Business Banking

In this article, we will cover:

1. Banking options available for UK residents
2. Banking options available for non-UK residents
3. How to add a business banking referral when forming a company
4. How to request a banking referral after your company has been formed

1. Banking options available for UK residents

We offer a range of business banking referral options for UK residents. Each option has its own features, eligibility criteria, and application process, so it is important to choose the one that best suits your business needs.

To help you compare the available options, we have provided a table below outlining the key details for each banking referral. This should help you identify which provider may be the most suitable for your company.

2. Banking options available for non-UK residents

For non-UK residents seeking a business banking solution, we currently recommend Wise.

Wise offers a business account with no monthly fee, making it a suitable option for business owners looking for a cost-effective way to manage international payments.

It supports residents in over 40 countries and allows users to hold and manage more than 40 currencies. This includes access to account details in major currencies such as GBP, EUR, USD, AUD, CAD, NZD, and SGD, among others.

If you operate internationally or expect to send and receive payments in multiple currencies, Wise may be a practical option to consider.

3. How to add a business banking referral when forming a company

UK customers

When applying for any of our company formation packages, except the Limited by Guarantee package, you will be given the option to select your preferred banking referral during the application process.

Once your company has been formed, your chosen banking provider will contact you directly with the next steps for opening your account.

Non-UK customers

A referral to Wise is automatically included with our Non-Residents package. Shortly after your company is formed, you will receive an "Order Fulfilment" email containing details of the services included in your package. This email will also include your Wise referral link, which you can use to apply directly.

4. How to request a banking referral after your company has been formed

UK customers

To add a banking referral, log in to your dashboard and select the My Companies tile. Then click on the company you wish to add the referral for and open the Getting Started tab.

Here, you will see the banking referrals available for your company. Simply select the option you would like to add, proceed to checkout, and complete your order.

Once this has been completed, the bank will usually contact you directly within around three working days.

Non-UK customers

Non-UK customers can apply for an account using our referral link here.

*Please note: All bank account applications are subject to approval by the relevant bank. For full details of each account, including eligibility, required documentation, and available features, we recommend contacting the bank directly.