Starling Bank minimum age?

[OddBall121104]

Hi all,

Pursuant to my previous question, I've been looking at alternatives to Barclays for a business account (to make sure that I'm not overpaying). For those of you who haven't seen my previous question, I'm 16 and I've been running a digital marketing agency for the past two years and am looking to incorporate.

Naturally due to my age, most banks don't even want to consider me. Most have an age of 18 (one even had one of 25!) The only major bank (online or brick and mortar) whose minimum age I can't seem to ascertain is Starling's minimum age.

I'm sure that this is a waste of time, as I'm sure it's 18 or over, but would anyone happen to know it for a business account?

Thanks!

 

[japancool]

Again - call them and ask.

 

[UK Contractor Accountant]

Sole trader account is 16 or over. It's in their legal terms & conditions document.

Suggest you open one of those and then incorporate.

 

[Alan]

Interesting that the minimum age for a director is 16 yet some banks seem not to like that.

Of course one way is to incorporate as a limited company and be the sole shareholder, but appoint an older director to open the business account. A director does not have to be paid or a shareholder.

 

[Paul Kelly ICHYB]

@OddBall121104 Why have you started another thread with the same question?

Do some research!

 

[eastcoastbaby]

Isn't that because the age of contractual capacity in the UK is 18. Minors can only form legally binding contracts in a specific set of circumstances.

Since you want to incorporate though, you could just have another director, secretary, or accountant open the account for you.

 

[Miles Ellis]

Hey!

I'm 16 too and run my own Limited company.

Is there any reason you're discounting Barclays? They're easily the best bank I've come across for my scenario and I'm a signatory on other business accounts and put my application in Friday with the business manager for my own Ltd company account.

Spoke to the business manager and he said he was surprised but yes, it is possible to do what I've done and you're trying to do. As a stop-gap, I'm currently using Monzo who are good but lack some of the high-street features you'd need further on down the line.

Fair play - nice to see someone else in the same boat, would be good to get in touch

Edit - they've given me an initial 6 months free banking period as part of the offer as I'm technically not a startup although incorporated in April - other startups get 18 months free banking IIRC and it seems negotiable as far as I can see.

 

[bodgitt&scarperLTD]

Showing my age here a little, but Barclays wouldn't even give me a chequebook when I was 16!