www.iva.co.uk

Can I get a business bank account if i have a terrible credit rating?

It is very difficult.....

Hi
I,ve yet to hear of anyone who has managed to get a business account who has poor credit/IVA.
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

Do you need to specifically have a business bank account, or could you trade through your own personal current account - or open a second account? Does your business have a trading name - or do you just trade under your own name?

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

I have just managed to get one through www.secretariatservices.net

It cost me £170 fee for a Halifax (non personal account) there were no credit checks, just utility and ID checks... but i did have to put £5,000 in to open it (but you can take most straight out again after its opened!)

Out of interest did you get a cheque book etc or was it the passbook account ??

Im getting a cheque book, cash card,internet banking and D/D and standing order facilities!
Running a business is tough without a cheque book facility!

Thats excellent....... the only account I was aware of that wasn't credit checked was the passbook account which is very limited.

Hi
That,s very useful info.
Can you post once you get your cheque book. ?
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

Hi,
I have just completed incorporation of my business but have now discovered that opening an account for it is a nightmare. I completed an IVA 18 months ago.
I have tried Natwest and although they said they might be able to open an account there is no debit card which for me is essential to pay online businesses like google etc for advertising campaigns etc.
I am currently still operating from my sole trader account with Lloyds which was opened prior to the IVA.
Can i ask if jpj will or has received a debit card with halifax?
I can understand banks reluctant to hand out credit cards etc but it does seem extremely difficult to get past first base. Anyone got any advice about a limited business account?
Many thanks

Hi Andy
I will post next week when all my stuff comes through.

nm36
As far as the info goes it just states cashcard.
I know some cash cards are linked to solo and maestro...but not all websites and retailers take them! I will report back when it all arrives!

JPJ

Thanks for the info on this one!

Well my business account is now open with the Halifax (via secretariat) cost me £170 but was well worth it...Just a couple of simple forms to fill in and it was sorted,no awkward question or credit checks.

I have a current account and "asset reserve deposit account"

I got a VISA electron debit card, telephone banking,cheque book etc.

Would reccommend secretariat to any IVA business people having trouble with the other banks

JPJ

That is such useful information for us. Thank you for sharing this and I will certainly be recommending this account to my own business clients.

Regards, Melanie Giles, Insolvency Practitioner for over 20 years.

For further details contact me at http://www.melaniegiles.com and view my IVA blog at: http://melaniegiles.blogs.iva.co.uk

Hi jpj
Thanks for that
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