Business accounts without credit checks

- Free company registration
- Free business account
- Powerful features
Having bad credit, whether because of a bankruptcy or because of other credit credit history issues, can make your financial life very complicated, and this includes opening a business bank account.
But there are a few banks and providers that will offer you option. It won’t be the same, but you should be able to get yourself a basic setup.
No credit checks when you apply
Account fee | £0 |
---|---|
UK ATM Charge | Free |
Account software integration platforms | FreeAgent, Xero, Sage, Kashflow, Quickbooks, Clearbooks |
UK transfer charge | £0.20 |
Additional cards | Up to 20 additional cards |
Additional card fee | £5.95 |
Credit check | No credit checks to apply |
Easy and quick to open, no credit check
Account fee | £0 |
---|---|
UK ATM Charge | £1 |
Account software integration platforms | Xero, QuickBooks, FreeAgent, ReckonOne, Kashflow, Sage |
UK transfer charge | £0.20 |
Additional cards | 35 additional cards |
Additional card fee | Free |
Credit check | No - Tide performs an electronic check but no credit check |
Most traditional banks will carry out a credit check when you apply for a business bank account. That’s even if your business is registered as a limited company and is thus separate from your finances: they’ll check you as a director.
If you have recently had a bankruptcy, it will appear on your credit file, and your application might be refused.
It is still possible to get a business bank account after bankruptcy, thanks to a few providers such as Tide and Cashplus which carry out no credit checks when you apply.
When you initially file for bankruptcy, a series of limitations are placed on your assets, and your existing bank account can be frozen or closed. You may get access to some of your money to meet your living costs.
While this procedure is ongoing, your bankruptcy is “undischarged”. While it is not illegal for you to open a new bank account during this period of time, it can be very hard because banks will not usually accept your application.
After one year, your bankruptcy will normally be “discharged”. You won’t get your old assets back, but if you come into possession of new ones, they will not be normally claimed.
Having your bankruptcy discharged will make it slightly easier for your and/or your business to open a new bank account, but you might still get refused by most traditional banks. That’s because a bankruptcy stays on your credit file for six years after being filed.
You need to look for business accounts that can be opened without credit checks, or ask your bank about so-called “basic” accounts. Here’s what you should consider when comparing options:
Pros
Cons
We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.
You’ll find customer satisfaction star ratings on some of our business banking reviews. Here’s how we came up with them.
We’ve put together some tips and information on how to open a business bank account in the UK as a non-resident.
Contractors usually need a business bank account, so we’ve put together a guide on how to find one that works for you.
Business overdrafts can be a useful safety net, but be aware of fees and charges.
Looking to set up your own business but not quite ready to get a proper office? You can definitely run your company from home, once you’ve taken care of a few details.
Revolut Plus is the latest current account to be offered by digital banking brand Revolut – we take a look at its features and fees.
Cash flow can be hard to deal with, but the right business practices can make it easier to keep your company’s finances in good health throughout the year.
Opening a bank account is one of the very first things you need to do when setting up a charity. Here we look at how to go about finding the right account, from comparing different options to saving on fees.
Registering your business as a charity is a pretty admin-intensive process. Here we cover the basic steps, from recruiting trustees to opening a bank account and registering with the Charity Commission.
Should you get a current account, a savings account, or both? What about joint accounts and premium accounts? Banking can be messy if you don’t know the jargon. This guide looks at the main types of bank accounts and what services they offer to help you figure out what you need exactly.