LTD Company Bank Account

[Maxamus]

i've got a really bad credit history. Had 3 CCJ's in the past which have resulted in my not getting any form of credit whatsoever (which is good as its kept me out of debt).

But this didnt bother HSBC and i opened a business account within 30minutes. This might be due to me personally banking with them for a dozen years now...........turned me down for a 2nd current account 2 weeks before that though... Good news is that my credit history will be wiped clean come july as 6yrs will be up

[edinlad]

I too have a personal a/c with HSBC fro 8/9 yrs. They opened my business a/c straight away with no credit facility.

It actually took them 2 days !!!

Im not in good favour with my Bank of late so i dont see them helping to be honest.

[PAG]

I too have a personal a/c with HSBC fro 8/9 yrs. They opened my business a/c straight away with no credit facility.

It actually took them 2 days !!!

[Spacecadet]

I went to HSBC as they have free business banking, i know that my credit is still a bit crappy from the time i was unemployed before contracting, however as I've been with HSBC as a personal customer for 10 years they just pushed it straight through with no credit facility.

[oraclesmith]

Cool cheers I emailed the '[email protected] about Cater Allen asking if they did non status stuff. Natwest used to always be a good bet but as you said they have changed their policy, has anyone used any of these formation companies services of guaranteed bank accounts or nominee services

XLMonkey has a very good point. When I went to Natwest to set up a company bank account the bank staff appeared very nervous about the nature of my business as they were used to small businesses coming to them with business plans etc and needing to borrow money from the outset. When I made it very clear that I didn't need a loan, they started being much nicer.

I think it's because the bank staff must take some responsibility if something goes wrong - eg. if an account they approved loans money and does a runner or launders money through their account. I guess if they haven't followed the right procedure they're in the poo, which makes them risk-averse.

PS. If you join the FSB, you get access to free-for-life Co-Op banking, with interest on your current account.

[dotnetter]

lol would seem so.

But nah just saying I used them and they was pretty good.

[edinlad]

I have personal adverse credit too from the past, and this stops me from opening up bank accounts.

However, I applied through contractor uk for the Cater Allen account and they accommodated me fine, and I'm very happy with using them so far.

I also used contractor uk to form my limited company and the process was very straight forward and painless, and also the cheapest way of doing it I found.

You on commission?

[dotnetter]

I have personal adverse credit too from the past, and this stops me from opening up bank accounts.

However, I applied through contractor uk for the Cater Allen account and they accommodated me fine, and I'm very happy with using them so far.

I also used contractor uk to form my limited company and the process was very straight forward and painless, and also the cheapest way of doing it I found.

[edinlad]

Most of the high street banks have tightened up their credit scoring systems in the last year or so, so it isn't that easy (or quick) to get a company bank account set up.

You might have more luck trying to open one that your accountant has a relationship with, or one that specialises in accounts for contracting businesses (e.g. Cater Allen). The key is ensuring that they understand that you don't require any form of credit facility, and you aren't expecting to need one in the life of the account.

Cool cheers I emailed the '[email protected] about Cater Allen asking if they did non status stuff. Natwest used to always be a good bet but as you said they have changed their policy, has anyone used any of these formation companies services of guaranteed bank accounts or nominee services

[XLMonkey]

Most of the high street banks have tightened up their credit scoring systems in the last year or so, so it isn't that easy (or quick) to get a company bank account set up.

You might have more luck trying to open one that your accountant has a relationship with, or one that specialises in accounts for contracting businesses (e.g. Cater Allen). The key is ensuring that they understand that you don't require any form of credit facility, and you aren't expecting to need one in the life of the account.

[edinlad]

Hi guys need a bit help with the above. recently set up a LTD company and applied for a Bank account with natwest but was refused on the baisis of the credit scoring.

Has anyone elses had this problem??????

Anyone got any ideas of how to get around it???

Ive got a forutune outstanding in invoices that i cant submit until i have a bank account