Business bank accounts for discharged bankrupts

You can still get a bank account if you have declared bankruptcy, although you won't get the same range of features.


Fact checked

Business accounts without credit checks

Tide logo
  • Free company registration
  • Free business account
  • Powerful features
Go to site

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.

Business accounts with no credit check

No credit checks when you apply

Cashplus business


Go to site Read review

Poor credit friendly

Instant notifications

Software integration
Opening a business bank account with bad credit can be complicated. Most banks will carry out a credit check when you put in your application and reject it if you don’t meet the requirements. All is not lost, though! Some companies, like Cashplus, offer banking services perfect for businesses who have a poor or no credit history. There are no credit checks when you apply. The only thing that needs to be verified is your contact details.
  • Have account up and running in 5 minutes
  • Overdraft option "Cashplus iDraft" once you're eligible
  • Currency cards to use overseas
  • Online services in addition to the mobile app
  • Charge to have your bank card issued
  • Traditional bank still needed for majority of your business finance needs
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



Go to site Read review

24/7 customer support

Instant notifications

Software integration
Tide is a fintech app which offers business accounts to small businesses and freelancers, hoping to relieve them of some of the financial stress that comes with a growing company. Tide’s business accounts come with a number of features that address some of the most stressful aspects of working for yourself and offer all of this for free.
  • 24/7 customer support
  • Categorised spending
  • FCA regulated
  • Quick set-up
  • No monthly fees
  • Easy to manage accounts and track payments within the app
  • Ability to set up direct debits and standing orders
  • Can receive online bank statements
  • No branches - all done via the web
  • Doesn't accept cheque deposits
  • No personal accounts
  • No international
  • Transfers or interest offered
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

Can you get a business bank account after declaring bankruptcy?

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.

Discharged vs undischarged bankruptcy

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.

How to compare business bank accounts for discharged bankrupts

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:

  • Fees. Some dedicated business accounts for people with bad credit might be more expensive. But they are not necessarily your only option, so it’s worth comparing a few to try and find a cheap one.
  • Limited choice. The range of accounts, features and perks available to you will inevitably be limited, so you might not be able to afford to be too choosy.
  • No credit options. Business accounts that can be opened without a credit check usually don’t include an overdraft facility. Don’t expect a business loan or a credit card offer either.
  • Brokers. When looking for business accounts for people with poor credit, you will likely come across brokers that will offer to take care of it for you in exchange for a fee. While that’s certainly an option, it will be more expensive, so make sure you’ve exhausted the alternatives first.
  • Ask about rebuilding your credit rating. If you can, it’s worth asking the bank you are considering about ways to rebuild your business credit rating. It may not be possible at the moment, but for example, will it at some point consider offering you some kind of overdraft facility?
  • Budgeting, invoicing, accounting. The best business accounts come with extra tools and features that will help you run your business. These can include features that will help you categorise your business expenses, integration with existing accounting software, an invoice service.
  • Using cash? Business accounts with no credit checks are often digital-only, so what if you frequently need to deposit cash? While it’s less than ideal, it’s not the end of the world. Tide for example allows you to deposit cash on your business account at the Post Office, in exchange for a pretty reasonable fee.

Pros and cons of business bank accounts with no credit checks


  • It’s easier to get accepted, even if you declared bankruptcy in the past.
  • You will get all the basic features that allow your business’ financial life to function, from a debit card to the ability to make and receive bank transfers.
  • It may be quicker to open and set up compared to a standard business account.
  • Some do actually offer a pretty decent range of features that can help you run your business.
  • It’s a first step towards rebuilding your business credit score.


  • Expect a limited range of options and features.
  • You won’t be able to get an overdraft.
  • Some accounts for businesses with bad credit may come for expensive fees.

Frequently asked questions

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.

More guides on Finder

  • Methodology for business banking ratings

    You’ll find customer satisfaction star ratings on some of our business banking reviews. Here’s how we came up with them.

  • Business bank accounts for non-UK residents

    We’ve put together some tips and information on how to open a business bank account in the UK as a non-resident.

  • Business bank accounts for contractors

    Contractors usually need a business bank account, so we’ve put together a guide on how to find one that works for you.

  • Business bank accounts with overdrafts

    Business overdrafts can be a useful safety net, but be aware of fees and charges.

  • Can you run a business from home?

    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 review

    Revolut Plus is the latest current account to be offered by digital banking brand Revolut – we take a look at its features and fees.

  • How to improve your business’ cash flow

    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.

  • Bank accounts for charities

    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.

  • How to set up a charity

    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.

  • Types of bank accounts

    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.

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site