Business Bank Accounts page
Opening a UK business bank account
The process of opening a business bank account in the UK is very straightforward and is similar to opening a personal current account. The directors will have to complete an application form and provide the bank with your incorporation details to prove that your limited company exists. The account signatories (the individuals who will be authorised to access and use the bank account), and any beneficial owners, must provide identification to be verified, in compliance with the UK anti-money laundering requirements.
The bank will also carry out routine credit checks on all account signatories to ensure they are suitable candidates to access and manage business funds.
Our business bank account offers are from Lloyds, Royal Bank of Scotland and Barclays
Company Registrations UK provides new clients with the option of a free, fast-track business bank account from Lloyds, Barclays or Royal Bank of Scotland. The Lloyds account and Royal Bank of Scotland account are available to any client who registers a company limited by shares with UK-resident directors and shareholders, or a Limited Liability Partnership (LLPs) with UK-resident LLP members. The Barclays account is available to any company formation client who registers a company limited by shares with UK-resident directors and shareholders.
These bank accounts will note be available to any company who has any non UK officers or beneficial owners. You may be requires to provide the bank with your certificate of incorporation, the memorandum and articles of association, and copies all share certificates. Company directors subject to the banks normal account opening processes, including identity and verification requirements may be asked to provide photographic ID and proof-of-address documentation and/or be subject to electronic verification.
Applying for one of these bank accounts is simple
When Companies House approves your company formation application, we will forward your details to the bank of your choice. Within approximately 48 hours you will be invited to attend a welcome meeting with a business manager at your nearest branch. Lloyds Bank and Royal Bank of Scotland bank accounts are usually activated during the welcome meeting; Barclays bank accounts will be activated within 72 hours of the initial meeting.
As soon as your account becomes active, you will be eligible to claim your £50 cashback reward (if applicable) via your Online Admin Portal.
What do these bank accounts offer?
Select the links below for full details and benefits of our banking partners
Card Processing Services
Most businesses now require the ability to accept card payments either direct from the internet, face to face or over the phone. Whatever your requirements ‘World Pay’ can help improve you customer experience and cash flow.
For any new business one thing is for certain - you’ll need a constant stream of cash to support your ambitions. If you’re looking for a single cash injection, or help with your cash flow to drive your longer-term plans, then Invoice Finance from Aldermore can help.