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Applying for a business bank account in the UK.

Applying for a UK business bank account is a straightforward process, but the exact steps and requirements depend on your business type, residency status, and chosen bank.


This post will help you to understand what you may need to have readily to hand before applying for a business bank account.


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Choose the right banking provider


Choosing the best UK business bank account depends a lot on how you run your business — what your priorities are (low fees, international payments, cash handling, lots of users, etc.).


You can choose from:


  • Traditional Banks - like Barclays, Lloyds, HSBC, NatWest, Santander

  • Challenger Banks - like Anna, Monzo Business, Starling Bank, Revolut Business

  • Fintech Providers - like Wise (formerly TransferWise) or Payoneer (for international businesses)


Each has different features, fees, and approval processes. If you would like a referral to Anne or Barclays please get in touch at support@theformationcompany.co.uk

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Check eligibility requirements


Common basic requirements:


  • Company is registered in the UK - must be a UK LTD, LLP, or sole trader

  • At least one UK resident director - some banks require this, especially traditional ones

  • Business activity is legal and verifiable - no high-risk or restricted industries (e.g. gambling or crypto which may face restrictions)

  • Proof of ID and address - required for all directors and PSCs



Prepare the Required Documents


Typical documents you'll need:


  • Certificate of Incorporation, which is provided when you incorporate you company

  • Company details - name, registration number, business address

  • ID for directors & PSCs - passport or driving license

  • Proof of address - recent utility bill, bank statement, or tax letter (last 3 months)

  • Business activity details Description of what your company does

  • Estimated turnover - often asked during the application


Tip: Challenger banks like Anna, Starling, Tide, or Monzo offer same-day account opening in many cases, especially for UK residents.


Traditional banks: Can take 1–2 weeks due to compliance checks.



If you're a Non-UK resident director


It gets trickier if no director lives in the UK, but still possible. Providers include Wise Business, Payoneer and Revolut Business.


You may need to provide:


  • Notarised ID

  • Apostilled company documents

  • Proof of overseas address



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