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How to Switch Business Broadband ProviderKeep up to date with market trends and the latest finance news.
Our trusted partner Bionic, has experts who handle the comparison for you and guide you through your quotes.
Compare Business EnergyIn a constantly changing market, locking in a Business Energy deal could be beneficial.
Our trusted partner Bionic, has experts who handle the quote for you and you through your options.
Compare Business InsuranceSecure your business with the right insurance. From contents to cyber, we've got you covered.
We compare our best Business Broadband deals to find the ideal solution for your business.
Get ConnectedFind everything you need to decide which Business Broadband plan is right for you.
Set yourself up to take (and make) payments easily.
Find our most popular recent guides here.
This article will give you all the guidance needed to help you make an informed decision and switch business broadband providers smoothly and quickly.
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Finding the right bank account is an essential part of your business.
We don't require credit checks
We have a quick online setup
We offer a direct debit payment
We keep fees low
Basic business bank accounts are ideal for business owners who may be experiencing difficulties with their credit score. These type of bank accounts offer you the option to open a basic account with no 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
Basic accounts generally offer no monthly fee, with fixed fees on payments in and out, withdrawals and deposits - meaning you'll always know what you're paying.
UK banks are more than likely going to reject business owners and directors who apply for a business current account if they have a poor credit history. Regardless of the company type for example; a limited company (a company which is a separate legal entity) – banks will still run a credit check on the directors and owners as standard.
Numerous banks will be more lenient with businesses, however this depends on the reason for the poor credit history. There are two types of bad credit which will not be overlooked, they are; bankruptcy and County Court Judgements.
Generally the bank will often decline a business because of the poor credit history, another reason for them declining the account is if the business owner or director has recently moved to the UK, or moved back therefore they are unable to provide the bank with any credit history.
For many directors and owners they just want to keep their personal finances separate to their businesses finances. Basic business bank accounts could be a cheaper option compared to the complex and pricey bank accounts.
If you are self-employed it is acceptable to use your personal current account. But, be aware that the bank can add fees onto your account if they see numerous transactions, which would ultimately turn into a business current account.
Benefits of basic current accounts
As with any bank account you can manage your account online and setup direct debits.
You will have access to pay money and cheques into any post office branch and some may also have access to a high street bank.
The process is very quick and does not involve a credit check. You will just need to confirm your ID.
A monthly fee is taken out of the account each month or annually depending on the account you choose. Also you will need to pay for cash withdrawals, this cost will be highlighted in advance.