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Wannabe Geek


Topic # 89029 25-Aug-2011 12:23
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I had a business bank account with National Bank. I ran up a debt for $600 and they closed my account. I am currently paying it off. Is there any banks in New Zealand that will let me have an account with them considering. I have learnt by mistakes but feel terrible this might have ruined everything. Is there any banks that don't do credit checks or any one that is lenient. Need advice. Thanks

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Ultimate Geek
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  Reply # 511775 25-Aug-2011 12:35
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$600 and you have to pay it off? I'd say just stay with national bank for business but if they wont let you stay then fix your credit rating first before going to another bank.

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  Reply # 511779 25-Aug-2011 12:39
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Why didn't you apply for an overdraft facility?

http://en.wikipedia.org/wiki/Overdraft
 
http://www.nationalbank.co.nz/business/products/lending.aspx#Overdrafts

It's fairly common that you sometimes need to spend more money than your current cash balance in order to make money, eg: buy stock/invetory then sell it at a profit over time.




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  Reply # 511795 25-Aug-2011 12:49
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I doubt $600 counts as a big deal? I would think most banks would open an account for you, I don't recall ever having a credit check done just to open an account (provided you are putting the account in credit). Seeking an overdraft or loan will be a different matter however.

I used Kiwibank for business as their fees were a lot less than the others (especially Nat Bank)

Good you have realised your mistake and are getting it sorted, that counts for a lot IME





Always be yourself, unless you can be Batman, then always be the Batman



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  Reply # 511805 25-Aug-2011 13:04
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fitzgerald: ...edit...... Is there any banks that don't do credit checks .......

I wouldn't think so.

 



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Wannabe Geek


  Reply # 511874 25-Aug-2011 14:29
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Thanks for your help guys. I am going to have to gett off my bum and actually apply. I know Kiwibank does credit checks but I have a personal account with them so I might as well get a business account. I just wondered if $600 was a big deal. It is to me. I am just freelancing so I don't earn much. Just a small fish really. I am hoping they can see past this debt. Thanks

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  Reply # 512369 26-Aug-2011 11:47
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Try westpac, they were ok with me being a signatory on accounts with poor credit.

if you are director etc then expect problems anywhere tho, you have prooved yourself unsuitable to lend to already and have to work to get that trust back again.




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  Reply # 512949 27-Aug-2011 20:15
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my bank let me go -$16000 befor telling me due to a office stuff up. it was only for 22 hours but the bank took 3 more weeks to tell me.

i would think any bank should close your account for -$600 get up to date and go back with them, they are good.

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