If you've got a bad credit rating then you'll likely know how this can negatively affect you in relation to financial products such as mortgages, credit cards and of course bank accounts, we've put together a guide for you to see which business accounts for bad credit are available and how you can apply for them.

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Business Bank Account with No Credit Check

This is the main key thing you need to look out for when choosing a business bank account in the UK. If you've got bad credit history for whatever reason you may want to opt for a no credit check business bank account, put simply this type of business bank account won't do a credit check on you.

In most cases these types of business accounts will still perform some form of check on you but this is typically a check to verify your identity and to comply with regulations relating to anti-money laundering.

Below we look at business accounts with no credit check so you can compare your options and see if any are suitable for you.

Please remember that we aim to keep our site as up-to-date as possible, however, companies do change policies so always check directly on the company website before applying.

Comparing Business accounts for bad credit

Tide* business don't do a credit check, they will, however, perform electronic checks (which are completed by a third-party) in order to verify your identity as well as to comply with UK anti-money laundering regulations. The checks they do won't impact your credit score but do appear on your credit report.

• Tide allows you to open a business bank account in the UK in minutes
• It’s free to open the account and no monthly fees
• The Tide app is fantastic and you get sent a free business Mastercard
• Over 475,000 businesses in the UK use Tide
• No credit check is done
• Get £50 credited to your account plus 1 year of free transactions when you visit Tide* & join using the code: FOUNDERPASS (you’ll need to deposit £50 within the first 3 months to qualify for the £50 cashback)
• Tide also offer free limited company formation* when you open an account with them plus the £50 offer

Our Tide business account review has more details about Tide itself as well as the fees and advantages of using them for your business.

ANNA is another option you could explore, they offer a business account and due to them not offering credit facilities there no credit check is needed.

They offer a number of different business accounts that you can open including one with no monthly fee, this pay as you go style account is a great choice for those who do few transactions. Alternatively they have several account options which have a monthly fee.

Anna business accounts feature:

• Open a business account in as little as 3 minutes
• No credit check is performed
• App based business bank account
• Free direct debits
• Trusted by over 100,000 UK businesses
• Get a Mastercard debit card sent within 5 working days

If this sounds of interest head across to Anna to apply or read our full Anna money review and find out more.

Cashplus are another option to consider as they allow you to open a business account with no credit check. You can open an account with them in minutes and benefits include:

• Two plans to choose from, either a £0 monthly fee for the Business Go option or a £9 a month fee for the Business Extra plan.
• Free business card on Business Extra plan (One off fee of £9.95 on Business Go)
• Online banking and banking via the app
• Deposit cash via the post office (fees apply)
• FSCS protected (up to £85,000)
• Great for freelancers, sole traders and small businesses

Our full Cashplus business account review will give you more details about this bank account for you and your business.

‍Revolut business are one of the most popular business accounts, they offer a no credit check on their current account and you'll be able to get features such as:

• Open an account in under 10 minutes
• Free plans as well as paid plans which give you extra features
• Accept payments online
• Debit card (with option of a metal one for paid accounts)
• A number of free local payments (plan dependent)
• Hold and exchange 30 currencies
• Spend like a local in 150 currencies

ANNA is another option you could explore, they offer a business account and due to them not offering credit facilities there no credit check is needed.

How fast can I open a business bank

The great thing about many of the newer challenger bank accounts that have popped up in the UK are that they have streamlined the application process, no longer do you need to fill in long forms, go into a branch and give ID and so on, everything can be done either online or via an app on your phone.

Many of these business account providers make the application very easy, straightforward and quick, you can typically go through the whole process in under 10 minutes, this includes submitting your business details, your personal details as well as submiting proof of ID and other questions they may ask.

What are the differences between business accounts that offer no credit checks and ones that do

In generally you won't notice any difference in the day to day features of the banking account, the main features that may notice that are different to traditional bank accounts or ones that may do a credit check is that there may not be an option to have an overdraft facility nor an option to borrow money via a business loan.

The main features and services that you'd expect from a business bank account will still be available to you such as:

• Sending and receiving payments
• Access to the account via an app or online
• Business debit card
• Ability to set up direct debits and standing orders
• Statements and ATM withdrawals

Can you get a business bank account with bad credit?

This is a common question for people who have a bad credit rating and the answer is that it is certainly possible for you to get a business bank account with bad credit. In order to increase your chances of getting a bank account for your business with bad credit the best practice is to apply for one that does not have a credit check.

Some of the companies offer the ability to build your business credit score too which can be very beneficial when it comes to raising finance in the future for your business.

Are there business accounts for bad credit?

There are no specific bad credit business account options which specifically are focused on people with poor credit score and credit ratings, therefore you're best to opt for a business bank account where your personal credit score isn't taken into account.

Can I open a business bank if I have a CCJ or if I've been Bankrupt?

Even if you have a County Court Judgement, often simply referred to as a CCJ to your name or if you've been declared bankrupt you'll still find that there may be some options open to you when it comes to opening a business bank account.

Several banks and companies offer no credit check business bank account applications rather than a traditional bank which may do a full credit check when you apply.

There are of course no guaranteed business bank accounts that you can open as every company has certain policies which will vary and even if you have fantastic credit you can still be denied a bank.

Types of banks which accept customers with bad credit scores

In general you'll find that the newer banks and companies who offer business accounts are more likely to accept you as a customer with bad credit than the traditional high street banks.

The reason for this comes down to a number of factors but one of the main ones is the innovation that these so called challenger banks have adopted. They focus on the ability to open accounts quickly, offering these accounts to as many people as possible and to reduce the time and delays in opening accounts they often will opt to not offer overdrafts or business loans by default. This allows them to open the business bank accounts to more people and to those who may have denied accounts in the past.

Which business bank account for bad credit is right for you?

As with any financial decision, we always recommend that you throughly research your options especially checking each companies website directly for all the most up to date details in regards to the application process and the fees in terms of the business account itself.

Weigh up what type of transactions and features you'll be using within your business via the bank account and then look at the fees. Some business accounts will offer free monthly business banking but have higher fees than other options. Others will offer monthly or annual fees rather than a free service.

Business bank accounts with no credit check do exist but you may find that it will still show up on your credit report. If in doubt when applying for any account speak directly with the company and get any of your questions answered.