the high street companies (money shop etc) only cash personal cheques.
2. I wouldnt be able to open a high street bank due to adverse credit history
3. They can not change the name on the cheque as it is an insurance payout for the company.

Any ideas??

Thanks in advance

The cheque is in the limited company name

Thrugelmir

Open an account which accepts cheques.

colsten

Apply for one of the new basic current accounts that you should be able to get despite a dreadful credit history? e.g. http://www.nationwide.co.uk/products/current-accounts/flexbasic/features-and-benefits

If this works, you might want to move all your banking to this account and close your Cashplus account.

jonesMUFCforever

colsten wrote: »

Apply for one of the new basic current accounts that you should be able to get despite a dreadful credit history? e.g. http://www.nationwide.co.uk/products/current-accounts/flexbasic/features-and-benefits

If this works, you might want to move all your banking to this account and close your Cashplus account.

That link is for a personal account - I read OP's post thinking the cheque was going to be made in the name of his business.

colsten

jonesMUFCforever wrote: »

That link is for a personal account - I read OP's post thinking the cheque was going to be made in the name of his business.

I hadn't read it like that but you might well be right. So what would be your suggestion?

agrinnall

Point 3 says " it is an insurance payout for the company" which makes me think jones is correct. If the OP can't open a business account that will accept a cheque then they may need to plead with the insurer to pay by some other means.

System

NatWest/RBS offer a foundation business account which might be available.

Otherwise, business' can get savings accounts and these should be easier to get and most will accept cheques.

Also, a few people I know, have Ltd company accounts with Cater Allen - I know that they use them for free cashless banking. Possibly that is a 3rd option?

mgdavid

talk to the insurance company and ask them to pay by bank transfer instead, after you've sent them the cheque back.

jonesMUFCforever

colsten wrote: »

I hadn't read it like that but you might well be right. So what would be your suggestion?

See post 7

isplumm

Heng_Leng wrote: »

N

Also, a few people I know, have Ltd company accounts with Cater Allen - I know that they use them for free cashless banking. Possibly that is a 3rd option?

I have a LTD business account with Cater Allen - it is only free banking if you keep a balance of £5k - unless you managed to get a deal through one of their partners like SJD.

Mark

okeydokesfolks

The insurance company is hopeless. It took them 14weeks initially to even get the cheque. Not sure I really want to send it back now unless there is absolutely no alternative.