How do i change my account into a yahoo.com from yahoo.com.au?

Change of company director, what happens with the company bank account?

• well I have started a UK LTD company with bad credit and I cant get a business account. what would happen if someone else with good credit started a company, opened the bank account and then made me the director... would the banks accept me as the new person to sign for the accounts. Could a bank refuse to accept me as the new director and the new person who signs for the company account? Could a bank say we dont want him to sign for the account hes got bad credit? or would they have to accept me? I thought that the bank account would be open and would belong to the company and not the director so if I became the new director they would have to make me the person who signs for the account. but the big question is would they credit check me? could they say go and bank somewhere else? What normally happens when a company transfers all its powers to the new director, would a bank accept the new person too.. or would they be like we need to credit check you... and would they close the account if I dont have good credit or would they have to give it me?

• Answer:

  I would have expected that as a limited company is like a separate person to you the individual, then a bank might have accepted you as a director to sign the cheques. Is it because you are asking a bank that already knows you for the account? Most banks are looking to open new business bank accounts and most offer a new business account special terms for their first year. If you have a new director, lie a wife or good friend who is prepared to join your company and have the account set up so that they are running the account you may get away with it, but only if you go to another bank to ask for the account, where you and your new company are not known. Later you can be added to the cheque signatories. But if you have such a bad credit record maybe you should carry on letting someone else do the books and pay the bills, as obviously you have not done a good job of doing that to date. Unless you are an undischarged bankrupt and barred from holding such an office, you should have no problems with the bank. You need to put a business case to the bank, telling the bank you don't want credit as you will be making a profit, and have enough money to run the business until the first sales have been made and income is coming in. If you can't do that then that is maybe why you are not being offered banking facilities. For very good reasons they will not want to lend you money as you are a bad risk.