Welcome to the forum materialgirl.

Is the business bank account for you as a "sole trader" or will it be for a limited company?

hiya..

it's going to be for a limited company.

thanks

Hi again materialgirl.

Are you a Director of the company?

If you are, do you need to be a Director?

yes i will be the director of the company..Sounds like such a big name but it's just a small business...

I,ve googles so many websites but cant find anything on being in a trust deed with a business account

thanks..

Hi materialgirl.

It's a thorny issue and one that has arisen here a few times. In terms of a business bank account where a Director is currently in a trust deed I'm not sure that we have come up with an effective answer as yet. Directors seem to be personally credit checked as part of a business account application.

One way around it may be for you not to be a Director (though you will of course remain involved in the company in other ways). Is there anyone you know with a sound credit status who would be prepared to take this on?

Have you spoken to your own bank about this already?

at the moment I dont have anyone who would be able to do that for me just now.

Only problem now is I,ve already put my name down as the only director on the company. Am I able to change that or add someone onto this.?

thanks

Hi materialgirl.

Companies can and do change their Directors. It's quite straightforward to do.

You may need to consider this if you cannot get a business account otherwise.

thanks so much for your advice.

I,ll keep trying but if anyone on here knows of any bank or anyone in a trust deed with a business account please let me know.

thanks again.

hi..
I,ve just seen on this forum someone managaed to get a bank account with RBS. its called a foundation current business account for basic banking.

I,ll give it a try...

Hi materialgirl.

I think that I found the same thread yesterday when looking through the forum for previous information for you. My reading was that it related to someone who had completed their trust deed rather than currently being in one.

Well worth giving it a try though. Please let us know what you find out as the information will be useful for future visitors.