declined business bank account

[APAW96]

Hi everyone ,
Would i be accepted with another banks if I've been declined to open business account by the Barclays banks ?with No reason !!!! what should i do at all to have business account for my company LTD ?

 

[nelioneil]

You can try other banks, lots to choose from..

Do you have a bad credit rating? That could potentially muddy the waters depending on the bank.

 

[fisicx]

There was a reason your account was declined. They just chose not to tell you want that reason was.

Banks share a lot of information. Which means they will be able to see that your application was rejected.

 

[Mark T Jones]

A# @fisicx says, there will be a reason, which likely stems from your credit file. Are you aware of any gremlins?

They don’t share information, but they do use similar sources it might be worth doing a personal credit search.

 

[Set8up]

There are some challenger banks offering samilar paid products. Not sure if they can help as some comments elsewhere suggests they're more open. E.g. revolut business.

 

[APAW96]

@fisicx @Mark T Jones So if they will be able to see my application was rejected , what should i do ? I m looking for solution .
Cos i tried METRO bank and they know about my application . But i dont know it's worth to try another bank or not ... or might i try Cashplus ?

 

[Mark T Jones]

@fisicx @Mark T Jones So if they will be able to see my application was rejected , what should i do ? I m looking for solution .
Cos i tried METRO bank and they know about my application . But i dont know it's worth to try another bank or not ... or might i try Cashplus ?

They won’t b3 able to see your application was rejected. The answer will largely lie in why you were rejected. Are you aware of any adverse information on your credit file?

 

[Mr D]

@fisicx @Mark T Jones So if they will be able to see my application was rejected , what should i do ? I m looking for solution .
Cos i tried METRO bank and they know about my application . But i dont know it's worth to try another bank or not ... or might i try Cashplus ?

Before applying at more places look to see what may have caused a problem for the rejecting bank.

They'll have what you gave them plus your credit file access. While not the sole issue its likely there will be something in credit file.
Or maybe simply too many applications for bank accounts for later banks to be comfortable with.

It used to be the case (maybe still is) that a bank you already use personally may be more open to being used for additional accounts.

 

[AWA Training]

There are other options, the Coop offers a banking facility which doesn't hang too much on bad credit ratings.
Problem is though it is true as a discharged bankrupt you can incorporate a company a year later, getting a business bank account to support is the hard part.

 

[UK Contractor Accountant]

if you just want basic App banking without all the extras (cash/chqs pay in for example) then have a look at Tide Bank. Don't think they reject bad credit scores for the Director.

Says you can get an account open in 5 mins! not sure how true that is.

https://www.tide.co

 

[AWA Training]

This is another one, but i was put off by bad reviews https://www.mycashplus.co.uk