business bank accounts

[moby]

i am 19 and in the process of setting up a business...

however is it possible to set up a business bank account when your 19? i dont require an over draft. i Just want to be able to have a business bank account to process orders and be able to take cheques or my business name etc

[aarpol]

Moby,

Shouldn't be a problem so long as your credit record is OK.

Try Abbey for a good deal - free banking for small businesses up to a certain number of transactions. Most others will charge you for each cheque cashed or written.

[Adam]

Did the banks say it would be a problem?

[Rachael]

your over 18 so theres no reason you shouldnt be able to open one!!

[stephenmurray]

Hi Moby

as long as you are 18 or over you can apply for a business account so it should not be a problem. However even though you are not borrowing money they will still credit check you and most work on a points scoring system of some kind. The only thing that I thought might work against you only being 19 is that you have very little in the way of a credit history. Not that i'm saying this will be a problem just something I thought of. Although I begrudge recommending the Abbey account because I have worked for them - and generally found them quite incompetent in many ways - their free banking for life offer is quiet good and a lot of people on this forum seem very happy with their service. The Bank of Scotland/Halifax group have just started a similar deal although I don't know the full details it may be worth looking at as well.

good luck with the plans