Open a Business Account
with Bad Credit
One of the main reasons why you may struggle to open a business bank account is because if any of the directors or key principles of a business has bad credit, as the high street banks will perform a credit check and declined any of those who falls into this category.
Bad Credit - what exactly is this?
Bad Credit is when something adverse happens to any credit facility you may have had which is then reported onto your credit file.
Once on your credit file it can be seen by anyone who performs a credit check on you to determine if they wish to see if you are credit worthy or not.
Bad Credit can be made of a simple missed mobile payment, to defaulting on a loan, failing to maintain a mortgage payment or getting into arrears, however there are more serious issues like entering into an IVA or going through bankruptcy.
Can I open a Business Account with Bad Credit?
If you have any Bad Credit on your credit report, you will almost certainly be able to open a Business Account, however your options will be limited.
So realistically opening an account with any of the high street banks will almost certainly not be an option, but we do have options available that will welcome those with bad credit, as they will not perform a credit check.
How quickly can I open a business account with bad credit?
We will have options available that will open you a new business account within a day or two, even if you bad credit.
The process is one that only requires proof of your identity, so providing you have some photo ID an proof of home address, we will be able to get you a business account opened despite any bad credit issues.
Opening a Business account with Bad Credit - What is the difference to a high street account?
There are a number of differences between a high street business bank account and one that is not, however the essential functionality between the two are almost exactly the same meaning you can trade exactly the same regardless of which account you open
So for an account that needs to be opened quickly, a high street business bank account is almost certainly not an option to consider.
With Faster Payments, Standing Orders, Unlimited Balances and a variety of other similar functions, opening an alternative business bank account is something that will help you trade even if you have any bad credit.
You could expect to get a debit type card, online & mobile payments and almost everything else associated to a high street bank account, with the added bonus of opening it quickly.
So if are looking to open a business account with bad credit and you cannot open one with any of the high street banks, you will have options available that will accept your application.
So whether your bad credit is just a missed payment or you are in an IVA, we will help you.
To start the process, Apply Online Here
Open Business Bank Accounts with Bad Credit
Whilst we do not deal with any of the mainstream banks, we can open you a fully FCA Regulated & Authorised account regardless of your circumstances normally within a couple of days:
Bankrupts & IVAs - ACCEPTED
Directors with Bad Credit - ACCEPTED
Missed Payments or Arrears - ACCEPTED
Help when you need it most
Our application service for a business bank account is one that can normally be completed in a matter of days, so no waiting for an appointment or for long drawn out conversations about if you may or may not get accepted.
We offer a comprehensive and detailed business banking intermediary service to help find the best business bank account available, and then to open that account as quickly as we possibly can, so that you can trade without delay. Apply Here now to get started