If you want to start your business in the UK you may want to establish a bank account. There are hundreds of banks in the United Kingdom that have different requirements needed to open an account. Some banks will allow you to open basic accounts and others will allow more services. Each bank has its own requirements, so you may have to do some research in order to find a bank that best fits what you are looking for.
Your best bets are to call around or visit bank websites to see if they have what you are looking for. One of the things that you want to make sure of is that they have locations globally. If you decide to take a vacation to another country, you want to make sure you can access an ATM in case of emergencies. With electronic banking becoming more popular, you want to see if they offer online banking. Some banks have Online Fraud guarantees, making online banking safe for everyone.
The benefits of online banking are that you can pay your bills from the privacy of your own home; you can see your balances before you write a cheque. You can make your payments in currency or Sterling. But there are still good old fashioned walk in banks. Some banks depending on your credit or your past banking experiences will offer you a basic bank account; this means strictly withdrawals and deposits. You can have direct deposit with a standard bank account.
Some banks will require you to bring documentation to show how much money you are going to be bringing in every week. If you bring in a certain amount of money you may be able to upgrade to a better account with more services. You will need a photo ID, proof or residence and proof of birth as additional information to get an account started.
Some other acceptable pieces of ID are Passports, National Identity Cards, and Residence permit issued by the Home Office to EU Nationals or a National Drivers License. Before heading over to the bank call and ask them what forms of ID they find acceptable.
In the case where you are new to the United Kingdom and you have never had a bank account before, the banks will require the proof that we just mentioned. Bring as much documentation as you can to get the process started. In some banks it could take a few days to set up an account and it may take one day to open your account. Don't panic if one bank turns you down, not all banks follow the same criteria when it comes to accepting bank applications.
Your best bets are to call around or visit bank websites to see if they have what you are looking for. One of the things that you want to make sure of is that they have locations globally. If you decide to take a vacation to another country, you want to make sure you can access an ATM in case of emergencies. With electronic banking becoming more popular, you want to see if they offer online banking. Some banks have Online Fraud guarantees, making online banking safe for everyone.
The benefits of online banking are that you can pay your bills from the privacy of your own home; you can see your balances before you write a cheque. You can make your payments in currency or Sterling. But there are still good old fashioned walk in banks. Some banks depending on your credit or your past banking experiences will offer you a basic bank account; this means strictly withdrawals and deposits. You can have direct deposit with a standard bank account.
Some banks will require you to bring documentation to show how much money you are going to be bringing in every week. If you bring in a certain amount of money you may be able to upgrade to a better account with more services. You will need a photo ID, proof or residence and proof of birth as additional information to get an account started.
Some other acceptable pieces of ID are Passports, National Identity Cards, and Residence permit issued by the Home Office to EU Nationals or a National Drivers License. Before heading over to the bank call and ask them what forms of ID they find acceptable.
In the case where you are new to the United Kingdom and you have never had a bank account before, the banks will require the proof that we just mentioned. Bring as much documentation as you can to get the process started. In some banks it could take a few days to set up an account and it may take one day to open your account. Don't panic if one bank turns you down, not all banks follow the same criteria when it comes to accepting bank applications.
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