www.iva.co.uk

massive problem need advice
I have been paying my business money into a new account personal account set up with think banking which is a brilliant managed account highly recommended
my problem is that today they realised that i have been using a business through their personal account which i am not allowed to
so now i have no business account to pay into and my credit history will prevent me from getting a business account ......does any one know of a way round this or of a compaby that could offer me the facility of a business account i only want to pay in and use a debit card to pay out with d/d as well other than that ui have no way of receiving money through my creditcard machine which is how 95% of my customers pay ...i am a florist about to go into an iva with melanie please help im desperate

Hi
One banking do a similar account to Think banking although I am not sure about DDs.
Will your crdit card merchant pay into a personal account ?
Regards

Secure Trust Bank also have a very good product which has just been launched. As I know the directors of the bank personally, I will make some enquiries as to whether they could extend this to a small business.

Could you contact me directly to discuss this further.

hi melanie
thank you for that i have left a message for tina to call me so i can access your direct number ...i do hope they can help me ..... this is a real problem and i guess there must be hundreds like me looking for this type of facility
and andy yes one card banking is similar but again are quite hot on not allowing payments in through a merchant account and they cant do D/D yet but they are working on it thank you for your help

Watch out for the launch of the ClearCash icount which is a pre-paid MasterCard and which will be launched next week.

Will this be available to businesses David? Will it be able to deal with customers who wish to pay for items by credit or debit card?

Also David, will people be able to set up direct debits and standing orders?

Is David around to answer these questions?

MelanieGiles wrote:

Will this be available to businesses David? Will it be able to deal with customers who wish to pay for items by credit or debit card?

It is for individuals at this juncture only and dependent on how well it goes we will be looking at ways a business card could be developed.

Skippy13 wrote:

Also David, will people be able to set up direct debits and standing orders?

Standing Order payments will be able to be done but not Direct Debits as this later facility is far too expensive to be incorporated into our platform at the moment. There are ways in which regular payments can be set up and monitored though.

I've just had a look at the Secure Trust one Melanie - it looks good, especially as it does do DD's.

David, will there be a limit as to how much money can be paid across? For example, the Payplan one only allows you to load it with £2000 a month, so if your's and your partners salary is more than that you can't use it as a normal current account.

The Secure Trust prepaid current account will offer direct debit payments and has lots of other benefits. It will be available from the end of July, and I am happy to put anyone in touch with the directors of the bank who I know personally once the product has been launched.

Do you know how much the monthly fee will be and whether or not there will be a cap on how much can be paid in monthly?

The monthly fee is £12.50, and so far as I am aware there is no cap on how much can be paid in as it is a current account facility. I will check this on Tuesday when I am next in the office.

This account also gives full online and telephone banking, and there is a guaranteed acceptance with no credit checking. I think it is going to be a great product for people in financial difficulties, and it avoids the need for an additional prepaid card as this is all part of the package.

Must admit that it does sound good. The fee is certainly no higher than Thinkbanking and the benefits seem to be good.