Business account declined

Hi people

Looking for some much needed help.

I have been receiveing payments via Paypal/Nochex happily for some time.

These payments got paid directly into a current account I was using for my business dealings.

Now my business has grown conciderably I need a proper Business account and merchant account for processing credit/debit cards.

I applied for a Business account with Nat West and got declined. I have some adverse credit history stemming back to a messy relationship with an ex-girlfriend. Basically we had joint accounts etc, she ran up debts in both our names and did a moon light flit.

Anyway, I digress

I need credit card processing with a business/merchant account. Who should I approach and who can help ?

I have seen lots of companies offering this service but none I would trust without some feedback from customers etc.

A lot of the fee's were daylight robbery too although Paypal are not exactly cheap.

So who would you recommend ? Any providers I should steer clear of ?

Any info/advice will be recieved with thanks,

m4tty1

 

[TIL]

I have found that Alliance & Leicester have served me well with no real problems, you can make payments via the Post Office. That is very convenient for me as they are easier to find than the branches themselves.

 

m4tty1
although not the cheapest option, but certainly pretty good and will get you set up quickly is Worldpay, they do a Worldpay Junior account which resolves the issue of having to have a merchant account and business account and you can then just get them to pay the money into an ordinary bank account instead.

The post office also do bank accounts for people with adverse credit history if you need to get a separate account for your business banking.

Once you've had chance to establish some clean banking history then you can go back to high street banks and look at getting them to reassess things.

 

[Christiane]

Maybe try Abbey business banking. If you don't ask for overdraft, etc., it's pretty straight forward.

 

[modeltrains4u]

I would go for Paypal virtual payments pro... I use it and works well for me, infact I still can't find a cheaper merchant and allows payment through website or you can take over the phone or in a shop and use there virtual payment website to take payments... I also thin Alliance & Leicester would be a good bet.

Best of look
Modeltrains4u

 

[Amaury Architectural]

I went to Lloyds TSB for Hedgehog Toys sole trader account and my credit history was worse then Billy the Kids's. The best way is not to apply on line or by post but ring them up or go into the branch and speak to the business manager directly. This allows you to gain the trut of the bank and they can bypass your credit report.

 

[asonda]

Alliance and Leicester are wonderful! I've not had any problems...but then, I don't have any history.

 

[Gillie]

I went to Lloyds TSB for Hedgehog Toys sole trader account and my credit history was worse then Billy the Kids's. The best way is not to apply on line or by post but ring them up or go into the branch and speak to the business manager directly. This allows you to gain the trut of the bank and they can bypass your credit report.

Yes I agree, go speak to them direct and dont use the on line facilities!!

 

[Oakesly]

Hi. I went with PayPal Website Payments Pro which allows me to accept debit and credit card payments on my website without the customer having to sign up to a PayPal account (in fact the customer doesn't even become aware that PayPal are the payment gateway for cards). There is no set up fee as with a lot of the other Merchant accounts (NatWest Streamline wanted £250), just a monthly fee of £20 in addition to the normal Paypal fees, and this gives me a virtual terminal as well, so I am able to take card payments over the phone. It's worked well for me so far.