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16 November 2018 You are not logged in. Login now.

No credit check business bank accounts for everyone

No Credit Check Business Bank Account ImageBusiness bank accounts with no credit checks required - It is now possible to open a business bank account irrespective of credit history or personal circumstances. The main requirement is that the directors and shareholders of the company must be UK residents.

The no credit check bank accounts can be opened within 4 to 6 days so are ideal for anyone in a real rush to open a new business bank account without waiting for credit checks or business plans to be obtained and reviewed by bank managers.

If you have been turned down credit or bank accounts in the past, whether personally or as a business, then this account is ideal for you as there are no credit checks. There are no credit searches of anyone’s credit history.

Apply now by clicking here

The account operates in a similar way to any other business bank account and provides a MasterCard for you to make payments with and to withdraw cash from cash machines. You can pay your bills by bank transfer and receive incoming payments by bank transfer. If you need to pay in cash over the counter then this can be done at any Post Office in the UK. The account requires you to maintain a credit balance as it is not possible to go overdrawn.

If you have had problems with your credit history then this business account may help you rebuild your credit history by showing you can manage the account and finances successfully.

The main restriction on the bank account is that it does not supply a cheque book or provide the ability for you to accept cheque payments as there is no cheque clearing facility. This means you will need to ask customers to pay you by bank transfer which is most peoples preferred payment method now any way. If you obtain merchant account facilities (credit card taking facilities) then the merchant account can pay into this bank account so would give you further options of receiving payments from your customers.

There is an annual fee of £69 (as at time of writing in 2017) for the account and a charge of £2 if you withdraw cash for a cash machine. Making and receiving UK bank transfers are free of charge.

To apply for your no credit check bank account now click here – Guaranteed Business Bank Account

Prices correct at time of publication in January 2017.