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Business bank accounts for bad credit

Business bank accounts for bad credit

We've helped thousands of small businesses across the UK find the best deal!

  • Quick filters
  • Quick application process
  • Longest fee free period
  • Overdraft facility
  • Accounts for poor credit
  • A mobile application
  • Low fees to pay in cash
  • Accounts which pay interest
Provider
Free for
BBI Rating
Fees
Features

All other accounts

exclusive Acorn - Business Account
Acorn logo
6 months
Not currently rated
£12.50 Application Fee
Switcher Startup
more info more info
CashPlus - Business Current Account
CashPlus logo
0 months
Not currently rated
£69 Annually
Switcher Startup
more info more info
CardOneBanking - Business Account
CardOneBanking logo
0 months
Not currently rated
£12.50 Minimum Fee
Switcher Startup
more info more info
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santander bank logo
lloyds bank logo
yorkshire bank logo

How we’ve helped businesses with bad credit

Even if you have a poor credit history, we can still find you the best deal

  • We compare the best bank accounts for bad credit
  • Including no credit check business accounts
  • Along with a switcher guarantee scheme

If you are having trouble setting up a business bank account or switching from your current one, then there are still options available where you can avoid credit checks.

What they offer:

  • Debit cards
  • Online banking
  • The ability to pay into post offices or other establishments
  • Potential improvement on your credit rating
  • Quick setup and going to the branch is not required

Fees on the account can be paid monthly or annually. The account is simple and easy to use and it can also be cheaper than a standard business bank account!

90%

of our users would
recommend us to others!

What makes us different Business Comparison is here to help business owners no matter how big or small.

We found that as business owners ourselves, finding the best option is not easy to do online. We felt we could do better and provide a service to all small-to-medium sized businesses.

businesscomparison group photo

Even though having a bad credit history can cause a lot of worry for many businesses, there are still other solutions available and a lot of firms are unaware of their options.

You may have experienced issues in the past, but it no longer has to be an added stress.

Although your options are limited due to your bad credit history, it does not mean that it is impossible for you to get a business bank account. Bad credit business bank accounts are a good option for those with a bad credit history because a lot of providers allow you to apply with no credit check.

Financial services are essential to all enterprises, which means it is very important that you have a full business bank account. Unfortunately, those with bad credit can struggle with this, bad credit business accounts will let the majority of businesses who apply with bad credit open and manage an account, regardless of their poor credit history.

Bad credit business accounts can be a lifeline for many who can’t get an account elsewhere. These accounts have advanced since they began, they now offer almost everything you expect from a high street bank.

This can include direct debits, multiple debit cards, online banking and even overdrafts. These accounts are also much quicker to setup now and for some businesses they can be cheaper than high street banks.

Get an overdraft and free direct debits

Many accounts for businesses with poor credit will offer an overdraft facility, however, this is generally dependent on passing certain criteria. These accounts now also offer the option to set up direct debits.

Helping you improve your credit rating

Running an account sensibly over a sustained period can help improve your credit rating. As you build your credit over time it puts you in a better position in the future to switch business accounts.

No credit check business account

There are generally no credit checks when opening a bad credit business bank account and in many cases approval can be almost immediately, which means your business can begin managing its cash flow as soon as possible offering a piece of mind to yourself and your business.

Whether you like it or not, your credit score makes a huge impact on the road your business leads. You may believe ignorance is bliss but when it comes to a low credit score it is not something that can be ignored.

So what are the first steps of improving your bad credit?

Monitor your credit report

In order to monitor your credit report you must ensure that the information you have provided is correct – this means that if there are accounts associated on your report that aren’t actually yours then you must remove them, as this will affect your credit score. Any negative information that is from over 7 years ago should not be included in your credit report. Any bankruptcies older than 10 years must also not be shown on your report.

To access you credit report you can visit; Equifax, Experian and Transunion.

Set up automatic payments

If your business has a loan or credit card that requires monthly payments, then it is beneficial to organise the payments to come out automatically – making payments on-time is an important factor to your credit score.

Avoid applying for unneeded credit

Applying for credit can add negative points which can affect your score in the long-run. Filling out just one application can add up to 5 points to your credit rating. After filling out 5 unnecessary applications you have added 25 pointless negative points to your report.

Don’t let debt get carried away

If there is an issue with a vendor then by all means necessary do not let it go to a collection, as this will have a huge impact on your report. If you have to, pay under protest – this will lead to the small claims court. However, NEVER let it get to the point of being sued. Judgements and lawsuits are extreme hits to your report.

We compare the market for you to find exclusive deals. Whether you want to switch or set up a business bank account we're here for you.

Interested in a bad credit business bank account?

Why not try out our bank account finder? This is a free, no-obligation tool that will help you find the most suitable account for your business.