Bad Credit Company Bank Accounts
Business Bank Accounts with No Credit Checks UK
A bad credit business account that can be opened without a credit check could help you better manage your business finances. Finding the right business account if you have no credit history or a poor credit score is the key.
- Compare no credit check business bank accounts with NerdWallet
- Bad credit shouldn’t prevent your company from opening a business account
- Some accounts include tools to help you improve your business’s credit score
Whether your business is too new to have a credit history, or has gathered some credit blemishes over time, it should still be possible to open a business bank account.
That’s because some business account providers offer accounts that can be opened without a credit check. This means you can still enjoy all the benefits, features and tools business accounts have to offer, even if your business has a poor credit score, or no rating.
Note that our pick of the top rated bad credit company bank accounts consists of business accounts that can be opened either with no credit check at all or without a hard credit check – this means some may still involve a soft credit check.
We have chosen to list accounts this way because a hard credit check involves an in-depth look at a credit report that could affect your credit score, whereas a soft credit check is a much lighter touch, top-level financial snapshot which doesn’t affect credit ratings.
Our Top 5 No Credit Check Business Bank Accounts
Each of these products may be one of a range offered by the provider. Always check terms & conditions for suitability before applying. Only affiliated products are shown. Other products are available. Read our guide to ratings.
Best No Credit Check Business Account Providers
Monzo Lite Business Account
Free
Free
Free
n/a
- Available to sole traders, or the director of a registered limited company by shares (Ltd)
- Must be based in the UK
Review Summary
Opening a Monzo account involves a soft credit search to verify some details, but there’ll be no impact on your credit score. There are three accounts to choose from, including the Monzo Lite account which has no monthly fees and allows free UK transfers in and out of the account. Various payment options, digital receipts and an easy-to-use app are all designed to make your life as a business owner easier.
Eligibility: Monzo accounts are open to UK-based and registered sole traders or limited companies by shares. You must be 16 or over.
For more details, read NerdWallet’s Monzo Business Account Review.
Monzo key features:
- Low cost: Free electronic payments within the UK.
- Same-day opening: Almost nine in ten accounts are opened the day you apply.
- Payment options: Including via payment links and smartphone
- 24/7 support: Round the clock in-app customer service.
- FSCS protection: Eligible deposits of up to £85,000 are protected by the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons
Pros:
- No monthly fee
- Free basic UK transactions
- Outstanding app reviews
- Interest paid on savings
- FSCS protected
Cons:
- Charges for cash and cheque deposits
- Can’t integrate accounting software with free account
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Tide Business Account – Free
- For registered business accounts: Must be a director of a UK company registered with Companies House.
- For sole trader accounts: Must be a UK-based sole trader or freelancer with a valid UK home address and be registered with HMRC
- For all accounts: you must be aged 18+, have a valid UK phone number and address, and hold a compatible device registered to a UK App or Google Play store
NerdWallet's Review Summary
Tide offers four different business bank accounts which can be opened without a credit check. Among these is the Free Business Bank account which has no monthly fees, and free bank transfers for a year if you apply via NerdWallet (usual cost is 20p each).
Charges apply for cash deposits, but cheques can be deposited for free. The free account offers international payments and interest on savings, along with a credit building tool to help boost your business credit score.
Eligibility: You must be 18 years of age or older and have a UK-based business.
For more details, read NerdWallet’s Tide Business Account Review.
Tide key features:
- Fast application: Most accounts are opened in minutes
- Point of sale: Tide offers multiple ways for businesses to take payments, including contactless card payments via iPhone, card readers and payment links.
- Credit Score Insights tool: Tide’s credit insights tool can help you to track and improve your business’s credit rating.
- FSCS protection: Eligible deposits of up to £85,000 in new Tide accounts are protected by the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons
Pros:
- No monthly fees
- Same-day opening
- Free transfers for a year when applying through NerdWallet
- Top-rated mobile app
- Tools for invoicing, accounting and taking payments
Cons:
- No overdraft facility
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Zempler Bank Business Go Account
NerdWallet's Review Summary
Zempler’s Business Go account can be opened with no credit check and has no regular monthly fees. Three free outgoing transactions can be made from the account each month before charges start to apply (at 35p each).
Cash can be paid in at the Post Office for a £4 minimum charge, but cheque deposits aren’t possible. Digital receipts, cashflow tracking, instant invoice notifications and the option to integrate accounting software are some of the main features available.
Eligibility: Zempler’s business accounts are open to UK-based sole traders, limited companies, partnerships and charities.
For more details, check out NerdWallet’s Zempler Bank Business Account review.
Zempler Bank key features:
- Quick opening: 99% of accounts are opened the same day as you apply
- Accounting and cash management: Zempler offers accounting software integration, as well as invoicing tools and pots to manage cashflow.
- Business Creditbuilder tool: With the £9 per month Business Extra Account, you can use Zempler’s Business Creditbuilder feature to improve your credit score.
- FSCS Protection: Zempler account holder deposits of up to £85,000 are protected under the Financial Services Compensation Scheme (FSCS).
NerdWallet's Pros & Cons
Pros:
- Same-day opening
- No monthly fee
- Highly-rated mobile app
- Can integrate accounting software
Cons:
- Only three free outbound payments per month
- No cheque deposits
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
WorldFirst Business Account
Review Summary
WorldFirst may carry out a soft credit check to verify your identity but it won’t affect your credit score.
Being a multi-currency account, the WorldFirst Business Account has plenty to offer businesses that cross borders. The account accepts payments fee-free in over 20 currencies, and allows payments to be made in more than 100 currencies.
Payments can also be collected from over 130 marketplaces, including Amazon, Etsy and TikTok Shop. There are no monthly fees, plus the opportunity of a sign-up bonus and cashback on your business spending.
Eligibility: You must be 18 years old or above to open a WorldFirst account. You don’t need a UK address.
WorldFirst key features:
- Fast set-up: Apply in minutes, and accounts often open within an hour.
- Multiple solutions: Collect marketplace payments, manage expenses and convert currencies with one account.
- Global payments: Make quick and easy payments to more than 210 countries.
- 0% FX fees: No foreign transaction fees on 15 major currencies.
NerdWallet's Pros & Cons
Pros:
- Same-day set-up
- No monthly fee
- Fast international payments
- Marketplace collections
- Cashback on spending
Cons:
- Some payments out have fees
- No FSCS protection
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Airwallex Business Account
- Must be a registered business (Ltd, LLP, or partnership) with operations in a supported country
- All directors and beneficial owners must be 18 years or older
- Certain business types are restricted (e.g. gambling, arms dealing, charities) and may not be eligible
Review Summary
Airwallex offers multi-currency business accounts that can be opened with no credit check and are a good option for moving funds globally.
With free local transfers to more than 120 countries, and multi-currency cards available with no international fees, there’s an obvious appeal for businesses that regularly receive international payments and pay overseas suppliers.
The Explore plan also comes with no monthly fees if you deposit or maintain a £10,000 balance each month.
Eligibility: Available to sole traders, limited companies, LLPs, and partnerships in the UK.
Airwallex key features:
- International payments: Accept payments from over 180 countries, collect like a local in 70-plus.
- Corporate cards: Issue up to 10 free multi-currency company cards
- Software integration: Easy connection to platforms such as Amazon, Shopify and Xero.
- Payment solutions: Global online card and local payment method acceptance
NerdWallet's Pros & Cons
Pros:
- Multi-currency account
- Platform integration
- Potential to earn cashback
- No monthly fee if meet deposit/balance requirements
Cons:
- No cash or cheque deposits
- No FSCS protection
This product may be one of a range offered by this provider. Always check terms & conditions for suitability before applying.
Can I open a business bank account with bad credit?
Yes, you can get a business account if you have bad credit, though you’ll probably have fewer accounts to choose from. Generally, it is online business account providers that offer the best chance of success – Tide and Zempler Bank, for example, don’t carry out a credit check when you apply for their accounts. Identifying providers that you may be eligible for is crucial and where our list of bad credit business accounts can help.
How do no credit check business bank accounts work?
Generally, no credit check business accounts work the same as standard business bank accounts, meaning they can be used to receive customer payments and pay third parties, including your suppliers and any employees. Typically there’ll also be a range of other features and tools, often related to invoicing, payment collection and accounting, designed to help with the everyday running of a business.
The main difference is exactly what you’d think – they are business accounts where no credit check, or perhaps only a soft check, is required during the application process. For this reason, these accounts are generally very quick and easy to open online, with new accounts often opened in just minutes following basic ID verification. In addition, they may offer specific tools designed to track or improve your business’s credit rating.
How could a no credit check business account benefit you?
Some of the advantages of no credit check business accounts include:
- Easier approval: The absence of a hard credit check makes these accounts accessible to businesses with bad credit or no credit history at all.
- Time-saving: Without lengthy credit checks, accounts can be opened quickly, and often the same day you apply.
- Build credit: Simply having a business account can help build a credit profile for your business, while some accounts include tools designed to improve credit scores over time.
- Separates finances: As with any business account, it keeps your business finances separate from your personal finances, making it easier to manage both.
- Better oversight: Accounts often include tools and features which make it easier to monitor how your business is doing, follow payments and file taxes.
- No impact on credit score: If there’s no credit check, or only a soft check, there’ll be no associated mark on your business or personal credit score.
Some considerations to think about
While bad credit business accounts offer the definite advantage of no credit check, some potential drawbacks to bear in mind include:
- Fewer features: A more limited choice of accounts means you might find some potentially useful tools and features aren’t available.
- Fees: Check potential charges – some accounts have no monthly fees, but could charge for even basic transactions.
- No branches: Providers offering business accounts with no credit checks tend to be internet-based and won’t offer in-branch support.
How to get a business bank account with poor credit with NerdWallet UK
Applying for a no credit check business account with us couldn’t be simpler.
- Compare the accounts above and pick the one that suits you and your business
- Click the ‘See Deal’ button and get transferred to the website of your chosen account provider
- Apply for your account directly on the provider website – you don’t need to complete anything for us.
» TAKE ME TO: NerdWallet’s best no credit check business accounts
What you will need:
To open a business bank account with no credit check you will typically need:
- Proof of identity: A passport, UK driving licence or national identity card.
- Proof of address: A recent utility bill, bank statement, council tax letter.
- Business information: Including your business’s name, industry and details about other company directors.
- Registration details: your business tax return or self-assessment registration if you’re a sole trader, or Companies House registration number and certificate of incorporation if you’re set up as a limited company
» MORE: How to open a business bank account
How do businesses get a bad credit history?
There are several reasons why a business can have a poor or bad credit score, including as a result of:
- missed payments to creditors
- late filing of accounts with HMRC
- County Court Judgments (CCJs), bankruptcy or insolvency
- too many applications for credit
- high debt
A credit score is a measure of credit worthiness, and a better credit score will give your business access to more favourable terms, such as interest rates on overdrafts and business loans.
If you operate as a sole trader, you won’t have a separate business credit score, because your business isn’t an independent legal entity. Instead, lenders and bank account providers will use your personal credit score when you apply for their products.
However, if your business is set up as a limited company, limited partnership or a limited liability partnership, it will have its own distinct business credit score, which product providers will consider.
Business banking insights
According to the credit reference agency Experian:
- around 66%, or two-thirds, of UK business owners have never reviewed their business credit score
- almost 90% of owners don’t know the factors that go into determining a business credit score.
How to improve your business credit score
To build and improve your business’s credit score, you should:
- Pay on time: Make sure that bills and invoices addressed to your company are paid promptly, demonstrating that your business can reliably fulfill its financial obligations. This will also help your business to avoid fines, fees and reputational damage.
- File your accounts: Take the time to file comprehensive accounts with HMRC, rather than using micro-entity or abbreviated accounting methods.
- Update business information: Don’t be lazy when key information about your business changes. Keep HMRC, Companies House, suppliers, clients and customers up to date when you change your registered address or make other significant changes.
- Manage credit applications: Applications for credit (such as business loans) often trigger hard credit searches against your business. Many of these searches in a short period of time can negatively impact your score, so avoid sending out barrages of applications.
- Maintain good personal credit: While business and personal credit ratings are separate, having a good personal credit score can still help your business to gain improved terms from some lenders.
- Open a business bank account: This will help you to draw a line between your personal and business finances, allowing you to build up a history of financial information.
In addition, some business bank accounts for bad credit also include tools you can use to improve your business credit score.
Our other business bank account roundups
No credit check business bank account FAQs
Yes, it is possible to open a business bank account with a county court judgment (CCJ). Business bank accounts with no credit checks don’t run a hard credit search when you apply for an account. That means that if you have poor credit or little credit history at all, you can still apply for an account.
Many providers in the UK will check your credit score when you apply for a business bank account, but there are some that won’t. Our list of business bank accounts that can be opened without a credit check is here to help.
If you apply for a business bank account that requires a hard credit check, this could impact your credit score, but if you apply for a business account that has no credit check, or a soft check, it should not.
While a simple business bank account is unlikely to appear on your personal credit report, business lending products like business credit cards and overdrafts can impact your personal credit score.
Not all banks offer business bank accounts with no credit checks, so it depends on who you bank with. Check out NerdWallet’s listed accounts above for providers who do not run credit checks on applicants.
A business bank account application could be turned down for several reasons, including if:
- You don’t meet the provider’s eligibility requirements.
- The identification documents you provided are invalid.
- You have a fraud conviction.
- You’re suspected of money laundering.
- The business operates in a high-risk industry.
- The business is registered outside the UK.
- You have a poor credit history.
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