There are Business bank accounts for a discharged bankrupt and often they can be opened much quicker than a high street bank.
It can be very difficult opening a Business bank accounts for a discharged bankrupt as all the high street banks will perform a credit check.
When they do and they see that you either are or have been bankrupt, your application will almost certainly be declined.
As such your business banking options could be quite limited, so you would need to consider an alternative banking provider.
What types of Business bank accounts for a discharged bankrupt are there?
There are a number of different types of Business bank accounts for a discharged bankrupt with many avoiding the need of a credit check.
Although not directly with a high street banks, they all offer the key features you need for your day to day banking.
Every option offers your own account number and sort code and will include online banking.
Options like Direct Debits and Standing Orders are generally available, as is a bank card, which works just like a debit card.
As there are no credit facilities there is no requirement to check your credit file.
This means your chances of being accepted are considerably higher even if you are or have been bankrupt.
There will be no face to face meeting with the application required either.
This makes the whole application process considerably easier and quicker than a high street bank.
What are the main difference between this and a high street bank account?
The main key difference is that this will be available to you and a high street bank will not.
The other things are that they will not have a branch network, so all transactions would need to be completed online.
Some options will allow you to deposit cash or cheques into the Post Office or Barclays.
You will almost certainly get online and mobile banking, which for most businesses is sufficient.
The fact that you need one of the Business bank accounts for a discharged bankrupt means that at times you may have to compromise.
As such, opening an alternative business account until your credit file can be improved may be your best option.
For details on how we can help see which Business bank accounts for a discharged bankrupt will work best for you, please either Apply online or contact us on 020 3286 3929