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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

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 oversea Each 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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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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