Starting business in United Kingdom

Begin your entrepreneurial venture with confidence as we navigate the complexities of company formation in United Kingdom. Our professional consulting services are designed to ensure your success.

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How to open a bank account for business in UK?

Opening a business bank account in the UK is an essential step to streamline your company’s financial management and ensure compliance with local regulations. Below is a practical guide to help you navigate the process efficiently

List bank support open business account in UK

1. Barclays Bank

Website:

https://www.barclays.co.uk /

Incentives: Cashback for switching accounts, exclusive rewards via the Blue Rewards program.
Features: Comprehensive budgeting tools, overdraft services, and student accounts with additional perks.

2. HSBC UK:

Website: https://www.hsbc.co.uk/

Switch Bonus: Up to £200 for new customers who switch their current account (Premier account offers up to £500 for qualifying clients).
Features: Global money transfers between HSBC accounts, international banking services, and a dedicated student account with an interest-free overdraft.

3. Lloyds Bank

Website: https://www.lloydsbank.com/

Switch Bonus: £175 cash incentive for switching to Club Lloyds, Club Silver, or Club Platinum accounts.
Features: Earn interest on balances, lifestyle rewards (cinema tickets, magazine subscriptions), and access to high-interest regular savers.

4. NatWest

Website: https://www.natwest.com/

Switch Bonus: £150 for switching to a Reward Account, plus up to £36/year cashback on household bill payments via direct debit.
Features: Powerful digital banking app with smart savings tools and insights.

5. Monese (Digital Bank)

Website: https://www.monese.com /

Incentives: No UK address required—ideal for newcomers and international residents.
Features: Multi-currency accounts, low-fee money transfers across Europe.

6. Revolut (Digital Bank)

Website:

https://www.revolut.com/

Incentives: Free account opening, no hidden fees on currency exchange at interbank rates.
Features: Crypto and stock trading, travel insurance (with paid plans), and multi-currency support.

7. Monzo (Digital Bank)

Website: https://www.monzo.com /

Incentives: Instant spending notifications, smart savings “pots” for budgeting goals.
Features: User-friendly app, fee-free spending abroad, and easy bill splitting.

8. Starling Bank (Digital Bank)

Website: https://www.starlingbank.com /

Incentives: No ATM fees worldwide, no monthly fees for business accounts.
Features: Award-winning digital banking, real-time notifications, and robust business banking tools.

Requirements to open a business bank account in UK

To successfully open a business bank account in the UK, it is essential to prepare comprehensive documentation, including valid identification and proof of UK address for all directors or partners, alongside your business registration certificates and detailed company information.

Document Type

Company registration

Constituent documents

Identification/personal documents

Business information

Ownership/structure

Tax/regulatory details

Bank forms/declarations

Proof of capital/source of funds

Supporting documents (if requested)

Description/Examples

Certificate of incorporation

Articles & memorandum of association

Passports/IDs, proof of address for directors/owners

Business plan, activity description, projected turnover

List of directors/shareholders

TIN, VAT, CCSS number, licenses

Application forms, KYC/AML, letter of motivation

Bank statements, contracts, investment agreements

Major contracts, client/supplier info, organization chart

Our specialists advise:

If your goal is to maximize cash incentives and access comprehensive traditional banking services, we recommend opening a business account with trusted high street banks like Barclays, HSBC, Lloyds, or NatWest. These banks offer competitive switching bonuses and robust financial tools to support your company’s growth in the UK.

For businesses that prioritize digital banking features, fast account setup, and international transactions, challenger banks such as Monzo, Starling Bank, Revolut, and Monese are excellent options—especially for non-UK residents and remote businesses. While these digital banks often offer low or no interest on current accounts, they excel in mobile-first experiences, smart budgeting tools, and fee-free global payments.

If you're unsure which option is right for your business or need step-by-step assistance with the account opening process, our team is here to help. We offer tailored consultations to match your corporate structure with the most suitable banking solution in UK

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