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Banking for CIC

Finance

Lexi Elven Director at Blithe Yoga CIC Posted 3 months ago

Hello,
I have created a new CIC for our business that was under an ltd. The Ltd will still exist so the bank account attached to that will remain. I am however struggling with opening a new bank for the CIC! What's frustrating is that our business (which has just become the CIC) will be 7 years old this year and we have been banking with HSBC Business. But they've told us they reject all CIC applications.
I was then recommended a Natwest community and charity bank account, but a requirement for that is to be an existing Natwest customer - so I've just created a new personal account with them and will be waiting on new account details now. Before applying for their charity and community account.
Has anyone done something similar? I'm trying to work out what other hoops I need to jump.
I'll need a business account to apply for grants, but can't get a business account for said grants.
Frustrating!
Thank you for you time
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