Firearms/Shooting/RFD friendly banking

[Sim G]

Was it not Lloyds that had a shooting club based at Bisley?

Have you tried them? My house insurance is with Lloyds and I specifically asked about my guns. They are specified, the one's valued over £2.5K to replace and, I'm covered for accidental damage outside of the home, including something occurring from my own reloaded ammo and, the £5million 3rd party liability includes something arising from my shooting activity!

All, with no increased premium and they didn't bat an eye lid at the mention of guns....

[ovenpaa]

I moaned to my Mother about the problems of gaining a business account, she mentioned it to her personal bank account manager (Barclays) who bounced it up to the branch manager who said no problem if we were local. Downside is it is Derbyshire and we are Bedfordshire. I contacted Barclays locally who said no thank you.

I have no doubt many existing and long established RFD's have business accounts however try for one now as a relatively new business and there is an audible intake of breath. I have even been told it was not company policy to give business accounts to members of the firearms trade. We only want the account to make life easier when people send us a cheque made out to the company name. We do not want a loan, we do not need overdraft facilities we do not want company credit cards, all we want is a business account.

We are a full time business and building firearms, not part time selling reloading consumables and it is the building part that seems to spook the banks. I think it is time to try again and if refused ask why the bank is actively discriminating against a UK company.

One thing that had crossed my mind was if this was a regional thing.

[Sim G]

Doesn't make sense...... They'll launder the money of Mexican drug lords or Saudi based terrorist groups, but not bank a cheque for a small UK firearms business....

Considering the UK is the seventh largest exporter of arms in the world, and one of the top three biggest arms manufacturers is a British company, it's somewhat ironic.

[Christel]

I'll ring the banks next week, pursue it all to the top and update this thread with the result.

[A.J.P.]

I'll ring the banks next week, pursue it all to the top and update this thread with the result.

I'd be very interested to hear how you get on christel. Thank you to everyone who has contributed to this thread - your advice has proven very useful.

[RWSENG]

I moaned to my Mother about the problems of gaining a business account, she mentioned it to her personal bank account manager (Barclays) who bounced it up to the branch manager who said no problem if we were local. Downside is it is Derbyshire and we are Bedfordshire. I contacted Barclays locally who said no thank you.

I have no doubt many existing and long established RFD's have business accounts however try for one now as a relatively new business and there is an audible intake of breath. I have even been told it was not company policy to give business accounts to members of the firearms trade. We only want the account to make life easier when people send us a cheque made out to the company name. We do not want a loan, we do not need overdraft facilities we do not want company credit cards, all we want is a business account.

We are a full time business and building firearms, not part time selling reloading consumables and it is the building part that seems to spook the banks. I think it is time to try again and if refused ask why the bank is actively discriminating against a UK company.

One thing that had crossed my mind was if this was a regional thing.

I too build, though mainly components for others, and I work on prohibited weapons too, all this the bank knows. If in doubt contact the GTA, as our "professional body" they are bound to take up causes of their members (its what we pay our subs for after all).

[FencepostError]

Perhaps this has already be considered - or is just a stupid idea - but if shooting-related businesses do keep having a problem with banks, perhaps there might be a role for a credit union for shooters and shooting-related businesses? As I understand it, credit unions can now provide facilities including direct debits, debit cards, and so on.

[Fester]

I have had the same problems with all the high street banks the advisor from Lloyds suggested I open another personal current account and just use that an idea I don't like. I think the key us to keep the discussion to sporting equipment and not mention guns wrong as this maybe

[Fester]

It is hard with my business name though

[Demonic69]

Fester, just tell them it's body-building but only for the biceps