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[tigers_gonads]

Ello peeps 

As some on here know, I declared myself bankrupt back in May 2011 and was discharged in May 2012.

Before I pulled the plug, I setup a basic account in my name with just 10 quid in it (so the receiver wouldn't bother) and left it there for a rainy day.

Since the discharge, i've had money going in and out of since with no problems.

Right, here is the good news ...............

A bloke who I have known for 25 years in the game has had enough and as of 2 weeks time, he is retiring and going house sitting around the world.
Now for 25 years, I have been covering his call outs and vice versa so we know each others work inside out.
Because of this, I have first option on 90% of his business.
A agreement has been made where as I pay him a percentage of book profits for 3 years then the lot is mine 

And the bad bit ..................

Obviously, I will need a separate bank account for the business.
Thing is, because I have next to zero credit rating and already have a basic bank account the few banking institutions that I have spoken to are treating me like a leper and all without exception are saying "computer says no"   

Who out there will give a dodgy bastid like me a basic bank account ?

[05omegav6]

Nationwide, although they don't do business accounts, but if it's simply a basic account you need then be worth an ask

Legally banks are obliged to provide you with basic account facilities, so shop around and stick at it

[tigers_gonads]

Nationwide, although they don't do business accounts, but if it's simply a basic account you need then be worth an ask

Legally banks are obliged to provide you with basic account facilities, so shop around and stick at it

That the thing Al
I already have a basic account in use at the moment so nobody is obliged to give me another one 

I will try nationwide though 
Thanks

[05omegav6]

Nationwide, although they don't do business accounts, but if it's simply a basic account you need then be worth an ask

Legally banks are obliged to provide you with basic account facilities, so shop around and stick at it

That the thing Al
I already have a basic account in use at the moment so nobody is obliged to give me another one 

I will try nationwide though 
Thanks

You could reasonably argue that as a self employed contractor you require a separate trading account

[05omegav6]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

[Lazydocker]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

This way

Is it a limited company? If not, look into it

[Kevin Wood]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

That would establish a link between you for credit rating purposes. One or other of you may not be happy with that state of affairs.

[Lazydocker]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

That would establish a link between you for credit rating purposes. One or other of you may not be happy with that state of affairs.

Depends if it is a business account though doesn't it

[Kevin Wood]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

That would establish a link between you for credit rating purposes. One or other of you may not be happy with that state of affairs.

Depends if it is a business account though doesn't it

I'm not sure. It's 100% certain if it's a regular joint account. Not sure if a business account would be any different.

[STEMO]

My advice would be...take advice. There must be some kind of charitable organisation that can help you out.

[omegod]

Co Op and Nat west are usually good at basic accounts. Couldn't you have the pretence that you are switching accounts ...then don't switch, keeping both?

[05omegav6]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

That would establish a link between you for credit rating purposes. One or other of you may not be happy with that state of affairs.

Depends if it is a business account though doesn't it

I'm not sure. It's 100% certain if it's a regular joint account. Not sure if a business account would be any different.

Definitely. Have done it

To add context:

Was in a partnership with three other people. Opened a Lloyds business account. Added a card reader. One partner left, removed from account. Second partner set up a second business account (turns out he was a dodgy, devious Tuesday), I went my own way, and the only way to keep the card reader without breaking lease was to keep me on the account oppsing the other partner of it, change it from a partnership to a sole trader with an account name change and job jobbed

[zirk]

Guessing your current account is whats called a 'Non Status Account' if so and your self employed and or T/A just ask them to set up a another second account , one for you and the second for your works money.

Also try Natwest Telephone Banking, its basicaly a Non Branch Account, so you do your banking by telephone, online or at any Natwest Branch, they may set you up,a Simple Bussiness Account they seem to have a easier method rather than going through a Branch Manager.

Last option as LD says go limited, most Ltd formation companies will throw in  Bank Account as part of the package.

[Kevin Wood]

As an aside, you could ask your retiring mate to add you to his business account and then simply cross him off it when he retires... afterall you are taking over his business...

That would establish a link between you for credit rating purposes. One or other of you may not be happy with that state of affairs.

Depends if it is a business account though doesn't it

I'm not sure. It's 100% certain if it's a regular joint account. Not sure if a business account would be any different.

Definitely. Have done it

To add context:

Was in a partnership with three other people. Opened a Lloyds business account. Added a card reader. One partner left, removed from account. Second partner set up a second business account (turns out he was a dodgy, devious Tuesday), I went my own way, and the only way to keep the card reader without breaking lease was to keep me on the account oppsing the other partner of it, change it from a partnership to a sole trader with an account name change and job jobbed

I'm not saying the account can't be managed in that way, just that an association will be made between the financial status of all signatories.

[Gaffers]

I think that while it is good practice, you don't actually need a separate account if you are a lonely trader.