Cant Open a Business Bank Account

xlnc99

Is there anyway i can open a business bank account with a tier 1 bank?

It has to be one of the big boys not a small bank or a monza, starlinge etc

Ive looked online and HSBC, HALIFAX etc are not accepting applications 

This is quite urgent

Grumpy_chap

Many of the banks are overwhelmed at the moment because of BBLS and don't have the capacity to keep up.  It's likely to get easier in about 6 weeks.

xlnc99

Yes, i figured as much. It is killing me, i need an account ASAP and it has to be one of the big boys for business/clientele reasons.

Its pretty unfortunate timing for me

nick74

How about opening an account with someone like Starling in the interim, then move to a mainstream bank once they are accepting applications again? Starling opened an account for my limited company within 2 days a couple of weeks ago. Do your clients really care who you bank with? (genuine question).

lr1277

I think Barclays are still opening accounts (based on looking at their website last night), but they do say the process will take longer than usual.
I think Cater Allen are also opening accounts if they meet your needs. However you need to be introduced to them by a registered financial intermediary. Also their application form seemed quite involved.

Yahoo_Mail

xlnc99 said:

Is there anyway i can open a business bank account with a tier 1 bank?

It has to be one of the big boys not a small bank or a monza, starlinge etc

Ive looked online and HSBC, HALIFAX etc are not accepting applications 

This is quite urgent

With your history, why would anyone want to give you an account?

You see, eventually running away from your debts comes back to bite you on the !!!!!!.

xlnc99

nick74 said:

How about opening an account with someone like Starling in the interim, then move to a mainstream bank once they are accepting applications again? Starling opened an account for my limited company within 2 days a couple of weeks ago. Do your clients really care who you bank with? (genuine question).

No can do. They have too be tier 1 banks, not my choice, clientele. Wont money only to be transferred to the mainstream banks with certain conditions, otherwise would have used Starling etc for the meanwhile.

It really does suck because this is effecting business now. Hands are literally tied until i can get a bank account. Doesnt matter what tier 1 bank, anyone would do but seems all are stopping applications.

Tried the HSBC app, kinetic but got rejected for a bizzare reason. Said something about not verifying details - i think its teething problems with the app due to it being new

xlnc99

lr1277 said:

I think Barclays are still opening accounts (based on looking at their website last night), but they do say the process will take longer than usual.
I think Cater Allen are also opening accounts if they meet your needs. However you need to be introduced to them by a registered financial intermediary. Also their application form seemed quite involved.

Thanks - tried Barclays a few days ago got the no new application message. Will try them again maybe its changed.
Cater Allen? Never heard of them, are they big? Tier 1?

xlnc99

Yahoo_Mail said:

xlnc99 said:

Is there anyway i can open a business bank account with a tier 1 bank?

It has to be one of the big boys not a small bank or a monza, starlinge etc

Ive looked online and HSBC, HALIFAX etc are not accepting applications 

This is quite urgent

With your history, why would anyone want to give you an account?

You see, eventually running away from your debts comes back to bite you on the !!!!!!.

Great Advice!

lr1277

xlnc99 said:

lr1277 said:

I think Barclays are still opening accounts (based on looking at their website last night), but they do say the process will take longer than usual.
I think Cater Allen are also opening accounts if they meet your needs. However you need to be introduced to them by a registered financial intermediary. Also their application form seemed quite involved.

Thanks - tried Barclays a few days ago got the no new application message. Will try them again maybe its changed.
Cater Allen? Never heard of them, are they big? Tier 1?

I looked up tier 1 banks. According to the statista website, you may limited to HSBC, Barclays, Lloyds and Nat West. Banco Santander is also on the list. They own Santander who own Cater Allen. I don’t know if tier 1 is for individual banks or the whole group. If the latter, you could give Cater Allen a try.
I have never banked with Cater Allen, but 15 years ago they advertised themselves as a private bank for rich people. Now they also do business banking. No branches so if you want to pay in money, I don’t know how easy that would be. But 30 transactions a month before they charge fees IIRC. Also IIRC, last weekend, another forum user had a problem after their IT system was upgraded.
Like I said I have never been a customer, but suggesting it as a possibility.
N.B. the statista website said RBS, but that was back from May. In the last 2 months they changed their name to Nat West.

nick74

What exactly do they consider to be a 'tier 1' bank? There does not appear to be any official definition of this in the UK. Perhaps get some clarity on what they actually mean by this. Are they an overseas customer?