Open a Business Bank Account in the UK
We can assist you to open your bank account in the UK!
Opening a business bank account in the U.K. is easier than you may imagine so long as the company has U.K. resident shareholders and directors. Banks in the U.K. offer a range of different account options. As with any onboarding process, you will need to provide the relevant documents – personal ID, proof of address, details about directors and shareholders and the company’s incorporation documents
For incorporated companies, they will need to present accurate financial records and any other specific documents the bank might request. Once you have submitted these documents, the U.K. bank will verify the information and run routine KYC checks to ensure that the potential customer meets all requirements and is eligible. Running a company, especially a Limited Liability (Ltd.), is extremely hard, if not impossible without a corporate bank account.
For Individuals and Companies
Required Documents for Opening a Business Bank Account in the U.K.
Proof of address in the form of a utilities bill, council tax statement etc.
Barclays accepts new accounts where the directors and shareholders are not U.K. residents. They offer an international bank account in dollars, pounds or euro. These funds are held in the U.K. or Jersey or the Isle of Man. Barclays international accounts can be managed online; by telephone or via Barclay’s mobile app (only for pound sterling).
Lloyds Bank U.K. offers non-residents an international current account. It is possible to apply for a Lloyds Bank international currency account online. The international account can hold dollars, pounds sterling or euro. Lloyds does not charge for international payments (although the recipient bank may charge fees for receiving the funds).
HSBC offers a corporate bank account to companies with non-resident directors and shareholders. These accounts can be opened by post or by visiting one of their branches. With the HSBC corporate bank account, you enjoy round-the-clock customer service, no monthly fees and daily ATM cash withdrawals. You can access your HSBC account with a simple login from anywhere in the world.
Non-Residents and U.K. Bank Accounts
A non-resident is defined as a person not living in the U.K. and does not have a U.K. address. This can apply to foreign nationals or British expats living outside of the U.K. Customers do not have to physically live in the U.K. in order to open a U.K. corporate bank account but most U.K. banks will only consider applicants with U.K. residency. You have a better chance of being accepted by a U.K. bank if you can obtain U.K. residency before you apply for an account. Businesses registered outside the U.K. will still be able to open an international bank account at a U.K. bank through their international division. The larger U.K. banks offer accounts specifically geared towards non-residents. In some cases you can even apply for an international U.K. business bank account online.
Alternative Finance Providers
Recently there has been a rapid expansion in the EMIs (Electronic Money Institutions) market. EMIs have started sharing the market with traditional banks. They offer traditional banking services but usually use the latest technology which allows them to provide a speedier onboarding process, lower charges, multiple login options, easier access from a wide range of devices, innovative services, advanced solutions for corporate needs and borderless accounts. EMIs can recognize the needs of innovative startups in a way that most traditional banks can’t. EMIs may be the future of banking and the end of conventional banking as we know it. An example of a reliable EMI is Valyuz UAB.
open business bank account online UK non resident: Most traditional banks in the UK will not open a business account without proof of a UK address and they will often require a personal visit to the bank. There are British online banks like Monzo and Revolut, where UK non-residents can open an account online. In some cases, Barclays, Lloyds and HSBC allow non-resident customers to open a business account online. Britain’s larger banks are accustomed to working with international customers but will still require proof of ID and proof of address in your country of residence. Although options are limited, we can help you open a business bank account in the UK even if you are not a UK resident.
UK business bank account for non residents: It is not easy for a UK non-resident to open a UK business bank account; most UK banks will reject applications if you don’t have UK residency due to concern over fraud. Financial institutes usually require proof of UK residency and a personal visit to the bank branch. Each bank has policies on UK non-resident business bank accounts. HSBC allows non-resident company directors to open an account but not company owners. Lloyds will open a business bank account for non-residents if at least one director lives in the UK and Barclays sometimes accepts non-resident applicants. Alternatively, you could opt for an account with a digital, online-only bank like Monese or N26.
business bank account for non-UK residents: Each bank has its own application requirements but most traditional UK banks require a visit to a bank branch and proof of UK residency. There are a few options available for non-UK residents that want to open a business bank account in the UK. HSBC requires a face-to-face meeting at a bank branch but they often accept non-UK residents for new business accounts. Lloyds will open a business bank account if one of the directors has UK residency. Barclays can open business bank accounts for non-UK residents from their branch in the Isle of Man. The easiest solution is to open your business account with an online bank, payment providers, or EMI such as TransferWise, Monese, or Revolut.
UK company formation non-resident with bank account: All UK companies have to register at Companies House and present relevant documents and information including a registered UK address and the addresses of the directors (can be anywhere in the world). The obvious problem for non-residents is not having a UK address. The solution is a virtual office service that provides a legal UK address for your business plus a service for sorting and forwarding your mail. Non-resident UK company formation packages often include opening a UK business bank account on your behalf at NatWest, Barclays, HSBC, Lloyds, RBS or at a virtual bank or EMI.
UK business bank account non-resident: The main issues facing non-UK residents wanting to open a UK business bank account are providing proof of a UK address and making a face-to-face visit to a UK bank branch. Some traditional UK banks will open business accounts for non-residents under certain conditions but the process is complex. Alternatively, it is possible to open an account with an EMI, virtual bank, or payment processor. You’ll get UK business bank services including sort codes, a UK account number, debit cards, and an IBAN. You can open a UK virtual business account without proof of UK residency and without visiting the UK with companies such as Revolut, Monzo, Monese, and TransferWise.
how to open a business bank account in the UK for non-residents: Non-residents that want to open a UK business bank account will find that traditional banks require proof of UK residency and a visit to a bank branch. There are a few other ways of opening a UK business account as a non-resident. Firstly, there are large UK banks that accept non-resident applicants under certain conditions. For example, Lloyds will open a business account for non-residents if one of the directors lives in the UK and Barclays allows non-UK residents to open business accounts from their branch in the Isle of Man. Second, non-residents can open a business account with a virtual bank, payment provider or EMI such as TransferWise, Monzo, Monese, N26 or Revolut. These fintech companies offer customers sort codes, cards, IBAN and a UK account number.
non uk resident business bank account: To open a business bank account in the UK you need to supply a UK address which can be difficult for non-UK residents. The good news is that there are some ways of getting around this; there is no legal reason preventing a non-UK resident from opening a business account in Britain. Large British banks are more flexible about non-UK resident accounts. You could try Barclays, RBS, Lloyds or HSBC although the process of opening a business bank account as a non-UK resident is complicated. Instead, you could opt for a business account with an online banking app, payment processor or EMI like Monese, N26, Tide or Bilderlings Pay.
open a uk business bank account online: You can start to open a UK business bank account online but the process must almost always be completed with a visit to the physical bank branch. To start opening a business bank account online simply go to the bank website and fill in an application. If you are unable to visit a bank branch then you should probably opt for a UK business account with a digital bank, challenger bank, or EMI such as the UK-based Tide, CashPlus, Metro Bank, or Starling Bank. Each bank has unique requirements for opening a bank account online but you will definitely need to provide your business license, ID documents for all owners, directors, and shareholders, and details about your business such as annual turnover, capital, and credit history.
uk company bank account non-resident director: Several factors determine whether you can open a UK business bank account if your company director is a non-UK resident. It depends on the UK bank you choose and where your company is registered. For example, at HSBC non-UK resident directors can open an account if the company owner makes a personal visit to a UK bank branch and shows proof of ID and address. At Lloyds, at least one company director must have a UK residential address and visit the bank. If your company has non-resident directors, we can advise you about opening a UK company bank account.