We are often asked if we can Open a Business Bank Account today, but answering that is not as simple as it may sound.
We do have some partners who will Open a Business Bank Account today, however it would be impossible with any mainstream banks.
The normal practice for any high street bank is to first complete a form and then make an appointment to present yourself in person.
There could lie the problem for those wishing to open a Business Bank Account today.
The reason being that it could take weeks just to get an appointment with the high street banks.
So with a wait time of between 2-4 weeks, it really prolongs the application process.
Even then, you would very rarely get a firm decision, as they would then perform all the necessary checks.
Assuming all the checks were clear, then you may then final confirmation your account is opened.
However, if they find any adverse credit on any of the directors or main shareholders, your application could be declined.
Which means you would be back to square one in the application process.
So what options are there to Open a Business Bank Account today?
There are a number of new online business accounts which could be opened in a day.
Every one would be fully regulated by the Financial Conduct Authority (FCA)
Plus all funds would be securely held within one of the UK’s Clearing Banksmeaning your funds will be fully segregated.
They would still need to perform the necessary identity checks on all the directors and main shareholders.
However they very rarely perform a credit check, meaning even those with adverse credit will be accepted.
With these new types of business accounts you can still expect to get all the essential functionality of a normal bank account.
So you will have your own account number with sort-code, online & mobile banking, debit type bank card along with many other features.
It is often also possible to set-up Direct Debits and Standing Orders with some offering cheque & cash deposits.
So whilst not directly with a main stream bank, your money will always be held within one.
So if you need to Open a Business Bank Account today, contact us today on either 020 3286 3929 or click here to Apply Online