itrends started this topic @ 10:31 on 22/06/2007
Ok, applied for sole trader bank account the other day with A&L. Got a letter today saying that I had been declined because of credt.
I told them on the phone, I am NOT after ANY credit. Debit is fine, no over drafts etc etc.
Anyway, I have a bad credit record all because of a few months of un employment years ago. I make a lot of cash a month etc and yet they still turn me down. So much for the "case by case basis".
Anyway, I wondered if anyone here had any advice on where I can get a bank account that will allow me to accept payments on my company name as a sole trader.
Desperate for advice as I have clients ready to pay and I don't want them paying to my personal name as it looks totally un professional.
I look forward to anyones thoughts and comments.
Regards,
David
RE: Sole Trader Bank Account Woes.
leedjc | 22/06/2007 11:20 AM
I too need help with this! I'm in a very similar situation.
Any help would be appreciated. I see that there are a few companies offering "Guaranteed" business bank accounts for around £150.....Is this worth looking into?
Thanks
Lee
RE: RE: Sole Trader Bank Account Woes.
itrends | 16/07/2007 10:52 AM
Do you have the name of that account (sorry for multiple postings
) as natwest sent a letter back saying NO today. 
Me thinks I just applied for the wrong one.
RE: Sole Trader Bank Account Woes.
Dave Rowtree | 17/07/2007 12:46 PM
I'd look on Money saving expert forums for help there. There may be some lesser known banks that'll take you on, the big high street banks can be very fussy. Check also you have no unsatisfied CCJ's in your name. Worse case scenario you may have to wait 6 months and apply again then.
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Trust no banks. Judge for yourself if you're looking for Personal Loans Make sure you know about Tax Credits
RE: Sole Trader Bank Account Woes.
adman | 17/07/2007 04:32 PM
itrends - did you actually go into Natwest and speak to someone or did you do it online?
Adam
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