How Can You Open A Business Account With No Credit Score

[BankFodder]

I opened a foundation account with NAT west in Dec 2009 but found that they did not take card payments even though in their literature it stated that they did. I was with cardsave and streamline for my card providers so they are affliated. As most of my customers pay by card I could not continue banking with them so cancelled my direct debits with them but they would not accept my instructions so continued to charge returned items and then closed the bank account and then put me with a debt collection agency. SO be careful.

 

Read the BCOBS articles and post this story on a new thread. On the basis of what you say here, you may have very good grounds for a serious complaint

[Richhol]

Another Success.

 

I spoke to the NatWest in York as I work over here and arranged an appointment for the 7th February 2012. I went through the application with the Business Manager there and I spoke to him yesterday and my Limited Company account (Foundation Account) has been set up and i have the sort-code and account number to start using. The service I received was second to none and fast as well.

[femidaley]

I was in the same situation as yourself however you do have options. The best one is a foundation business bank account with RBS. You are 99% guaranteed to be accepted as long as you dont have bankrupcy charges or IVA arrangements. These accounts are similar to the usual current account except you dont get a credit card or overdraft. Can i just suggest it might be a lot easier as well if you have a limited company rather than a sole trader as the checks are kept to a minimum i find. Before i was accepted by RBS i was knocked back by Natwest, barclays and HSBC. So dont give up hope..if you need the contact details of the manager i spoke to please email back and i will forward it to you. Good luck my friend

[c-m]

I've heard of people over on MSE forums being rejected for the foundation account, then being accepted by Santander so there's no guarantee that you'll get a foundation account.

 

I summed up what I learned in the post -Opening a business bank account with bad credit history or no credit score.

Edited January 10, 2014 by c-m
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