Business Bank Account Declined

Metro bank will your wife partner be a part of the business.

Business bank account declined. Please read this guide for some reasons as to why you may be declined a bank account and or a bounce back loan with some lenders. I ve seen a husband and wife company neatly side step hubby s credit blacklisting by opening the company and bank account with wifey as sole director and shareholder. 74 replies 27 2k views.

Business bank account declined. I ve been told to open a new business banking account because the bank does not let you rename the account as its due to a different entity from sole trader to ltd but i m slightly worried as my credit rating isn t the best and i was half ass declined credit within the last month. There are a number of reasons why you would get declined for a business bank account however the main three reasons are listed below.

The most restrictive service is chexsystems while telecheck will only report bad checks. As every high street bank will perform a credit check if any of the directors or main shareholders has a poor credit rating then your application will get declined for a business bank account. 28 january 2008 at 11 35pm edited 20 january 2014 at 1 18pm in small biz charities moneysaving.

Keeping the business earnings separate from your personal earnings when using the same bank account can be a nightmare especially when it comes to doing your tax returns etc. If you are a small business owner and you have had your application for a business bank account declined by traditional high street banks it can be extremely frustrating. Many people who are declined tend to fear it is their credit rating score that is the only and main cause of a decline and whilst that can and may play a part obviously there can be a whole host of other reasons some of which can be sorted out and when the.

Hello i ve just set up my limited company and i ve been declined for a business bank account with my own bank. I have run my current bank account extremely well. Further shares issued to and a directorship bestowed upon hubby as soon as the bank account is up and running.