This online guidance is designed to help businesses seeking to open and run an account with a bank in the UK.
The banking industry is required by law to comply with Know Your Customer (KYC) and Money Laundering Regulations
The banks are required to understand the source of any funds that will be placed within the business account
On completion of the above the bank will undertake a review of the information provided including relevant security, identity and credit checks.
If the bank you approach advises that they are unable to help with a business account you can seek alternatives at www.betterbusinessfinance.co.uk and www.businessbankinginsight.co.uk
If you are not happy with a decision a bank has made about your account or a transaction the best first course of action is to speak to your bank.
At times banks may take a decision to exit or cease a relationship. This decision will not be taken without full consideration from the bank and can be driven by a range of factors.
Please find below a list of on-line application portals for UK business bank accounts. You can also find out more by using the Better Business Finance Account Finder or by visiting www.businessbankinginsight.co.uk
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