Help With Bad Credit

[michaelinwiltshire]

I have a limited company however due to past credit have been unable to open a business bank account. I have tried everywhere the big banks etc all decline.

I have managed to open a halifax treasures account. This allows credits in but no online access or bank transfers. Its a passbook company account.

What I'm looking at is in terms of paying my contracters I need to make bank transfers. I have therefore monthly invoices could I arrange to transfer monies for all invoices in total to a personal account (not my day to day personal account a seperate untouched account) and then pass it to them by bank transfer.

thanks for your help

[amsie]

God, don't the banks make you sick? I've had this with the banks, and you tell them the reason you want to start a business is to clear your debt. Begging and pleading with the bank your currently with might help, or throwing lines such as I just need help to get me started, im a small new business, how am I supposed to compete equally etc.

The same lines can also work on trade suppliers to get credit, although not so much right now in the credit crunch.

Do your contractors really need paying by bank transfer? Would they not be able to take a cheque or bankers draft?

[dp0848]

Mike,

We have a very good relationship with one particular branch of Natwest (a friend of mine is the manager). They open limited company accounts for our clients who have adverse credit histories. You won't get an overdraft facility but you will get a basic ltd co bank account with a chequebook and online banking. I'd be happy to introduce you if this is of interest to you. Drop me a PM and we can go from there.

David.

[thebigIAM]

I've got a similar problem due to an itinerant lifestyle in recent years. If it were not for the lack of a permanent address (though I've used a care of address), I would probably say my credit file ought to be exemplary, but at the moment I'm actively trading, employing staff, have business premises and ... er ... got all this money and no bank account to put my limited company's money into.

I don't want to borrow any money from anyone. I just need to an account to be legal. What a headache.