The name on your company's bank account is not something the decision engine scores you up or down for. We do not favour or penalise particular banks, and we do not maintain a list of preferred providers. What matters is the trading picture that the account can show, not whether it is with a high-street institution, an app-based challenger, or a digital business bank.
Why the provider does not change the decision logic
Our assessment is built around one question: can this company comfortably meet the repayments from its trading? That question is answered by looking at how money flows through your account — the reliability of income, the pattern of outgoings, and whether things look stable or strained. Those signals are the same regardless of which bank holds your account.
What the account does need to do
The account that feeds the assessment needs to be the one where your main business trading runs. The factors that matter in practice are:
- That it reflects real trading activity — revenue arriving, suppliers and wages paid
- That you can share the last several months of that activity, either by connecting through Open Banking or uploading statements
- That the account is in the company's name and used for business purposes
An account that sees little activity, holds one or two large transfers and little else, or is not the account the business actually operates through, will give the assessment a thinner picture — that matters more than the provider itself. You can read more about what the assessment looks for in how your bank data affects the decision.
App-based and challenger banks
Many UK businesses now operate primarily through app-based banks. These connect via Open Banking in the same way as any other account, and the transaction history they produce feeds the assessment just as statements from a traditional provider would. The important thing is that the account genuinely reflects how the business trades.
If you have multiple accounts, connect the one that best represents your main trading activity. For more on which account to choose in that situation, see does it matter which account I connect if I have several.
Important to know
Credicorp lends only to UK limited companies and LLPs for business purposes, and we do not take personal guarantees from directors. As an exempt business lender we sit outside the FCA consumer-credit regime, so the Financial Ombudsman Service and FSCS do not apply.
See also: How your bank data affects the decision, What information goes into a lending decision, Does how long my company has banked affect the decision?.