Special Business Accounts FAQsGuaranteed Business Accounts
Please find below a selection of Frequently Asked Questions regarding our ‘Special’ Business Account and their respective answers.
It will be very difficult to answer every question you may have, so if you have a specific question that is not answered here, please email us directly and we will answer you as quickly as possible – please email your question to firstname.lastname@example.org or alternatively please call us on 020 3286 3929
I've tried several providers and each one has declined me, so will you still be able to help?
Yes, we will be able to help any type of business or individual open a business account facility even if they have been declined already. We have a range of suppliers, so we will approach those we know will approve your application. So depending on your circumstances will depend on where who we approach on your behalf.
I have been Bankrupt, can I still get a Business Account?
In short yes, we can help anyone who has any type of Adverse Credit including those who are or have been bankrupt. It might take a little more work and time, but we will 100% be able to help.
I was told that because of the nature of my business I will be declined, is that true?
Yes it is true that often Business Bank Account applications are declined purely because of the nature of their business, so anyone trading in anything to do with MSBs, sex, gambling, online legitimate drugs, high value jewellery, financial services and many other examples will almost certainly be declined.
HOWEVER – We will have a solution for ANY legal business regardless of their activity.
Is there a bank card included with these accounts?
You will ALWAYS get a card with these accounts however they are technically not ‘Debit’ cards but more like a pre-paid card, however they are normally linked directly to the balance on your account meaning there will be no need to ‘load’ the card and any balance on your account should be available directly on the card.
Is this a proper Business bank account?
Technically we cannot call these Bank Accounts as they are not offered directly by a Bank, so they are often referred to as ‘Business Accounts’ or ‘Financial Accounts’
These accounts are generally a sub-account of a master account which will put a ‘barrier’ between one of the main high street providers (where the actual money is safely held) and your specific account, however you will still get a sort code and account number.
These are very safe as any balance is ring-fenced in one of the main high street banks and only available to you via your providers proprietary software.
When you say 'Guaranteed' what do you mean?
When we say we offer GUARANTEED Business Account Services, we mean Guaranteed!
So no matter what your circumstances or your situation, we WILL be able to assist you – OK it may take a little more time for exceptional cases, you may have to compromise a little on the account facilities and we may be required to do some additional work, but we have no reason to think we will not be able to find a solution to help bank and transact your companies payments.
If you get declined due to your credit rating, the nature of your business or any other reason then you will receive a 100% refund of any fee paid*
*An admin charge may be levied on any application declined due to either fraudulent applications or miss-representations made by any applicant.
Can I pay in Cash & Cheques to this business account?
These business accounts are designed to be used predominantly used as online systems, so making and receiving online payments only, so technically you will not be able to pay cash or cheques directly into the account.
However, we do have some other options for paying in cash and business cheques, which would then be credited directly to into your account.
This is a very specialist service and as such you will need to speak to our cash & cheque cashing department for more information on how we can help take these and have your business account credited accordingly.
I am a Non UK resident but have a UK Limited company, can I get an account?
If you have a UK limited company but are a non-UK resident then we will be able to help you open a new business account.
You will be required to provide full notarised personal and business ID in order to complete the application.
We may also be able to provide Merchant Service too, so speak to one of our specialists when you call.
Can you help Bitcoin traders?
We have helped Bitcoin traders open up a business account where they have been systematically declined by the high street providers as they all look to avoid these type of businesses.
So as long as you can identify yourself and operate a legally trading business, then we will be able to help you.
Will I get a sort code and account number?
Yes, you will always get a sort code and account number however with these accounts they will be the same as everyone else except you will have your own unique reference which will link your funds directly to your specific account.
Do they allow Faster Payments?
Yes, faster payments are available for both incoming and outgoing payments. These will incur an additional transaction charge but are available and work the same as most other faster payment transactions.
Can we make International payments?
Yes you can make International payments to almost anywhere in the world with often very competitive exchange rates.
Are there transaction charges for these accounts?
Yes, as with almost every other business account there will be additional transaction charges depending on the nature of your transactions.
It is not possible to add or list all these charges here but the most common ones can be found within our Terms & Conditions.
Can I set-up direct debits?
No, these business accounts will not allow you to arrange direct debit payments to be taken from your account.
Are there any Overdraft or Credit facilities with these business accounts?
No, there are no credit facilities or overdraft options as these accounts work on a credit only basis.
If you try to send money or use your card where there is insufficient funds, the payment will simply get declined.
This also ensures there will never be any overdraft or penalty charges for going overdrawn.
Speak to a Specialist today or apply online below
020 3286 3929
This selection of questions have come from genuine enquiries and we encourage you to either call or email us with any others you may have regarding the opening of a specialist business account – we will try to expand this section to include all questions asked – Please send any additional questions to email@example.com
Thank you for your input.