Very interesting as I am now looking at a new business account.
I found this news story from April 2008 regarding the Natwest account below, and it seems that as long as you are not currently bankrupt (or have a history of fraud) you could well be ok! It also says it INCLUDES a debit card (solo) and cheque book, and also for new start-ups - 2 years of free banking!
NatWest and Royal Bank of Scotland (RBS) have launched a business current account that is available to all customers, regardless of their credit standing, called the Foundation Account.
It aims to give "aspiring entrepreneurs" who have so far been unable to open a business account to access everyday account services, including a cheque book, debit card, standing orders and direct debits.
Businesses which have opened in the last year will also be eligible for two years free banking.
However, they will not be able to access borrowing facilities and the account will not be open to undischarged bankrupts or customers with a history of fraud.
Steve Pateman, chief executive of Business Banking at NatWest and RBS, said: "We recognise that although there are many reasons why customers may have impaired or limited credit records, this does not mean that a new business venture cannot be successful."
Definately Melanie, apparently it has been available since June 2008...
We are looking at a new start-up/part-time business, with very little outlay, but need somewhere to keep business and personal finances separate, so it sounds ideal. I'll keep you all informed on how successful we are with Natwest!
Is it available for persons who are self employed and in a current IVA?
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
