Searching for a business bank account following a decline? We’ve got you covered.

Declined business bank accounts

Why have I been declined for business banking?

Banks and building societies have varying criteria when it comes to opening a business bank account. If you or your business falls outside of these requirements, the likelihood is your application will be declined. The reasons for refusing account applications could be one of the following;


  • Industry type deemed to be high risk
  • Personal or Business adverse/poor credit
  • Registered location of company
  • Directors based overseaEach bank and build society have its own set of criteria and guidelines, meaning that if you have been declined by one it’s still possible to find alternatives.


Finding business banking alternatives after being declined

Prior to applying for an account it’s important to establish why you have been declined, and once you understand this you can begin to look for alternatives. For example, if you have been declined business banking due to a poor credit rating you might want to use an alternative bank who only carry out a soft credit search as part of the application process.


How much do alternative business banking accounts cost

After being declined by high street or mainstream banks and building societies, business owners worry that they will have to pay more for alternative account solutions. This is necessarily the case, by selecting your provider carefully you’ll ensure costs remain reasonable – here’s what to expect; a minimum set up fee (to cover administration costs) monthly charges, and costs per transaction made for example setting up direct debits or standing orders.

Rejected for business bank account, what should I do?

Business bank accounts are vital for any company, without one in place you simply can’t operate. Before applying for alternative solutions, it’s important to prepare future applications in detail to increase the chances of being accepted and getting the account live. You’ll be asked to provide documentation to include;



Company registration

Details of Director

Details of any adverse credit, including timing, amount and repayments


Having these to hand prior to application will not only improve your chances of being accepted for business banking after decline, but also increase the speed in which your application is processed.


Help after being rejected for business banking

Merchant Advice Service are working with partnering banks to offer accounts to those who have been declined or rejected elsewhere. Our partners can assist in getting alternative accounts live, in a matter of days. Speak to our experts to find out how we can assist.


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