Business Accounts For Bad Credit
Whilst we do our best to make sure our credit rating stays as healthy as possible, sometimes things do go wrong. Here at business accounts.co.uk we understand that some people with bad credit are perfectly capable of running their own business and many have been for years and years.
Whilst some banks may not give those customers a business bank account because of their bad credit history, we work with a number of banks and account providers who offer business accounts for bad credit.
What are business accounts for bad credit?
Business accounts for bad credit work in much the same way as a standard bank account. Business customers can use them to store money, pay money in and pay money out and business customers will still have a debit card and cheque book to use in the same way.
The account may not have the same level of overdraft facilities as a standard bank account, and if there is an overdraft in place the interest rate charged is likely to be higher because of the additional perceived risk when lending to a customer with a bad credit rating.
Where can I find business accounts for bad credit?
Business accounts for bad credit are not always advertised, and not always provided by the mainstream banks on the high street. At business accounts.co.uk we’ve worked with a number of different account providers and can point you in the direction of providers who do offer business accounts for bad credit.
We’ll even help you compare the costs and features of the different accounts, so you can make sure your business gets the best value for its money.
Can I do online banking with business accounts for bad credit?
Like most standard business bank accounts, business accounts for bad credit feature all the normal business banking features, like online business banking. Banks actually prefer you to carry out online banking as the process is more cost efficient for them compared with you using the counters in the branch where they have to pay staff to carry out transactions manually.