UK
IRE
AU56%
Overall service in europe
April 2021
For a personalised banking report, and access to tailored funding and savings opportunities for your business, simply register here.
Choose your business current account options
Anna Money business account
Open an account in 10 minutes
Good for
Need to Know
Revolut Free Account
Open an account in 3.5 days
Good for
Need to Know
Lloyds Bank Start up
Open an account in within 4 weeks
Good for
Need to Know
Bank of Scotland Start up
Open an account in within 4 weeks
Good for
Need to Know
Tide business current account
Open an account in 1 Day
Good for
Need to Know
Revolut Grow Account
Open an account in 3.5 days
Good for
Need to Know
First trust business current account
Open an account in 10 Days
Good for
Need to Know
Cashplus business current account
Open an account in 4 minutes
Good for
Need to Know
CardOneMoney Business Account
Open an account in 4 hours
Account Fee
FREE for first 3 months then £12.50 per month
+ an application fee of £55
Good for
Need to Know
Fair Everywhere business account
Open an account in 4 hours
Good for
Need to Know
The listings below are for information purposes only. These accounts are not currently open for applications.
Bank of Scotland Switcher
Open an account in Not accepting accounts from switchers at this time
Good for
Need to Know
Lloyds Bank Switcher
Open an account in Not accepting accounts from switchers at this time
Good for
Need to Know
Danske small business bank account
Open an account in Not accepting accounts from switchers at this time.
Good for
Need to Know
Bank of Ireland business current account
Open an account in 12 Days
Good for
Need to Know
* Swoop’s service features a selection of providers from whom we receive commission.
Register your business with Swoop and integrate your bank account for your personalised reportDon’t despair – it’s still possible to open a new business bank account with bad credit. Many small business owners in the UK are impacted by their bad credit history, but there’s no need to let bad credit prevent you from starting and running a prosperous business.
Negative credit scores can seriously affect your finances; it can make it difficult to apply for financing such as loans, mortgages or even bank accounts. But, even if your credit history includes bankruptcy or a County Court Judgement (CCJ), it is still possible to open a business bank account. Thankfully, there are several banks who don’t require a credit check in order for you to open an account with them.
In most cases, opening a business bank account is conditional to a credit check. This is the first hurdle you may fail at when looking to open a business bank account.
The bank will run a search on your credit history and establish your credit worthiness. However, there are a number of business bank accounts that do not run credit checks, therefore giving customers the ability to get up and running with a new account incredibly fast (in as little as 4 minutes, so almost instantly!). Anna, Tide, Cashplus, CardOneMoney, as well as Fair Everywhere all allow customers to set up business bank accounts without running a credit check. If you’re looking for ways to compare them, you can utilise our comparison table to decide which account is the right fit for you.
Business accounts that offer no credit checks often offer very similar services to regular business accounts. Notable differences are usually that they will not offer an overdraft. However, you should expect to still receive the following services:
Challenger banks have begun to revolutionise business banking similar to how we have seen Revolut and Monzo gather millions of personal banking customers. Challenger banks have risen since the financial crisis to offer an alternative, often to SMEs who are looking for more flexible and digital solutions to perform their day to day banking needs.
Challenger banks are more likely to offer innovative solutions and integrations into other services you might use as a business owner such as accounting software.
Another key aspect challenger banks have focused on for customers is speed to open an account. It is a lot quicker to open an account on average with a challenger bank over a traditional bank as the system tends to be streamlined and can be done in most cases without needing to interact with a human. This can be a huge win for business owners who are seriously time stretched and need to get accounts open quickly.
If you still want to bank with a traditional bank, then there are a number of ways that you can start to get your credit score moving in the right direction.
To get started, you may want to get a credit report and get to know your score. Our friends at Credit Passport will allow you to see your score for free.
Here are a number of ways you can affect it in a positive way:
At Swoop, we offer an independent business bank comparison table so you can easily compare which bad credit business current account will work for you. You can compare business accounts on Swoop across monthly fees, overdrafts, speed of opening, invoicing, mobile app, free banking, foreign exchange and more.
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