BASIC Business Bank account?

[DEBTFREE1DAY]

Hi, had a basic bank account for 4 years - and the bank has been excellent

BUT they don't offer a business account for anyone with defaults, can anyone recommend a bank that offers this service

I don't was credit card/OD/Loan, just a simple bank account I can receive 1 cheque or 1 electronic payment each month into, and pay Inalnd Revenue as and when....

Thanks

[Deepie]

Re: BASIC Business Bank account?

Try here----> http://www.natwest.com/business/prod...#tabs=section1

[DEBTFREE1DAY]

Re: BASIC Business Bank account?

Thanks. It looks like a minimum fee of £10 a month which is a lot when I expect to see 1 or perhaps 2 transactions come in each month, and probably just 1 back out (my salary), but that's life

Appreciate the link, as I need to set this up asap

Thanks

[snowy]

Re: BASIC Business Bank account?

Im having real difficulty trying to get a BASIC business bank account. Im a limited Company.
Tried Nat West but turned down.

Does anyone know of any other companies i Can try?

Barclays is a creditor as is Halifax............

Thanks

[Pixie]

Re: BASIC Business Bank account?

Sorry you're not having any luck Snowy.

I'm afraid I can't help you as I don't have a clue about business accounts

[The Tech Clerk]

Re: BASIC Business Bank account?

value your feedback on the service provided by Bank Accounts Compared and the companies we introduce to you, so please take the time to send us your feedback on our Thank You page after you have completed the application form.




A GUARANTEED Bank Account Guarantees opening your new bank account, subject to proper Identification and there are NO CONTRACTS meaning you can CANCEL AT ANYTIME without penalty. A Pre-paid MasterCard® Debit Card is also included meaning you can only ever spend what you have and never get charged for being overdrawn or missing a regular payment.

BUSINESS BANK ACCOUNTS
Need a Guaranteed business bank account? Complete the form below or Call 0845 474 2917:

Guaranteed High Street Business Bank Accounts -
Set-up fee - £225.00 + VAT
Monthly Management Fee - Zero

PLEASE NOTE: With a GUARANTEED Bank Account you are under no obligations at any time to complete the application process and there are no contracts, so you can CANCEL AT ANY TIME with no penalty.


or google Business Bank Accounts defaults accepted

Cash + offer a business account?

[Never-In-Doubt]

Re: BASIC Business Bank account?

Bank of Cyprus offer business banking (they search Equifax) alternatively look to use something like PayPal and then transfer funds taken to your personal bank account, obviously means you cannot accept cheques etc as they'd not be in your name, but that works.

Do not try and sign up for any of those guaranteed bank account style things - they really are not worth it and if you see the terms, it's not actually guaranteed as a bank can refuse anyone for any reason.

[Never-In-Doubt]

Re: BASIC Business Bank account?

value your feedback on the service provided by Bank Accounts Compared and the companies we introduce to you, so please take the time to send us your feedback on our Thank You page after you have completed the application form.

A GUARANTEED Bank Account Guarantees opening your new bank account, subject to proper Identification and there are NO CONTRACTS meaning you can CANCEL AT ANYTIME without penalty. A Pre-paid MasterCard® Debit Card is also included meaning you can only ever spend what you have and never get charged for being overdrawn or missing a regular payment.

BUSINESS BANK ACCOUNTS
Need a Guaranteed business bank account? Complete the form below or Call 0845 474 2917:

Guaranteed High Street Business Bank Accounts -
Set-up fee - £225.00 + VAT
Monthly Management Fee - Zero

PLEASE NOTE: With a GUARANTEED Bank Account you are under no obligations at any time to complete the application process and there are no contracts, so you can CANCEL AT ANY TIME with no penalty.

I'd seriously avoid this like the plague....

[The Tech Clerk]

Re: BASIC Business Bank account?

Seems reading that business problem area it is a mine field, as Niddy suggest in post 7 worth looking into for safety! when I read the small print of the others send shivers as they are avoidable and should be.

[ScabHunter]

Re: BASIC Business Bank account?

Im having real difficulty trying to get a BASIC business bank account. Im a limited Company.
Tried Nat West but turned down.

Does anyone know of any other companies i Can try?

Barclays is a creditor as is Halifax............

Thanks

Exactly which services do you need, snowy? I've done a lot of research into this during the last two years.

Do you need to be able to accept cheques in the business name?
Do you need to be able to write cheques in the business name?
Do you need to be able to accept card payments?
Do you need to be able to set up standing orders so that you can put clients on a monthly retainer?

SH

[snowy]

Re: BASIC Business Bank account?

Thanks for the response

Do you need to be able to accept cheques in the business name? NO
Do you need to be able to write cheques in the business name? NO
Do you need to be able to accept card payments? NO
Do you need to be able to set up standing orders so that you can put clients on a monthly retainer? Direct Debit to pay accountants and standing order to pay myself a wage

Any good?
Santander was my only hope - they have said NO today...so completely stumped now. I only require a business account to have my contracting wages paid in and save for HMRC

[Deepie]

Re: BASIC Business Bank account?

Thanks for the response

Do you need to be able to accept cheques in the business name? NO
Do you need to be able to write cheques in the business name? NO
Do you need to be able to accept card payments? NO
Do you need to be able to set up standing orders so that you can put clients on a monthly retainer? Direct Debit to pay accountants and standing order to pay myself a wage

Any good?
Santander was my only hope - they have said NO today...so completely stumped now. I only require a business account to have my contracting wages paid in and save for HMRC

Have a read here this my help------>http://forums.all-about-debt.co.uk/showthread.php?t=2346

[ScabHunter]

Re: BASIC Business Bank account?

Thanks for the response

Do you need to be able to accept cheques in the business name? NO
Do you need to be able to write cheques in the business name? NO
Do you need to be able to accept card payments? NO
Do you need to be able to set up standing orders so that you can put clients on a monthly retainer? Direct Debit to pay accountants and standing order to pay myself a wage

Any good?
Santander was my only hope - they have said NO today...so completely stumped now. I only require a business account to have my contracting wages paid in and save for HMRC

If that is all you need, then your best bet is going to be a Cash Plus account. It has some limitations, but none of them are going to affect you.

You'll need to pay £30 a year to get it, but that is lot cheaper than most business banking. The transactions themselves are free, which is unusual for a business account.

You get a proper account number and sort code, as with a High Street bank, and there is no credit check to get it. If you fail to get this, there must be something more seriously wrong, such as fraud markers.

Here is the page which covers electronic payments -

Direct Debits & Standing Orders To Make & Receive Payments Online

The product did win an award at the Card and Payment Awards 2012, and I have independently verified this.

SH

[snowy]

Re: BASIC Business Bank account?

Thanks for the useful info! Much appreciated