- Original Poster
- #1
After many months of deciding whether to open a business last month I made the decision to go for it and realise my dream of opening a buisness... I have made a 10k investment bought stock, rented a unit, got all my suppliers sorted out. All great the problem I am having is opening a business bank account, please see details below.. If anyone can give advicee or similar issues in the past I will appreciate all feedback..
Credit history problem,
I went to Australia 3 years ago when I left i forgot to pay an outstanding phone bill because they could not trace me and I disappeared out the country I was declared bankrupt for an amount of £250.. Upon my return all my letters had been delivered to my mums and I paid the bill and was discharged of bankruptcy approx 1 year ago.. I currently have no outstanding bills, debts..
Banks contacted.
All I require from my bank straightforward is bank card, which I can put money into, i do not want chque books, I do not want overdrafts.
I initially contacted Alliance and Leicester for a business account was refused because of bankruptcy I offered to show my certificate of discharge - they were not interested.
I read on the net to contact Natwest or the Royal Bank of Scotland about a basic account.. I have spoke to the Royal bank of scotland where I met a personal business manager explained my problem took all the paperwork and was told they have to put it through the system which will decline the application but she could write a report for a recommendation to head office,, She as now done this but the computer is now saying no still..
So basically I need a bank account to operate, I have stock, a unit, potential customers waiting but no way to really take money..
I understand I appear as a risk because of 1 previous issue, but where is the risk..
No money in bank account the following will happen..
Debit Card - Decline
Cheque - would bounce
Withdraw cash - declined.
For one mistake I am paying a hugh price because banks are not prepared to help anyone set up a business without an exceptional credit report.
I have seen companies advertised on the net who want £100 top get you a bank account, I am presuming these are dodgy and there are no guarantees..
If anyone can give me any help I would be highly apprecitive
Credit history problem,
I went to Australia 3 years ago when I left i forgot to pay an outstanding phone bill because they could not trace me and I disappeared out the country I was declared bankrupt for an amount of £250.. Upon my return all my letters had been delivered to my mums and I paid the bill and was discharged of bankruptcy approx 1 year ago.. I currently have no outstanding bills, debts..
Banks contacted.
All I require from my bank straightforward is bank card, which I can put money into, i do not want chque books, I do not want overdrafts.
I initially contacted Alliance and Leicester for a business account was refused because of bankruptcy I offered to show my certificate of discharge - they were not interested.
I read on the net to contact Natwest or the Royal Bank of Scotland about a basic account.. I have spoke to the Royal bank of scotland where I met a personal business manager explained my problem took all the paperwork and was told they have to put it through the system which will decline the application but she could write a report for a recommendation to head office,, She as now done this but the computer is now saying no still..
So basically I need a bank account to operate, I have stock, a unit, potential customers waiting but no way to really take money..
I understand I appear as a risk because of 1 previous issue, but where is the risk..
No money in bank account the following will happen..
Debit Card - Decline
Cheque - would bounce
Withdraw cash - declined.
For one mistake I am paying a hugh price because banks are not prepared to help anyone set up a business without an exceptional credit report.
I have seen companies advertised on the net who want £100 top get you a bank account, I am presuming these are dodgy and there are no guarantees..
If anyone can give me any help I would be highly apprecitive
