I have a Limited Company and was discharged from my Bankruptcy 5 years ago – can I still get a Business Bank Account?
Yes – despite having to wait another year to have your bankruptcy removed from your credit file, you will still be able to open a new business bank account as there are some options available that offer new business bank accounts without the need for a credit check.
Most regular high street banks will always check your credit file when processing new business account applications which is nearly always the prime reason why applications are declined.
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Even though you may have been discharged, the fact that you have been bankrupt will remain on your credit file for at least 6 years after discharge, meaning it will severely restrict you opening any new business account from the main high street providers.
Having said all of that, there will be options available to you but the facilities available might mean you will have to compromise until such a time as you can remove the discharge notice from your credit file completely.
One such option could be applying for a business account which is based on Identity and not your credit file, meaning as long as you can be identified you cab be guaranteed a new business bank account.
So needing a new business bank account and being a discharged bankrupt might restrict you but it certainly does not necessarily mean you will not be able to open a new account for your business.
Guaranteed Business Accounts for Discharged Bankrupts call 020 3286 3929 or Apply Online here
Most High Street banks will not offer guaranteed business accounts for discharged bankrupts as it will almost certainly fall outside of their minimum criteria for the opening process however there are other options available and whilst you may have to compromise with one or two of the facilities available, you will be able to open a new account and run your businesses finances through it’s own company bank account.