Business Bank Accounts without a credit check
It will be almost impossible to open a high street business bank account without a credit check as that is their primary way of assessing whether or not they to allow you to open an account.
So how to open Business Bank Accounts without a Credit Check?
Well a high street account may not be an option but opening an online business account without a credit check will be, as they only work on a ‘credit only’ basis, meaning you will only ever be able to use the cleared money in your account as there will be no credit facility available.
So as there are no credit facilities, there is not a necessity to base your application on a credit check, which essentially opens these accounts up to the many individuals and businesses who have struggled in recent times to open a new business account.
Business Bank Accounts without a Credit Check.
These accounts are available and are considered a genuine Business bank accounts but without the need for a credit checks. As these accounts offer no credit under any circumstances, there will be no overdraft fees or penalty charges by going even slightly overdrawn.
They work and operate in a very similar way to high street accounts including a debit card, Internet & Mobile banking, standing orders, direct debits etc.
You will also get your own sort code and account number, meaning taking payments direct into your account like any other ‘normal’ bank.
Opening Business Bank Accounts without a Credit Check.
If you have a Bad Credit rating it could certainly have a negative impact if you want to open a new business bank account, as every principle or director of the business will be credit checked so if you apply for a ‘regular’ high street bank account and have any signs of an adverse credit rating, then there is a strong possibility that your application will be rejected.
So what are your options if you get declined and how can you open a business bank account with bad credit rating?
Open a Business Account without a credit check:
This is one way to open a bank account based on your identity, meaning you can enjoy nearly all the functionality of a regular high street bank including a Company debit card, Internet & Mobile banking, standing orders/Direct Debits, Faster Payments plus much more
Regardless of any past credit problems, there will always be an option available for you to open a bank account which will be suitable for your business, including an option to open an offshore bank account if all avenues in the UK fail.
Having access to a proper bank account is essential for any Business, so if you have been declined and think you may not be able to open a new account, think again, as we GUARANTEE you the opening of any new Business Bank Account.