Guaranteed Business Acount

[Jason]

Hello there folks, Im one of the shy people who come to this site over and over again for advice. Alot of your posts have been very helpful[:D] I cant seem to find a previous post, so its time to speak up.

Im 2.5 years into my IVA now with Grant Thorntons. My employer is looking to retire and has given me the chance to buy the business, regardless to say he isnt aware of my finacial situation. I have the money to buy the business and put £10k into a bank account to operate the business( gift/loan from a family member, again unaware of my situation). My present bank are not prepared to offer me a business account[:(]

I know i have read on the forums about companies that offer guaranteed bank account.Im just looking for some feed back on these companies or the link to an opening post regarding this matter please.

Thank you in advance for any info[:)]

[MelanieGiles]

Hi Jason and welcome to posting on the forum!

Do you neccessarily need a business account - or could you run the business via your normal chequeing account? What type of business is it?

[Viki.W]

Hey Jason, welcome to the forum. I believe you can open a business account using www.secretariatservices.net but wait for other forum members. Good luck. X

[Jason]

That was quick[8D]

My bank account at present is a basic account. All payments are made to the business via cheques in the company name, I need a cheque book etc to pay suppliers. I have been adviced by my accountant to get a business account.

What type of business...I will be operating as a sole trader, running a Dental Lab to NHS surgeons, with a yearly turn over of 100k+

Thats the link I was after Viki.W[:)] Anyone ever used them?

[MelanieGiles]

With that sort of turnover, Jason, a separate account would definately be advisable - especially if you are going to continue with the existing business name.

[Viki.W]

I did enquire months ago but never used them, my credit score wasn't too bad at that point so I managed to open a natwest account. I do know that they do not offer credit card machine rentals but they may refer you to someone if you need that. Good luck. X

[Soulgrowth]

I used Secretariat to sort out a new lease car and found them very helpful.

I just wonder however if you have the money to buy a business would your creditors not expect it to be paid towards your debt?


Good luck Jason.

Debbie