Discharged Bankrupt in need of Business Bank Account

[lionbait]

Hi All,

 

I went bankrupt about 20 months ago so have been discharged for 8 months now.

After almost a year unemployed I have been offered a contract role and I would like to maximise my earnings by going as a limited company.

 

In order to do this I need a business bank account and was wondering if anyone knew who I could approach and if anyone had an account approved after discharge.

 

I have a Co-Op Cashminder personal account (which has been fine and I'm really happy with) so I'll approach them tomorrow in case they can help.

 

I have seen another post that recommended NatWest but I had significant debt with them at the time of bankruptcy so I feel uneasy about approaching them (although it'd probably be in their best interests to take my account on as it is a zero risk company)

 

Many thanks,

LB

[yekrats]

the coop is your best bet

[lionbait]

Thanks Yekrats and I'd love to use them as my current account is with them so instant on-line transfers etc...but I've called them and they have stopped taking new customers for the time being... Some sort of issue with their on-line banking system, so they say.

[yekrats]

mm Strange a friend of mine who has just been declared bankrupt told me only yesterday that the Coop was the only bank who would let him have an account as he's now on salary paye etc and needed a bank for his wages to go in

[lionbait]

Yeah, I have a personal account with Co-Op and did get it before I was discharged. They've been really good, for me. Hence I though it'd be a good idea to get the business account with them (also because I could do instant on-line transfers between business and personal accounts) But they wouldn't let me open one and their web-site says that the account is temporarily unavailable.

 

The Co-operative Bank | Business Directplus

 

Maybe worth asking them how long it'll be unavailable for.

[yekrats]

sorry to hear that I wish you all the best Remember u r an honest guy victim of the current downturn caused by the Government and not a criminal

May u resolve your problems and emerge stronger and wiser

[lionbait]

Thanks Yekrats...I have a meeting with my local Barclays branch on Tuesday....hope they can help.

[banker_rhymes_with]

Thanks Yekrats...I have a meeting with my local Barclays branch on Tuesday....hope they can help.

 

I'd avoid Barclays like the plague.

 

Cheers,

BRW

[MARTIN3030]

Yes Barclays have proved themselves to be far more interested in THEM making money from YOU than anything else.

 

I was told about a Business foundation account that has been arranged between Inbiz (A thing set up between the Gov to help new businesses) and Lloyds.

I was told that the only criteria is that you are not currently bankrupt and do not owe Lloyds banking group any money.

Worth a try I guess-you can find info on InBiz - Supporting Start-ups, Micro-Businesses and SMEs

 

Good luck.

[MARTIN3030]

I will move your thread to the Business bank forums where you may get other pointers.

[lionbait]

Many thanks Martin...I had not found the Business Account section...d'oh.

 

I used to owe Lloyds money. They sold my debt to a debt collection agency a few years ago so I'm not sure how they will feel about me.

 

I'll look into the Ibiz and Lloyds account...thanks again