There are some options to open a bank account for CBD oil company, providing you are trading legally.
Even though the high street banks are not willing to open a bank account for a CBD oil company, there are some banking providers that will.
Due to the close links to Cannabis, many of the main stream banks will not accept an application for CBD oil company.
This is mainly down to the fact it is too closely linked to what they would consider high risk.
Despite the fact CBD oil is being more widely used within the medical world, it can still be very difficult to open a bank account.
So what are the options to open a bank account for a CBD oil company?
The best current options come from a number of online business banking providers who will accept a CBD oil business.
Every one of these online banking providers will be fully FCA regulated and offer full online banking facilities.
You can expect to obtain a UK Sort Code & Account number, with online and in most cases mobile banking.
You will be able to full Internet access and make Faster UK Payments direct from your account.
Whilst they will generally only allow you to make & receive electronic payments, there are some options that may also allow cheques and cash to be deposited.
If you are a UK resident you can also expect to receive a bank or debit card to use with the account.
Some options may also allow you to set-up Direct Debit and Standing Order payments too.
With online and mobile banking, you can access your account regardless of where you are in the world.
As CBD Oil is one of those products which is classified as higher risk, your options will almost certainly be restricted.
Having said that, with all of the options available, you will still be able to run & operate your business.