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Business Bank Accounts For Bad Credit

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  • No monthly account fee in the first 12 months for new customers, thereafter £8.50 (incl VAT) applies. T&Cs apply. Other charges apply.
  • Access to discounted partner services worth over £5,000. Terms and conditions apply to each partner service, see the partners' websites for details.
  • A UK-based team of business managers on hand to help you manage and grow your business.
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Our comparison service features a selection of providers from whom we receive commission. This table is ordered according to our commercial arrangements.

We only work with providers who we trust to offer a great deal and a fantastic service

How We've Helped Businesses With Bad Credit

Even with a poor credit history, we can still find you the best business bank accounts for bad credit. We compare the top business bank accounts with no credit check options:

  • Switcher guarantee schemes

  • No need to visit a branch

  • Online and app-based banking

  • Pay in via Post Offices and more

  • May help improve your credit score

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Whether you're starting a business or switching from your current bank, there are flexible options available, even if you've struggled with credit in the past.

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Business Banking for Bad Credit Explained

Even though having a bad credit history can cause a lot of worry for many businesses, but that doesn’t mean you can't get a business bank account. In fact, many providers now offer business bank accounts for bad credit that don’t require a credit check at all.

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.

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.

Benefits of Business Bank Accounts for Bad Credit

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.

Find out more

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. Learn more about improving your business credit score.

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No Credit Check

Approval for a business bank account with no credit check can often be almost instant, allowing you to start managing your company finances right away.

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4 Steps to Improving Your Business's Credit

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?

1. 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 as this is the point at which payment defaults or other markers ‘drop off’. Any bankruptcies older than 10 years must also not be shown on your report.

To access your credit report, you can check your credit score for free or view it through Experian, TransUnion or Equifax. These credit reference agencies all have their own ways of rating or scoring businesses and their credit history, and lenders generally use one or more of these agencies as part of their assessment process before agreeing to bank accounts, loans or other types of borrowing.

2. 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, so that they are not accidentally forgotten or overlooked – making payments on-time is an important factor to your credit score.

3. Avoid Applying for Unnecessary Credit

Applying for credit (whether you proceed with the actual borrowing or not) means that credit checks will be done on your business by lenders, which can be seen by other potential lenders on your file. A large number of credit applications in a short amount of time, such as over a few months, can be a red flag to lenders, indicating that your business may not be managing money well.

4. Settle Disputes Proactively

Ignoring business debt is never a good idea and it can have a catastrophic impact on your company’s credit rating if you are taken to court over money owed to other businesses or individuals. Resolving the issue before it gets to this advanced state is always preferable. This could mean reaching out to the party owed and agreeing a payment plan or another arrangement to help ensure that legal action is not taken.

Find out more about overcoming credit challenges in business banking.

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Business Bank Accounts for Bad Credit FAQs

Yes, it is possible. Many business bank accounts with no credit checks don’t perform hard credit searches, meaning you can apply even with a CCJ.

It depends on the account. Traditional business accounts usually involve a credit check, but a business bank account with no credit check, of course, does not.

If a hard credit check is performed, it could impact your score. No credit check accounts will not affect your credit history.

Yes, especially for sole traders where personal and business finances are linked. Limited companies are assessed separately.

If you're a sole trader, yes. For limited companies, only the business credit file is affected unless you have provided a personal guarantee.

It reflects the financial health of your company. A good score can help you secure finance and better terms.

Yes. Personal credit doesn’t usually prevent you from becoming a director of a limited company.

Not all do. Always check the small print or speak to the provider’s customer service team for confirmation.

Limited companies are legally required to have a separate business account. Sole traders can use a personal account, but having a business account is often better for financial management.

Yes. Rejection can be due to ID issues, fraud history or poor credit. If denied, consider applying for a business bank account with no credit check.

Ask the provider for the reason. If the issue is your credit history, try a no credit check account or look into prepaid options.

Request a free credit report from Experian.

  • Keep your records accurate

  • Register to vote

  • Pay bills on time

  • Use a credit card responsibly

  • Clear existing debts

Every bank, whether it’s a high street bank or an online-only one, will have their own criteria for assessing bank account applications that they do not share publicly, so it’s not possible to guarantee that your business will be accepted when you apply. However, some banks tend to look at a wider context of more than just credit history when making a decision, so are more likely to approve applications from some businesses with poor credit ratings. 

At BusinessComparison, we know which banks and accounts are most likely to approve opening an account for businesses with bad credit, so we only include these in our panel for businesses that have a limited credit history or some adverse credit on their file.

The majority of UK banks will carry out a credit check before opening a business account for a company, but not all of them. If you are a business with no credit history at all (usually because you are a newly established company) or have some adverse credit on your file, you may find that most high street banks won’t help you. 

The banks that are happy to work with businesses without including a credit check as part of the process are more limited, but we do have some on our panel that often accept company applications even where poor credit is an issue.

In some cases, banks that will open accounts for businesses with poor credit may limit the features of that account, at least initially, to help that company prove that they can manage their finances well over time and improve their credit rating. 

All of the account features necessary for day-to-day business life will usually be included, such as:

  • Online banking for everyday transactions

  • Debit cards

  • Paying-in facilities available on the high street, such as through the local Post Office if the bank is branchless

Some features that might NOT be available with all bad credit business bank accounts can include:

  • Overdraft facility 

  • Interest on balances

The good news is that often, businesses with this kind of bank account can build a more positive credit history over time, and once they have proven that they are lower risk when it comes to managing their finances, more features can become available. This could even include access to business loans or other forms of borrowing if you want to expand the company and drive further success. 

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