www.iva.co.uk

I am on an IVA. have an idea for a new business , no one will give me a sole trader accont. I dont need to borrow. any ideas

Hi
It is near impossible to open a business account whilst in an IVA.You could open a personal basic bank account and should be able to get a debit card but you will not get a cheque book.
There is a company that has helped another forum member get a business account at www.secretariatservices.net but I think you need 5k to open it,however you can draw that back out once it,s set up
Regards

Andy Davie
IVA.co.uk Spokesperson

About me:
http://www.iva.co.uk/andy_davie_profile.asp

IVA Helpline: 0800 197 4838
http://www.iva.co.uk/iva_helpline.asp

I agree with Andy and you have to apply to a specialised company.

However, if you are self employed then the way around this is to go for a basic bank account and put your income in that way. Obviously if you get an account, you will most probably have access to the internet. Try and also get a Visa Electron account as well. You can do this with the Co Op and Halifax BOS.

I would also suggest getting a cash plus Mastercard which is a front loaded card and this facility would you allow you to make certain payments by Mastercard.

I appreciate this could cause problems within your trade and I would suggest you get funds up front so that you can buy the basic materials!

Good Luck and it will be interested to hear how you are getting on!