Latest Managing your bank account Questions & Answers
Dealing with discrimination
I think my bank has discriminated against me (I am Asian) in refusing to give me an overdraft for my business. What do I do?
Business bank account
Do I need to open a business bank account or can I simply use my personal current account for my small business?
Bank pressure
I have a small business that recently expanded, leaving money a bit tight for the short term. My bank has given me 24 hours to agree to halving my overdraft and refinancing the difference in a loan to be repaid over five years. Is this right legally and morally? I have a sound business with no debts.
Overdraft pulled
My bank has asked me to repay half of my overdraft as a loan over five years. This will put me under great pressure and probably force me to close my business. Is there anything I can do to fight their decision?
Credit rating
My turnover has reduced by 75 per cent as a consequence of the recession. Now I have a poor credit rating and the bank will only provide an overdraft equivalent of only three weeks' turnover. We’ve been in business for three years. How can we negotiate terms?
changing bank accounts
We have a longstanding bank account and an excellent relationship with our account manager. Can a new MD change this account without other shareholders agreement?
