Can Barclays Close my Business Account?

lb15_2

I have had my limited company business account since 1999. I was doing fine until last year, when I became a stay at home mum. At the same time, my business was not doing so well. It's only now that I have started to trade again, but now my Business Banker wrote me a letter informing me that in 30 days time, my business account will be closed. In this current climate, I know it will be very hard for me to set up a new account, especially with my credit score not the best. Can I appeal against the closure? And how do I go about getting a new business account in my situation? Help someone!!

Kilty_2

Call them and speak to your named contact.

If they're refusing to play ball - see if Lloyds TSB will give you an account (see my other thread posted earlier )

They gave me one when not many other banks would (I'm under 18) and are now sending me a business debit card for it after a few months.

BlightyAndy

Kilty wrote: »

Call them and speak to your named contact.

If they're refusing to play ball - see if Lloyds TSB will give you an account (see my other thread posted earlier )

They gave me one when not many other banks would (I'm under 18) and are now sending me a business debit card for it after a few months.

I didn't know under 18's could have business accounts? I'm 13 and dream one day i will own a nice little cafe or newsagent.

jonesMUFCforever

lb15 wrote: »

I have had my limited company business account since 1999. I was doing fine until last year, when I became a stay at home mum. At the same time, my business was not doing so well. It's only now that I have started to trade again, but now my Business Banker wrote me a letter informing me that in 30 days time, my business account will be closed. In this current climate, I know it will be very hard for me to set up a new account, especially with my credit score not the best. Can I appeal against the closure? And how do I go about getting a new business account in my situation? Help someone!!

Yes they can. It's in the terms and conditions - they give you 30 days notice of closure.
Are you sure that you have fully advised us of the situation though?
I cannot imagine any bank wanting to lose an account unless it has been troublesome and a lot of items returned unpaid.