is there a basic business bank account from any bank thats not credit scored?

[zingy]

No it doesn't. Natwest fast service is excellent. I have an account with them and you can make a payment from the account to anyone's account, any bank, and its there within 10 minutes. I know this for definite as my other daughter needed some money urgently and it is a round trip for me of 2 hours if I had taken it to her, but I just made a transfer to her Lloyds account and she said it was there within 10 minutes of me actioning it. Furthermore, I paid a cheque into my account on a Thursday and funds were available on the Saturday. Yet when I banked with the Halifax it was 5 days. There returned items are only £5 as well.

 

The RBS group (RBS and Natwest) make any funds paid in by cheque available to the account holder faster than any other bank, but there is always the chance the cheque could be returned.

 

Also, the payment you made from your Natwest account to the Lloyds account was solely because both banks are part of the faster payments scheme - my question was kind of rhetorical.

[surprise]

The other banks that I have experience with that have been fast are Halifax, Abbey (Santandar) and Barclays all have gone in straight away.

[tifo]

The RBS group (RBS and Natwest) make any funds paid in by cheque available to the account holder faster than any other bank, but there is always the chance the cheque could be returned.

 

This could be debateable.

 

I have paid Natwest cheques (from Natwest customer services - refunds) into my Natwest account and it still takes 4 working days to clear! RBS seems to clear cheques in two working days.

 

Lloyds has always cleared cheques in 4 working days and transfers take 2 working days, even to Lloyds accounts.

[marley2009]

I needed a business account early last year, and had only been with abbey 2 months with my personal account, I called them and they set one up straight away, as long as you dont want an overdraft or loans they are happy to open a business account for you. yes they do a credit score but mine is really bad and I was excpecting a no, and was relieved to hear them say yes, and she said it was because i didnt want overdraft or loans.

 

hope this helps

[mri05]

Err, just discovered this! Going to apply straight away. No overdraft, and spoke to them on the phone. Can have cheques paid in company name, very professional ...

 

 

 

That's fine but this account requires a minimum of £5000 in it. Do you know of another one that does not?

[99point99]

Hey - I know this thread started off quite a while ago - but for the benefit of passers by it came up when I was looking around for a basic business account that caters for people with poor credit ratings.

Ever since I nailed 3 banks to the wall and reclaimed around £4.5K a few years back for banking transgressions 6-9 years ago (seems a long time ago to still be suffering from this!) I seem to have been plagued with a bad credit rating for some reason! Anyway, Im looking to form my own start-up business in June 2012 and have been looking around for a basic bank account (no credit cards or credit of any sort, just an account to pay money into) and I found some people at 'Foersters Formations' who offer business accounts for clients with poor credit ratings. They have a number of different packages available, however although they help those with poor credit they still are restricted by CCJ's within the last year - they can do defaults but no CCJ's in the last year. Not bad though! Their accounts range from £10 to £85 for the full works (including an incorporation certificate) - some of them don't need money to be paid in advance either and offer 2 years of free banking (so you stick with them for 2 years and then move - by then your credit rating should have improved a bit - hopefully!).

Edited April 24, 2012 by 99point99