www.iva.co.uk

Hello,

I am currently two months away from settling my IVA in full (following redundancy). I need a business account setting up immediately, but obviously my credit rating is worse that the UK economy's.

I dont need a credit card or an overdraft, I just need a basic business account but obviously on most standard accounts they do credit checks to give you an overdraft etc.

Can anyone recommend a bank that may be willing to give me this even though my credit rating is not good?

Why don't you use your existing bank account and keep records of what is business and what is personal expenditure?

I would suggest that you contact your own bank to see if they will let you open a business or just a normal second account, as you may find it difficult to find one elsewhere.

What business are you in and do you anticipate a lot of transactions going through the account, or will you use mainly internet banking?

Hi,

I need a business account to be able to obtain a grant from the princes trust. Its the main stipulation really. Otherwise I would use my own account for now, but this grant would be extremely helpful!

There are some firms who offer accounts but you pay an arrangement fee which I am not keen to do to be honest - looking at £150 - £200!!!!

I agree with Melanie. Speak to your own bank and explain about the grant and they may well open an account for you. Let them know you do not need an overdraft facility and this may swing it in your favour.