Business Bank Account Age

[studentbusiness]

My self and my business partner are both directors of a Limited Company (England). I am age 16 and he is 19. We are about to open a bank account, is there a minimum age requirement? Would we both be able to be named on the account and have debit cards?
We do not require any type of credit, mortgage or overdraft facility. We just literally need a business current account.

Thanks.

 

[QuickHomeBuyers]

My self and my business partner are both directors of a Limited Company (England). I am age 16 and he is 19. We are about to open a bank account, is there a minimum age requirement? Would we both be able to be named on the account and have debit cards?
We do not require any type of credit, mortgage or overdraft facility. We just literally need a business current account.

Thanks.

Dont think under 18 can actually have a debit card but you can always try. You can always chose a ATM card and your partner can have a debit?

 

[Esk247]

From a few years ago, it was 16 for a bank account and you can have a debit card but it's limited e.g. like a Solo where you couldn't pay for hotels or cars or petrol or anything, just every day things and it had a £300 limit on it.

From 18 upwards you get offered credit cards with £500 on and debit cards with £1000 available to use without having to phone 'em up.

Thats how it worked for me anyway.

 

[elaine@cheapaccounting]

Have you asked the banks?

 

[MyAccountantOnline]

My self and my business partner are both directors of a Limited Company (England). I am age 16 and he is 19. We are about to open a bank account, is there a minimum age requirement? Would we both be able to be named on the account and have debit cards?
We do not require any type of credit, mortgage or overdraft facility. We just literally need a business current account.

Thanks.

I was actually chatting to a friend of mine last week about this, as I have a client in a similar position, he's a manager for HSBC. He told me for business accounts the account holder needs to be atleast 18. That's not to say that all of the banks are the same. He did add that they can 'get around it' for most cases with a parents signature etc.

Good luck with the new venture

 

[mattyatty1204]

My self and my business partner are both directors of a Limited Company (England). I am age 16 and he is 19. We are about to open a bank account, is there a minimum age requirement? Would we both be able to be named on the account and have debit cards?
We do not require any type of credit, mortgage or overdraft facility. We just literally need a business current account.

Thanks.

[FONT='Verdana','sans-serif']Hello, if your just after a basic debit card then it certainly can be done! I know for a fact that Barclays can help you as I was fifteen when I set out with a friend in business. He was over eighteen so he could apply for a credit card as well as overdraft facilities etc. The credit was really in his name but belonged to the business.[/FONT]
[FONT='Verdana','sans-serif'] [/FONT]
[FONT='Verdana','sans-serif']I simply got a VISA debit card with a £1000 daily cap as well as a cheque book that I could use with no daily limit providing funds were available. [/FONT]

What line of work is your business going to be in out of interest? Also, if you want any help or info just ask!