Business Bank Account for Poor Credit
Opening a business bank account with poor credit can be achieved.
Having a poor credit rating will almost certainly be a problem when opening a business bank account with any high street bank. They will always carry out a credit check to see whether you are credit worthy, therefore if you have poor credit history then your application will most likely be declined. If you then apply to another high street bank, they will be able to see that you have been declined so again, will probably decline your application.
So what are your options for opening a Business Bank Account with poor credit?
Well there are various options that you could consider when applying for a business account with poor credit, regardless of any past or even present problems, so don’t feel that having a bad credit rating should stop you opening a new business account.
If you choose a new business account which avoids the need of a credit check then even those with a poor credit rating will be accepted and whilst often not offered by any high street bank, they do offer nearly all the functionality of their regular business accounts but without any credit facilities.
Opening a business bank account with poor credit is guaranteed just as long as the main principles of the business can be properly identified. They must also all be a UK residents and may need to produce a valid copy of a passport or driving license and a current utility bill, so assuming all of those can be provided, you will almost certainly be able to open a new business bank account.
How can you open a Business Bank Account with Poor Credit?
We have a variety of options available many of which will allow you to open a new business account without the need of a credit check, meaning anyone with poor credit could still be accepted.
Will I be limited on what my new business account will offer?
Generally speaking, no matter what your requirements are, we will be able to find you an account, so if you need:
To pay in cash or cheques, we will help,
Standing order or direct debits, we will help,
Mobile & Internet banking and a debit card, we will help,
To make or receive International payments? WE WILL HELP!
How long will it take me to open a new Business Account with poor credit?
Every account is different so it will very much depend on your personal circumstances, the type of business you are and which service is available to you, but typically we can open accounts normally within 48 hours and sometimes sooner, so if you need your account quick we could possible help, but give yourself more time and you could increase your choice of account.