Account options

[DuncanH]

Hi I have a little problem, five years ago I had to go bankrupt due to some bad business I couldn't dig myself out of but since then I have started a new company (limited this time ) and all is going well so I thought I would try a little sideline selling online so I have just got back from HSBC after being declined, now I would expect this normally due to credit ratings being shot but I have been successfully running a business through them for the past four years with a healthy turnover a cheque book, overdraft and creditcard that they gave me on startup knowing my history They said there was nothing they could do to overturn the "computer says no" so I turn to you my learned friends, what banks could offer me a basic business account that I can use for online trading?

Please help as I feel all my hard work over the past four years is in vain if I can't dabble with my own money!

 

[wheeler-dealer]

the bank that keeps coming up on this forum for people with poor credit history is Barclays, im sure somone else on here might be able to confirm or deny this though.

 

[Christine Hough]

I am sure there is a new bank for businesses which guarantees they will take you. Its no frills and no credit, but simple and straightforward. I just cannot remember what it is called!

 

[Nord20]

If it's purely for online trading, try Netbanx.

 

[Christine Hough]

Found it, It was cashplus

http://www.mycashplus.co.uk/offers/cashplus/corp-del/default.aspx?pc=BUS490b

Hope this helps.

 

[Talay]

Though BR is listed on a separate file to credit records and thus is never expunged even after 6 years, the 6 year timeline is what you need to become acquainted with.

Pull your credit files from the 3 main agencies. Dates there will tell you when the 6th anniversary comes around. Doing it now also gives you the time to get any errors corrected.

If a form asks whether you have ever been BR, you will have to answer yes, as though it will fall off your credit file, the list referenced back presumably to the London Gazette is not subject to the same criterion.