Business Bank Accounts without a Credit CheckGuaranteed Business Accounts - 020 3286 3929
Business Bank Accounts without a Credit Check
It will be almost impossible to open business bank accounts without a credit check as that is their primary way of assessing whether or not they to allow you to open a new business account with any of the main high street banks.
So how to open Business Bank Accounts without a Credit Check?
Well a high street account may not be an option but opening a managed 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 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 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 – How do they differentiate from ‘normal’ business accounts?
There are several differences but the ones that should be highlighted are as follows:
High Street Business Account
Managed Business Account
|Credit Checks||Yes – Often declined if Adverse||No – Proof of ID only|
|Average Opening times:||14 to 21+ Working Days||3 to 5 Working Days|
|Branch Network:||Yes||No, but uses High Street branches|
|Cheque Book:||Yes, Subject to status||No|
|Monthly charges:||Yes, fixed & variable||Yes, Min monthly fee of £12.50|
Opening Business Bank Accounts without a Credit Check – These accounts are available and are 100% Business bank accounts with no credit checks, as they are accounts offering no credit under any circumstances, meaning 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 except they do not offer a cheque book, but they do offer company debit cards, Internet banking, regular payment options, text balance service plus much more. You will also get your own sort code and account number, meaning taking payments direct into your account like any other ‘normal’ bank.
Opening a Business Bank Accounts without credit check is guaranteed just as long as the main principles of the business can be properly identified..
Apply Here for a Business Bank Accounts without credit Check
or Telephone 020 3286 3929
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?
Guaranteed Managed Business Account – This is also a guaranteed 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 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.
Business Bank Accounts without a Credit Check
We Will help no matter what your circumstances:
Call 020 3286 3929
and ask to speak to a specialist adviser.
Business Bank Accounts – Essential for Every Business
It is essential for every Business to have it’s own business bank account and using a personal bank account for any business is really not recommend which is why it is important to understand what your options are if you are having problems open up a business bank account.
If you have a Limited Company you should not pay any money into your personal account and whilst this may work for a Sole Trader business, it is strongle recommended to avoid this practice as it could not only cause a problem with HMRC but also if your bank were to discover this, they would almost certainly close your account as they would not allow any personal account to be used for business.
All accounts fully FCA regulated & authorised