Business Bank Account for MSBsAre you a Money Servcie Business and need a Business Bank Account?
Business Bank Account for MSBs
It can be very difficult, if not impossible, to open a new Business Bank Account for MSBs as all the mainstream banks regard these as too high risk and will almost certainly decline any new applications.
They are also know to have been very proactive in closing any Business Bank Account for MSBs that they do have opened, making it very difficult, if not impossible, even for an established business to continue to operate.
As such, it is fair to say we would not be able to open an account for you with any of the mainstream banks, HOWEVER we do have options that will consider an application for an MSB business provided they are regulated by the FCA either directly or indirectly.
There will almost certainly need to be some compromises, but in most cases these are minimal but as long at it allows you to continue trading, it means you can continuously look for either an additional or alternative account to help support and protect your business.
For more information please call 020 3286 3929 or Apply Online Here
How to Open a Business Bank Account for MSBs
The key to significantly increasing your chances of opening any business account facilities is to ensure you have full identification documents for all the main principles and that you have proof of business activity, as this will often give a great deal of comfort to any potential banking provider.
Whilst you may not have the choice and variety of options normally made available, there will almost certainly be options available that are based in the UK and offers essential key elements like sort-code & account number, meaning you can easily trade within the UK without fear of expensive International payments.
As with all applications for a Business Bank Account for MSBs the key principles will need to undergo the usual identity and proof of home address checks, meaning your application would be treated like every other applications, however assuming everything is in order and the business is a genuine trading money service business and is regulated by the FCA, then there should be no reason why we would not be able to assist you in opening a new business account.
Business Bank Account for MSBs – Contact us on 020 3286 3929 for more information
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