Business Bank Account - Declined

tara66_2

Hi WTFUK,

Hope you don't mind me jumping in, my OH just refused Business Acc and needs one as although only starting up he has been awarded a grant that can only be accessed with business acc. If I find a solution will keep you posted.

Rich, what is a treasury acc, does it not require a credit check?
Thanks T

WTFUK

Hi Tara, I don't mind at all and thank you.

I've been looking at business bank accounts all day and I can't focus on anything right now. I know I messed up my credit file but all I need is somewhere that allows payment via BACS or CHAPS. If a deposit account can do it...then i'd be happy with that....

I could not find any details of Halifax's Treasurer Account. I found Bank Of Scotland's one which is the same as Halifax. The thing is though they only do those accounts in Scotland.

Dixie99

http://www.halifax.co.uk/savings/treasurersaccount.asp


Halifax Treasurers Account

An account specially designed for customers managing funds for a company, club or charity.

• Tiered variable interest paid annually at rates up to 3.85% AER (on balances of £100,000+) – so the more you save, the more interest you earn
• Open an account from as little as £1
• Up to four people can use the account
• Make unlimited deposits and withdrawals in branch using a passbook
• View your Halifax Treasurers' Account online

There'll not be a credit check carried out as it's a savings account. You'll be able to open it at any local Halifax branch.

Good luck.

tara66_2

Thanks Dixie,

Will try this and let you (WTFUK) know how I get on.

T

WTFUK

Thanks Dixie will try it tomorrow and let you all know how I get on. I already have a Halifax account so I'm keeping my fingers crossed this will be easy to set up.

Thanks again

murphythespringer

Can a sole trader open one of these accounts? I'm due to start a market type stall in April & so far cannot open a business account due to adverse credit

WTFUK

I'm not too sure.....but as a sole trader you can use your current personal account.

richt71

Just to clarify...they need personal ID for the signatures on the account and company ID number (the one you get from companies house when you set-up your LTD). Be warned you may find like I did the staff aren't up on this account.

WTFUK

Thanks Rich. When I get a bit of free time I'm going to check out Halifax. Does this account accept payment via BACS/CHAPS?

Thanks again

planethurf

I'm in exactly the same situation - has anyone used one of these companies that "guarantees" to get you a business account for a fee? (between £80 and £200 from what I have seen.)

Good Luck with WTFUK! Please ensure you post your findings!

Re: Halifax Treasurers Account - You WILL need to call in to a branch as they do not deal with this over the phone. Nor will they answer any questions that you may have regarding this account!

Just found this other thread here - recommending Yorkshire Bank! :O)

http://forums.moneysavingexpert.com/showthread.html?t=284687