The Community Interest Company legislation is an evolution that will change the way people do business in the UK
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Hello everyone,
Could I please ask if you came across difficulties with opening a bank account for a CIC, when one of the directors (we're 2 directors) has poor credit history?
We're just about to incorporate and this became a big block...
Many thanks
Rafaela
Could I please ask if you came across difficulties with opening a bank account for a CIC, when one of the directors (we're 2 directors) has poor credit history?
We're just about to incorporate and this became a big block...
Many thanks
Rafaela
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John Mulkerrin If you are having issues you should look at the Monzo, Starling, Revolut type online accounts. In essence they are credit accounts rather than debit accounts but you will be able to get an account for online banking, payments, direct debits etc but you wont get overdrafts etc.
A huge generalisation but they might be options, Co-op offer free banking via their Community Direct Plus Account, again these are not recommendations just products to research.
Best of luck
John
