. As you may be aware, it can be quite difficult to set up a bank account in the UK. However, thanks to our relationship with HSBC, NatWest, Royal Bank of Scotland banks we can help you set up an account quickly and easily. Once you arrive in the UK, we will organise for you to meet a bank representative in order to arrange a bank account. Have the right documentation with you. All banks will require you to prove that you are a business. Eligibility requirements and the required documentation to open a business checking account vary by ownership type.
Provide a certified copy of the fictitious name certificate if you are a sole proprietor and the account title is a business name other than yours. You must put your signature on file and you may authorise additional people to sign checks. Provide a certified copy of the fictitious name certificate for any business whose account titles are different from the names of the owners. Place on file with the bank the signatures of those who will be granted access to the account. Each signer must provide two current pieces of identification that include the signer's signature.
Accounts opened by post take approximately 7-12 working days. Where we arrange your bank meeting, accounts are opened on the same day. The declining of an account occurs in less than 1% of all the applications we process on a bi-monthly basis. Reasons for a declined account may include a bank phasing out a particular account before we are aware of their product changes. The client would therefore be placed with a new account which is subject to all the stringent credit checks. In this situation we give the client the option of a 100% guarantee, or we place them with a second bank where they will be accepted. If you have further questions contact our customer care team.
Choose one of the following packages that will best serve you:
Further information
Opening a bank account in England is not easy but it can be done! Due to the high occurrence of fraud, banks are tightening applications for new accounts. You will usually need to present proof of identity (usually a passport), a letter of reference from your bank at home, proof of current address (such as a gas bill, phone bill or letter from your landlord or hostel/hotel that you are staying at), and proof of employment. Most employment agencies will give you a letter to state that you are working for them and you can present this letter at the bank. Some banks are more lenient than other banks, so it is best to go to several different banks, or bank branches. Usually the smaller banks and building societies are more welcoming to new accounts, but the larger ones can sometimes offer more services.
The major banks include Lloyds, Midland, Nat West, Barclays and the Bank of Scotland. The two most common types of accounts to open are either a savings or a cheque (current) account. You should obtain an ATM card with your savings account so you can withdraw your money at anytime. You might want to check if this ATM card is accepted in Europe as well, as that is a good way to travel without carrying cash. With a cheque account, you will need a cheque guarantee card with a fixed limit. This is to be produced when you are paying for goods by cheque and guarantees your account can cover any cheques you have written. You can also open an account with a British bank before you come over to England.
Opening a bank account is not really complicated, but it can be difficult for foreigners. You must take along with you proof of identity and proof of address (passport, driving licence, bill from a company with your address on it).
You will also need a recent account statement if you hold an account with another bank or building society (or details of your bank abroad). You have a difference between a Debit Card and a Credit Card (Visa or Master Card). With the first one, your money will be debited directly from your bank account; with the second one, you are debited from a specific account, that you will pay back according to your wishes and in agreement with the bank (you may get gift points for use). You negotiate an overdraft limit with the bank. If you pass this limit, a global penalty will be applied (about £20), you will pay a penalty for every item up to the limit (about £20 per item), and of course a high interest rate (20%/year).
Some banks enable you to open a bank account in the UK from your home country.
Generally they will require you to make a sizable initial deposit in the UK account. You will also need an account established with them in your country. A popular and recommended option is to purchase a bank package prior to your departure that will allow you to open a UK bank account upon arrival. A bank package effectively eliminates the banking worries from your overseas trip by arranging everything for you and ensuring you are able to open a bank account, with a well-established London high-street bank, as soon as you arrive, job or no job, lease or no lease. It's very easy and makes settling in to your new country more enjoyable. Should you choose to wait until after your arrival to the UK to open a bank account, be prepared for delays and good potential for a lot of difficulties. In order to open a UK bank account, you will first need to acquire a job and a lease (with bills in your name).
It may aid the process if you were to bring a letter to the UK from your current bank branch in your home country stating how long you have been a customer and that your account is in good standing (hopefully!) If a letter of that type cannot be obtained, bring a recent and original banking statement ensuring that both your name and home address are shown on it.
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Certificate of Incorporation and Certificate of Good Standing. The opening of a UK business bank account will require all directors to be present, thus reasonable notice must be given in order for meetings to be arranged. Once the procedure commences at the bank it will only take approximately one hour until completion, your account will then be activated during that same day.
USA Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Copy of Drivers License. Social Security Number of all signers (US Citizens). Copy of Passport, with photo also please list address of record. Email address, website address. Certified Copy of the Certificate of Incorporation. Copy of By-laws (Operating Agreement or Partnership Agreement). Copy of company business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Certificate of Good Standing.
BVI Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Belize Bank Account
£ 250.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Cyprus Bank Account
£ 600.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Gibraltar Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Hong Kong Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Nevis Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Panama Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Seychelles Bank Account
£ 400.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Utility Bills issued within the last three months with the applicant’s current address. Business card with name and title of principal signer. Detailed description of business type - nature of business. List location of primary trading area. Signed local bank reference letter from Officer of your current bank - translated in English. Local professional reference letter from your Accountant - translated in English. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
Lithuania Bank Account
£ 200.00
In order for us to open a bank account for the company or partnership we will need the following items: Drivers License and Passport, with photo also please list address of record. Detailed description of business type - nature of business. List location of primary trading area. Certified and Apostilled Copy of Certificate of Incorporation, Memorandum and Articles of Association, and Certificate of Good Standing. You never actually have to visit your offshore bank. You can simply bank from wherever in the world you live, via Internet, e-mail, post or telephone.
OPEN UK BANKING ACCOUNT: OPENING A BUSINESS ACCOUNT IN ENGLAND - ESTABLISH BUSINESS ACCOUNT IN LONDON, OPENING A SMALL BUSINESS BANK ACCOUNT.
Opening a Small Business Bank Account: Big 4: Royal Bank of Scotland, Barclays, Lloyds TSB, HSBC. The government has forced the top UK banks (above) to offer all small businesses interest accounts, at 2.5% below the bank base rate, or an account that offers free transaction charges.
Why do I Need a Bank Account? Everything you do in business revolves around money. This money needs to be identifiable at every stage of the transaction and of course the money also needs to be identifiable from your own personal finances. Opening a business bank account is the simplest way to achieve accountability and provide a good degree of transparency in your business dealings to enable government departments, creditors and auditors to accurately assess your business. A business account will also give you credibility as your bank has, to a degree, assessed and accepted your business proposal. How do I Open an Account? If you wish to open a business account Click Here to Complete Our Online Application Form
I Have a Bad Credit Record. What Can I do? Business bank accounts are not as difficult as personal accounts to open. There are numerous reasons for this but we only need to focus on one at this time: business accounts are profitable (for the banks of course). That is not to say that anyone can get a business account, but if you have a business plan and it is viable, with the bank not having to fund you or provide you with anything more than a business cheque book, acceptance should be a formality. Paying in an initial deposit can only help.
UK Corporate Banking. We are leading UK bank intermediaries, being registered with most UK banks for the introduction of corporate clients. Our service is comprehensive and whilst often linked to the formation of a Limited Company, we are able to arrange business accounts for any type of organisation including PLC's, Limited Liability Partnerships, Guarantee Companies, Charitable Companies, Unlimited Companies and Sole Traders.
GUARANTEED BUSINESS BANKING IN THE UNITED KINGDOM:
1. Issued by NatWest, Lloyds TSB, HSBC, Barclays etc. 2. Cheque Book issued immediately. 3. Standing Order & Direct Debit facility. 4. No minimum balance or deposit requirement. 5. Corporate VISA and MasterCard available (Subject to Status). 6. Internet Banking facility. 7. Available for Sole Trader, Partnership, LLP and Limited Companies. 8. Guaranteed Acceptance.
Key Features and Benefits of the Business Bank Account:
Freedom to manage your money on the internet or by telephone as well as at your branch, at no extra cost. Make and receive payments - via cash, cheques or electronically. Option to open accounts in a number of foreign currencies. Easy to keep track of your finances - by online internet, telephone banking and regular statements.
UK Banking - Open a UK Bank Account: A business account will also help give you credibility as the bank has to a degree assessed and accepted your business proposal.
One of the most important factors when selecting a bank is to find a bank you feel comfortable dealing with, as relationships are crucial. Seek advice and recommendations from professionals such as your lawyer or accountant.
Aim to develop a good working relationship with your bank manager. The relationship between you and your bank is like any other partnership. The better the match, the smoother it runs.
If you are setting up as a limited company, you need to have set up the limited company before your visit to the bank.
British banks, in common with their counterparts across the globe, have introduced new regulations about opening new bank accounts. Security procedures have been implemented which can lead to delays for overseas clients who try to open an account on arrival. It is almost impossible to open a UK bank account whilst you are overseas.
To open a bank account a student will need to show the following identification:
Passport. Driving License. Proof of your home address. Proof of UK address, usually in the form of a utility bill or Halls of Residence contract.
It is useful to get a reference from your existing bank in your country (in English) and/ or ask them to write to you at your UK address.
Each branch of each bank makes an independent decision on whether to accept new customers and there is no particular bank that has a better deal for international clients.
Accounts: Deposit Account or Basic Account: International students may find that some banks will offer them only one of these types of account. A deposit account, sometimes called a savings account of a 'basic bank account', may offer a cash card and will pay additional money to you ('interest') based on the balance in your account. When opening an account check the procedure for taking money out of the account. There may be restrictions.
Information about rates of interest is published regularly in the business section of newspapers. You may be able to prevent any tax being deducted from your interest - ask your bank or building society for form R105 which you can complete when you open your bank account.
Current Account: A current account may offer a cheque book, cheque guarantee card, cash card, debit card, overdraft facility, and direct debit and standing order facilities. Some accounts pay interest, although this is usually at a lower rate than a deposit account. You should ask the bank which services would be available. Some banks will not allow international students to open a current account and you may only be allowed to open a 'basic bank account'. It may be possible to change your account to a current account after a period of time.
Transferring Money to the UK: The easiest way to send money is by electronic transfer of funds from a bank in your home country into your UK account. To do this the bank in your home country will need:
Your UK bank's name and full address. Your name as given on your UK bank account. Your UK bank account number. Your UK bank's sort code.
Money can also be transferred using a banker's draft. This is a document drawn up by the bank in your home country and sent to you by post. You present the banker's draft to your bank in the UK.
Our Service
We provide a fast online service for company registration, LTD company formation, and business incorporation in England, Wales and Scotland. When first setting-up a business there are many issues to consider. You need to decide whether or not to incorporate your business, and to choose a structure for your business. There are several types of legal business entities which you can choose to operate as. For more information on these choices, follow the links below. We advise that professional legal and financial advice is obtained before a final choice of business entity is made.
Coddan is a leading service provider in the field of English, Scottish and Irish company formation and company registration. We can help you in starting a business in England & Wales Scotland and Northern Ireland. Over 95% of our companies are incorporated within 6 hours. The electronic submission of information enables a fast company start-up satisfying all of the required legal formalities: a director, a secretary, a registered office and shareholders. Our electronic filing software has been approved by Companies House.
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Before you transfer money, ask what charges will be made by the banks and how long it will take. Try to plan your finances so that the time taken to transfer money and the charges involved do not lead to you experiencing financial problems. If someone transfers money to your account they should keep a copy of the relevant documents in case there is any dispute with the bank in the future.
Running Your Account: Once you have opened an account keep a record of the money that you pay into the account ('deposit'), and of the money that you take out of the account ('withdrawals'). This includes recording money you take out from bank machines, cheques that you write, purchases you make with a debit card, and standing orders and direct debits. Check your records against each bank statement you receive. This will help prevent problems arising with the bank. It will also help avoid experiencing financial difficulties.
Setting Up Your Bank Accounts
Opening a Bank Account in the UK
£ 250.00
In order for us to open a bank account for the company or partnership we will need the following items:
+44 (0) 141.530.8188 
+44 (0) 289.099.8744 
Freedom to manage your money on the internet or by telephone as well as at your branch, at no extra cost. 
A business account will also help give you credibility as the bank has to a degree assessed and accepted your business proposal. 
