It is a legal requirement for all companies registered at Companies House to have a business bank account. This requirement ensures that directors of companies keep their personal and business finances separate, but it means that when you are setting up a new company, you need to take a good look at the market to see which bank is offering you the best business account deal.
RBS Bank is one of the biggest providers of business banking in the UK, but if you are thinking of opening an account with them, you should be aware that they will ask for a range of information from you, including details about the legal status of the business, its anticipated turnover and any funding requirements.
To open an account with the Royal Bank of Scotland, you need to present the certificate of incorporation, passport and utility bills for the each director and shareholder of your company. During the face-to-face interview with the business bank adviser, you will need to provide information about the nature of your business, your potential clients and your turnover.
Gathering together the necessary information to open a business bank account can be a frustrating experience, so to save time, why not get in touch with Coddan?