Is it all possible to set up a business account ?

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Emmadw75

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Post by Emmadw75 » Tue Apr 08, 2014 10:15 pm
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It's important that I set up a business account for a ltd company, I'm in my final year of an Iva .. I don't want any borrowing facilities no credit card no overdraft.. Is this at all possible.?
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martinw

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Post by martinw » Tue Apr 08, 2014 10:29 pm
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You could always go for a prepaid card account like clearcash in the worst case

Other options I think would be your current day to day bank (as you'll have an internal score). I also understand natwest/RBS offer a foundation business account which is easier to get than many.

Martin
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martinw

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Post by martinw » Tue Apr 08, 2014 10:34 pm
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Probably best avoiding banks that are included in your IVA

Although the account is for the company, I believe banks also credit check the directors.

Martin
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Emmadw75

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Post by Emmadw75 » Tue Apr 08, 2014 10:35 pm
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Have tried cash plus and have had a straight out no...
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Emmadw75

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Post by Emmadw75 » Tue Apr 08, 2014 10:36 pm
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Thanks I'll keep trying
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MelanieGiles

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Post by MelanieGiles » Tue Apr 08, 2014 10:37 pm
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Is this for a new limited company which has onlyu recently been incorporated Emmadw75?
Regards, Melanie Giles, Insolvency Practitioner
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Emmadw75

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Post by Emmadw75 » Tue Apr 08, 2014 10:41 pm
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Yes
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Emmadw75

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Post by Emmadw75 » Tue Apr 08, 2014 10:49 pm
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Yes due to new job this only seems to be the current option yet I can't even open a simple accoun.. It seems there is no help out there...
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MelanieGiles

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Post by MelanieGiles » Wed Apr 09, 2014 12:08 am
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Do you need to trade as a limited company Emma? Could you not trade as a sole trader and use your existing current account?
Regards, Melanie Giles, Insolvency Practitioner
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UpToMyNeckInIt

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Post by UpToMyNeckInIt » Wed Apr 09, 2014 9:09 pm
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Hi Emma,

'Cash plus' & 'Card One Banking' are good bets if you are having no luck on the high street.

Both iva-friendly and fees are on a par with other banks.
My opinions are just that: Based on my experience and being a self-employed IVA customer.
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martinw

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Post by martinw » Thu Apr 10, 2014 7:50 pm
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font size="1" face="Verdana, Arial, Helvetica">quote:<hr height="1" noshade>Originally posted by Emmadw75

Yes due to new job this only seems to be the current option yet I can't even open a simple accoun.. It seems there is no help out there...
Many formation companies (company's who form companies for others) often have bundles which include a guaranteed current account, maybe they could help ?

Martin
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