Trouble Opening Business Account

[SylhetBoy]

I am having difficulty opening a business account for a limited company as I have a personal adverse credit history. I am the Director of the company but I hold no shares.

I require just ordinary banking facilities to accept payments and make payments via cheques and BACS or CHAPS.

I do not require an overdraft or loans facilites or credit cards or any other service where the bank would be exposed to any risk.

Could anyone recommend a solution or a bank that will be able to offer a standard business account?

I have seen companies offer 'guaranteed banking' for a fee. Is it worth approaching these?

Thank you

 

[Rachael]

Have you contacted NatWest business banking direct? You can apply on line and they will give you a basic account despite having adverse credit.

 

[dcaccounting]

Is it your company? (i'll assume it is)

I think you should contact your accountant on the "SMALL" issue of having NO shares!!! :?

Regards

Dean

 

[Joyous]

I am the Director of the company but I hold no shares.

Can the owner of the company not open the account, after all the account will be in the company's name not yours.

Regards

Joy

 

[SylhetBoy]

Thank you all for your good advice.

Thanks to Rachel for the NatWest suggestion. I applied online and NatWest will let me know in a few days.

I hold no shares in this company for strategic reasons but as a Director my adverse credit history is flagged up even when we have tried to open the account with the other Director / Co Secretary as the sole signatory.

Any other suggestions would be welcome in case NatWest is a negative.

Thanks again.