Business bank account after bankruptcy

Discussion in 'Insolvency' started by From_The_Ashes, Jun 8, 2020.

  1. From_The_Ashes

    From_The_Ashes UKBF Newcomer Free Member

    4 0
    Hello all,

    I'm seeking advice on opening a bank account after a personal bankruptcy.

    I was declared bankrupt about 15 months ago, and was discharged in March. I've formed a new limited company and am looking for some advice on opening a new bank account for it.

    Does anyone have any advice on who to turn to? I'm seeking a BBL for the business as well, as it's going to be a personal services company for my self-employment. I've been turned down by my personal bank (TSB), and a number of high street banks aren't accepting new accounts atm.

    I haven't considered one of the "instant online accounts" providers like Tide yet as they're not participating in the BBL scheme, plus I have no desire to manage my business bank account on my phone (as Mettle requires you to do).

    On a slightly related question, what would the legal ramifications be of temporarily using one of my personal accounts for trading, since I don't have a business account at the moment? The lack of an account is delaying starting a new area of business that I really want to keep entirely within the limited company.
     
    Posted: Jun 8, 2020 By: From_The_Ashes Member since: Jun 8, 2020
    #1
  2. UK Contractor Accountant

    UK Contractor Accountant UKBF Big Shot Full Member - Verified Business

    4,997 876
  3. From_The_Ashes

    From_The_Ashes UKBF Newcomer Free Member

    4 0
    Yes, because I'm applying for the BBL on the basis on my self-employment. TSB told me that was fine, although they rejected me for the bank account in the end.

    Regardless of that though, I still need the account for my limited company.
     
    Posted: Jun 8, 2020 By: From_The_Ashes Member since: Jun 8, 2020
    #3