Business Bank Accounts

chelsea100

Hi, with a business bank account, will I be allowed to issue as many debit cards as I please without the bank giving me a bad look? I'm a sports trader and need a lot of new cards every month when my accounts get limited. I used to do this with a personal Lloyds but had it closed because they identified my transactions as ''business orientated'', possibly they didn't like the volume of deposits I was doing and how many cards I was requesting. I have a LTD and pay taxes on my winnings, will the banks give me a bad eye for requesting a good amount of cards every month if I open a business account? Also, is it likely they refuse an account because my LTD is a few months old and my personal credit score is mid at best? Someone suggested that I should create a few different companies purely for the business bank accounts and diversify the new card issuing requests so I don't annoy the banks. On the trading forums I'm in, there's a bloke that has 39 different companies and wasn't shy to prove it with his companies-house report, wasn't sure if the purpose of all these is to simply have business bank accounts and get new cards instead of just having a single LTD and a few business bank accounts while requesting a lot more cards? Hopefully some of you lot have experience with this

jonesMUFCforever

Not sure If I understand your business - you say trader but I think gambler - am I right?
If a bank 'limits' your card ie blocks its use then they will not order any more cards for you as well as a possible ban on using even debit cards for gambling transactions.
Good luck with opening a business bank account if all you do is gamble.

chelsea100

Super uncalled for and quite ignorant. Who mentioned the world ''gambler''? You make a difference between a gambler and a pro trader? I get my accounts limited not my banks, you have some trouble with reading and comprehending info? Also, enjoy Europa League from tomorrow.

jonesMUFCforever

'I have a LTD and pay taxes on my winnings,'

That made me think you were /are gambling.
I stand by the rest of my post - you will get one card per authorised signatory on the account.

fenwick458

seems like the best place to answer this question is in your gambling trader forum, I've got no idea why you'd need more than one card?

Zanderman

chelsea100 said:

.... will I be allowed to issue as many debit cards as I please.....
......need a lot of new cards every month when my accounts get limited.....
...... they didn't like the volume of deposits I was doing and how many cards I was requesting......... 
............ diversify the new card issuing requests so I don't annoy the banks...........

Hopefully some of you lot have experience with this

Er, no. No experience of anything that requires as many debit cards as you please.
I can't even conceive of anything that needs a lot of need cards 'every month' because accounts get 'limited'.

I've no idea what you're doing ('winning' in your words but somehow not 'gambling') but I'm not surprised you're annoying your bank!  I'm astonished you've still got a bank account at all.

Bank accounts, personal or business, issue debit cards to be used over a period of years. The expiry date is the clue to what the bank expects their useful life to be.  If you're getting them blocked multiple times every month you are doing something very peculiar.

flo22

I can't think of any bank that will allow a business account for Sports Trading and offer multiple debit cards just to bypass your account being 'limited' at the bookies.  The fact that you have a Limited company is irrelevant it is a high risk business and no bank has to offer you the service you require.