refused a bank account

[lilacbabe]

I have tried to open a business bank account with my bank of which I have been with ror over 20 years.
I was refused and could not even have a current a/c for my new business which I really needed as I will have to set up direct debits etc.
They said it was because I had a low credit score which was probably due to having a bit of financial problems recently.They did however give me a savings a/c but this is going to be of no use to me.
They did not even look at my business plan of which I have been accepted for a small business start up grant
as it is going to be a very profitable business.
Who will give me an account for business use ?
thanks.

[Black Noir]

I find this a little remarkable on your Banks behalf espiecially if you already Bank with them personally and have tried to present them with a business plan!

I cant see what their risk in opening you a business account for you is, my business account is just like a normal current account, I dont have an overdraft facility nor did I request a card for the account, it is literally just for paying chqs in and for providing customers with BACS info etc.

Perhaps you should approach another high street branch (im with HSBC) Im sure the would help, I would also move all my personal accounts to a bank that actually values your affairs and wants to help you.

Good luck with your business

[Markandshez]

You seem to be under the impression Banks are there to help you. They are there to make profit and they have made a decision based on your history. They might be wrong and your business will be a flyer but why would they want to take the risk. Banks are THE most risk averse people you will ever meet., which iswhy they gave you a savings account - they still want your money.

If you are willing to buy a Bank Accont you can find lots of people willing to give you one on Google - most of them through Barclays.

A Small Business Start Up Grant is no gurantee and it is most likely the Business Adviser had to give some money away to hit his.her targets. That said, most of these people have good relationships with Banks and should put in a good word for you.