Establish a Company With UK Banking Account

Company formation and opening a bank account is an important step for any new business in the United Kingdom. Companies, limited liability partnerships, and any other legally established business entity must operate a business bank account so as to ensure that the funds of the business are clearly separated from personal funds. This is especially important for small business and will assist in the administration of a business. The key features and advantages of a business bank account are as follows:

• The freedom to manage company funds via internet and telephone banking
• The ability to receive payments from clients via cheques and electronically
• The ability to make payments to suppliers and employees via cheque and electronically
• The option of opening accounts in foreign currencies
• The ability to keep personal and company funds clearly separate

Generally, UK companies operate business accounts with UK banks, the opening of which requires the directors to visit the bank in person. Coddan offers a comprehensive and thorough bank introduction service. Because we screen applications before we accept clients for these services, we are able to guarantee a business bank account in the United Kingdom.

It is, of course, possible for companies to arrange the opening of their own business bank accounts, if they have the time and energy for the comparison of their options and completion of the many formalities, and thus save themselves a professional fee. Most of the major UK banks offer online application forms on their websites, which can be used to begin the process.

Our service is much more than the completion of an application form that is offered by some other providers. Our banking introduction service is tailored to those clients who are either too busy, or too uninitiated with the banking system in England to commit to a bureaucratic process, and who require an expert to act on their behalf.

What Coddan offers is a professional service that includes all of the varied formalities that prefigure the actual opening of the account, which is, in-itself, the simplest, and final step of a convoluted process; and is the only step that you need be directly involved in.

The main reason that Coddan is in a position to offer such a streamlined service to our clients is that we have invested considerable time and energy in developing close relationships with officers from all of the major High Street banks; we know the advantages, disadvantages, and requirements of the different options available, and can therefore streamline the process by introducing your company to the bank and services that best serve your needs.

In an attempt to prevent fraud, stringent regulations exist in the Great Britain. Security procedures have been implemented which can lead to delays for overseas clients who try to open an account personally on arrival, and it is very difficult indeed for an individual or business to open a bank account from overseas.