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moby moby is offline
Join Date: Aug 2004
Posts: 1
business bank accounts

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
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aarpol aarpol is offline
Join Date: Sep 2003
Location: Northern Ireland
Posts: 66

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.
Aaron Pollock
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Adam Adam is offline
Join Date: Jun 2002
Location: Leighton Buzzard
Posts: 1,809
Did the banks say it would be a problem?
Adam Fahn

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Rachael Rachael is offline
Join Date: Apr 2003
Location: South Wales
Posts: 1,764
your over 18 so theres no reason you shouldnt be able to open one!!
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stephenmurray stephenmurray is offline
Join Date: Mar 2004
Location: Edinburgh
Posts: 77
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
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