Even if your business or personal credit score is lower than you’d like it to be, there are still business current account options available. These 9 business current account providers don’t run a credit check before approving you. Their applications are online, fast, and straightforward.
|PayPal Debit||No monthly fee!|
|Revolut||£25-£1000 a month (depending on usage)|
|CardOneMoney||£12.50 a month|
|Countingup||£4.95-£9.95 a month (depending on how much cash you process)|
|Coconut||£5 a month|
|Cashplus||£69 a year|
|Acorn Account||£12.50 a month|
|Bunq||€9.99 a month|
|Arro||£5 a month|
1. PayPal Debit
- Manage account 24/7 online and on the app.
- Not a replacement for a business current account.
- Handy for businesses regularly making PayPal payments and transfers.
- Includes pre-paid MasterCard debit card for paying in-person.
- Apply through your PayPal business account.
- Mobile business account, accessible online and on desktop 24/7.
- Trade in 29 currencies with no fees.
- No credit check for current account, just for lending products.
- Pre-paid corporate debit cards available.
- Payroll, loans, and overdrafts coming soon (a credit check will apply).
- 24/7 online and mobile banking.
- Includes pre-paid MasterCard debit cards for you and your team.
- Awarded Best Business Card Programme 2014 at the Card and Payments Awards.
- Application takes 10 minutes.
- Most accounts are set up within 3-4 hours.
- Manage your account 24/7 using the app.
- Open an account in a few minutes.
- Includes contactless MasterCard debit card.
- Free account available for businesses depositing £500 or less each month.
- Mobile account. Manage everything 24/7 on the Android and iOS app.
- Free account available.
- For sole traders and limited companies.
- Sign up with your email and Coconut will send you a link to download the app.
- Manage your account 24/7 on mobile and desktop.
- Set up an account in 4 minutes.
- You just need your company name and address to get started.
- Get an instant online decision.
- Receive your sort code and account number instantly.
7. Acorn Account
- Manage your account 24/7 online and on the app.
- Application takes less than 10 minutes.
- Open your account within 24 hours (weekdays only, it could take longer during the weekend).
- You can still be accepted with a low credit score.
- Manage your account on the Android or iOS app 24/7.
- Maestro, MasterCard Debit and pre-paid Travel Card available.
- Open an account in just 5 minutes.
- Apply with your phone, business details and ID.
- Manage your current account on desktop and on the app 24/7.
- You can’t apply yet. There’s currently a waiting list.
- Personal account is fast to open – just 3 minutes! The business account should be too when it’s available.
- Straightforward online application.
Can you get a business bank account with bad credit?
It’s definitely possible to get a business bank account with bad credit, but your options can be a bit more limited.
Mainstream banks run a credit check as standard, which is usually soft and has no negative effect on your credit report, but you may still struggle to get approval. The 9 accounts above don’t run a credit check, so your current credit score shouldn’t have any impact on you being approved.
How to open a business bank account with bad credit?
You can apply to any business bank account provider you choose, usually online or over the phone. The 9 accounts above all have fast, easy online applications.
What do you need to open a business bank account with bad credit?
To open your business bank account, you’ll need to prove your identity and ownership of the business.
You’ll usually need to provide:
- Companies House registration number.
- Tax information, turnover and information about any other capital.
- Details of all directors or partners, including name, date of birth, address and National Insurance numbers.
How much do these accounts cost per month?
Business bank account costs vary quite a lot. Some accounts are free, or have a free trial period of several months. Traditional bank accounts, and many online accounts, usually cost from £5-£10 a month. Some charge extra for multiple users and extra features.
How long does it take to open a business bank account with bad credit?
It’s faster than ever to open a business current account, whatever your credit score. If you’re successful, your account should be open within a few hours, sometimes even minutes! If the bank or provider needs to check further details, it could take over 24 hours.