craftylass started this topic @ 10:49 on 10/12/2006
I have been making handmade items for some time now and am just about to registered as self employed as I have started selling and doing some craft fairs in my local area (schools etc) from 1st December 2006.
I would like to set up a bank account in my business name (sole trader), as I have been asked loads of times if I will accept cheques but until now I have said no only cash or paypal.
The problem is I have a CCJ (from a while ago) which is now fully paid back. Will this affect me opening a bank account.
I only want a basic bank account with a cashpoint card, doesn't have to have a cheque book or debit card. It will only be used to put cheques into. I don't need any loans or overdraft etc.
Can anyone recommend any banks. I have tried Lloyds TSB but they were no help.
Any advice is appreciated.
Thanks
RE: Basic Business Bank Account advice
clynshaw | 10/12/2006 06:41 PM
I just opened an account with Barclays, they have a free account with free banking for 12 months. The big banks usually are a little more lenient as they have the capcity to deal with losses, and some smaller banks say yes as they need more clients, ive been told Royal Bank of Scotland are an example. My friend has a default and was given an account and a merchant account with Barclays!
Good Luck!
Ben
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RE: Basic Business Bank Account advice
neilc | 16/12/2006 03:31 PM
Aswell as Barclayst, the vast majority of my clients have defaults/ccjs and they have found that Nationwide's basic flexaccount has been the easiest to open. In theory, if you are only going to open a basic bank account, banks shouldn't bother to credit check you, but many of the others do.
It is very important that you do not apply over the phone or internet, but go directly into a local branch and do ask for the basic account, refusing any offer of a chequebook account.
Hope this helps
Neil
RE: RE: Basic Business Bank Account advice
BrettUK | 17/12/2006 04:48 PM
craftylass,
I have helped a few people on this forum get Bank accounts when they have CCJ's and bad credit history. The only things I will say up front is if you want to borrow money then I can’t help. If you want a basic business account then it’s not a problem. (Don’t worry it's with a reputable high street bank)
Brett
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RE: RE: Basic Business Bank Account advice
snorkerz | 23/12/2006 11:04 PM
I don't know their policy with regard to CCJs, but I bank with Abbey Business Banking and while they may not be the absolute best in the world, they do a decent job and are free for ever. I believe it's the only free account that doesn't need a minimum balance or turnover.
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RE: Basic Business Bank Account advice
GillOakWeb | 27/12/2006 08:18 PM
Nat West have an adverse credit section that take on Business accounts, but you do have to persevere as normal counter assistants do not seem aware of this department, but it does exist.
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RE: Basic Business Bank Account advice
alex1971 | 02/01/2007 12:26 AM
Hi craftylass,
Keep trying you will be able to eventually open an account. It is just a matter of elimitating the banks which definantly won't lok at you. Try this guide from the citizens advice centre:
http://www.adviceguide.org.uk/nm/basic_bank_accounts.pdf
Regards
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RE: Basic Business Bank Account advice
alex1971 | 02/01/2007 12:27 AM
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"Use the best step-by-step guide to model and coach you through making your money Online".
www.beginners-workonline.com
Business at Home works!!
RE: Basic Business Bank Account advice
northernroofing | 07/01/2007 06:30 PM
Craftylass,
I too had a ccj dating back 4 years and tried everywhere to no avail, I eventually went back to my local lloyds tsb even though they had refused me earlier and arranged a meeting witht the business manager, i explained i would never need credit , i didnt want an overdraft i just wanted an account where i could accept cheques in my company name, They were brilliant and after scanning my business plan they finally gave me an account with free banking for 18 months , just be persistant and somebody will give you the chance.
RE: Basic Business Bank Account advice
lisaj1981 | 17/01/2007 07:19 PM
Hi
I've just (within the last week) opened an account with Natwest. At the time of registering I was told that if I had any adverse credit against me I could still open an account but would not recieve the free banking. They were great on the phone and luckily everything has gone through but the woman didn't see it as a problem at all.
Go for it! Good luck
Lisa
