Where can I get a business bank account from. I have just registered a limited company and Co-Op and NaWest wont have me. I have just one more month to run on my 5 year IVA. Suggestions be fab. Thanks David Henry
I think you will find it difficult to get a business account at the moment.
Hopefully one of the posters or experts can advise more later.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
You can get a business bank account. I just have, 3 years into my IVA.
Have a word with Barclays and explain your situation.
They went through a process with me of initially doing a credit check (which if course failed miserably as I am in an IVA). From there, the business accounts manager will try and build up a case for giving you a bank account.
For me, I had to provide 6 months personal bank account statements (which of course show that I am maintaining a positive amount and am managing my money), a copy of any savings (I have a contingency account as part of my IVA to save for car maintenance, contact lenses, etc) and a copy of my chairman's report for the IVA.
I also provided a copy of a spreadsheet that I use to manage my monthly outgoings.
They approved it within a week.
Good luck with getting one and I hope it works out for you as it did for me.
This is a brilliant post - I am often asked this question and I will now be keeping the Barclays shareholders in more funds. Well done Barclays, and let's hope this is a global attitude change rather than just one helpful manager in a branch.
I've also had such a nightmare trying to setup a business bank account to raise invoices to clients for my Ltd company. I have an IVA with debt under HSBC, Natwest, Halifax, and Barclays. Was turned down by santander, spoke to natwest who said even with their basic account for people like me they would still reject it as I have debt outstanding with them, and it would be the same for other banks. Found a solution and have just received confirmation that my account is open today. I opened an aco**** with Bath Building Society who just require you to fill out a form, and send them the usual ID. Had my passbook within 3 days of sending off the forms. I don't think they do a credit check. They only do a check with equifax to confirm your identity only. http://www.bathbuildingsociety.com/busi ... ounts.html
How easy is it to actually the bank? Do you need to have a branch nearby? Can you pay into and withdraw from any other banks?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
