bank account application rejected

Y

Yazoo

Registered User
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11
Hi
i just found out that the bank has rejected a current account application. its for an ltd company. company has no loans, no debt and stable income. nothing wrong with it at all.

unfortunately they were not able to give me the reason why, stating that it was the HQ that rejected it, they have no clue why..

the whole situation is seems weird. did it happened to anyone before??
 
Do you personally bank with them. Do you yourself have any kind of bad credit history.
 
I bank with BOI and its a total disaster. I need a bank with an online system that can be accessed without any issues.... BoI doesnt offer that pleasure
 
Yazoo said:
No bad credit history now or in the past, I dont bank with them
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It may depend on the nature and source of the income... Certain types of transactions require a lot of manual intervention on their sided and thus it would not be worth their while to operate the account for you.
 
Yazoo said:
I bank with BOI and its a total disaster. I need a bank with an online system that can be accessed without any issues.... BoI doesnt offer that pleasure
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BofI don't offer oneline banking or only offer a very bad online system?

What is wrong with them?

If you cannot get an account elsewhere wouldn't you just be better off putting up with BofI (they are one of the biggest banks, they surely must have any amount of business customers who are happy with their online system?)
 
Jim2007 said:
It may depend on the nature and source of the income... Certain types of transactions require a lot of manual intervention on their sided and thus it would not be worth their while to operate the account for you.
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I see.. Shouldn't I receive at least a letter confirming that my application has been rejected?
 
Bronte said:
BofI don't offer oneline banking or only offer a very bad online system?

What is wrong with them?

If you cannot get an account elsewhere wouldn't you just be better off putting up with BofI (they are one of the biggest banks, they surely must have any amount of business customers who are happy with their online system?)
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They do offer an online system but it's a joke. I can't access it from anything but one computer with certificate and only Internet Explorer, which makes it virtually impossible to access it abroad or from other computers, macs, mobile phones, tablets etc..

Also their banking system has plenty of errors and doesn't offer many basic options such as direct debit settings etc.

To top that up few months ago one of my clients charged me without my authorisation 2 times through direct debit. I immediately informed the bank and requested them to block that direct debit (which you would think should be as common and quick as blocking stolen credit card) but nooo I had to send them a letter signed by two directors and even then it took them weeks to proceed it....


Seems like the only option for us is to open an account abroad.
 
My limited knowledge of SEPA (Single European Payments Area or something like that) is that you have six or eight weeks to reject a direct debit under the new rules.

Totally agree that online systems of Ulster Bank and BOI are a joke. I've only started to use electronic business banking in the last year and I'm amazed at how poor the systems are compared to personal banking. Business banking is like using DOS based software from the early 1990s and pre windows.

Try a data protection request - it might get you somewhere. My knowledge is that data protection legislation only applies to individuals and not to companies but the muppets in the bank are highly unlikely to know that.
 
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