Extra Direct – Frequently Asked Questions

Please find below a selection of Frequently Asked Questions for the key areas of our business,
if you cannot find the answer to your question then please email us directly at admin@extradirect.com

  • Can you open an account for an MSB?

    The simplest answer to your question is YES, however none of the mainstream banks in the UK have an appetite for an MSB business.

    As things chanage on a regular basis, contact us directly to see what best options will be available for you.

  • I have been bankrupt, so can you still help me?

    YES – We have a number of business banking partners who will base their decision on the activity of the business and turnover, not on any past credit problems.

    There will be no need to perform a credit check meaning they will often not even want to know about your bankruptcy.

  • Can I open a business account as a Non resident?

    Yes – We will be able to help you open a new business account here in the UK providing you can be fully identified and you have a registered business.

    No UK visit required too, as we can do everything remotely without the need to travel

  • It's a new business so how can they decline it for credit reasons?

    The simple truth is that even if you have a brand new business all the mainstream banks will still need to do their checks on the Directors, Shareholders or Owners of a business, so you will most likely discover it is not the business that has caused the problem but one of the owners or main principles of the business.

  • I have an Adult Entertainment business, can you help?

    Adult Entertainment business do cause more issues than most, as only a few of the providers we work with will even consider an application, so whilst there may be some options, there will almost certainly be some restrictions.

  • We're a large corporate that has had our HSBC account close, what can you offer us?

    We have a number of options available depending on your individual circumstances, but we do have access to larger corporate accounts that will almost certainly be able to accommodate your business by offering full UK banking facilities.

  • I deal with Crypto currencies and everyone is declining me, so can you help?

    Yes we can help with some Crypto related businesses, however none of the mainstream of high street banks would be prepared to accept an application.

  • As a non resident, will you open a high street account?

    No, as the quickest and easiest options are based on online business accounts, allowing you full access to a UK account without the need to travel to the UK and opened within 2-3 days of applying.

  • Does anyone else have access to my account?

    No – Once your account has been opened only the Director or Applicant will have any access to your new business bank account.

  • What proof of ID is required to open a business account?

    Generally speaking you will need to provide a two forms of Proof of Address (home utility bill, personal bank statement or other official document) clearly showing your home address and dated within the past 3 months, plus you will need to provide some photographic ID like a valid passport or full driving license.

  • I have a gaming business but none of the banks will give me an account, can you help?

    We can help open a business account for any high risk business, including a gaming business.

    With Gaming there are always issues depending on whether or not there is any ‘gambling’ involved, so some businesses in the gaming world could have an issue even if they don’t look to offer any gambling.

  • How much does it cost to open a business account?

    Every business and bank is individual and unique, with no two the same, meaning the cost and process to open any account will vary from one application to another.

    However, we never charge to obtain a decision in principle, so contact us and we will confirm everything before you have to spend any money.