I need to get a business bank account to run my business from but as I am in an IVA I keep getting rejected for them. Does anyone have any suggestions of a way I can open a business account?
'Cash Plus' (google them), do a card-based business bank account for IVA customers. Fees look very reasonable as well.
Only downside is that they do not accept good old-fashioned 'cheque' payments. If this is an issue, make your company name the same as your name, and pay in cheques to your personal account.
Also there are a handful of companies who will (for a fee no doubt), specialize in assisting those of us with a scarred credit file, set up business bank accounts, as well as offering a range of other accountancy services: 'Foerster Formations' and 'EAC Business Services' are 2 that I am aware of, but I have not used them personally. (Any one else heard good/bad things about these firms, or other similar?).
My opinions are just that: Based on my experience and being a self-employed IVA customer.
we're having the same problem now. We've opened personal account with co-op but we dont have a branch local to us so wanted a business account with one of the banks in town so we could pay cheques in without spending £10 on petrol. this left just natwest who have started the process but are now asking my wife to provide a credit report?? this will obviously show some issues. so now we're pretty stuck
