opening a business bank account

Sparky15

Why oh why is it so difficult to open up a business account?
The business itself has been approved by the FCA including all the trustees and yet the banks including the new" online" bankers have all said no or it will take up to 12 weeks... really!!!!! How very frustrating and it makes my blood boil to why banks are so flippant, and the computer says no.  I am baffled, we have a new confirmed customer base with income forecast of £1.75 m even with the impact of covid19, and yet the banks are so slow to react saying they have been overwhelmed with new business applications.
High street banks- up to 12 weeks.
Micro bank accounts, well they say no even though the business has been registered at companies house and as I say the FCA has confirmed the business. We do not require any overdraft facility or loan facility, but it has excellent cash flow from day one but still no joy.  Has anyone else experienced this problem ????     

jonesMUFCforever

Yes - everybody that has tried to open a new business bank accounts when Government loans were made available to business customers - and tens of thousands found that operating business turnover through a personal account was not a good idea, then throw in the fact that a heck of a lot of bank staff have not been able to work in their offices for a long time.
At least you have a timeframe of 12 weeks - back in March it was a total no - we are not opening business accounts at the moment.