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Coddan offers our international customers the bank introductions to all of the major UK banks, including: Barclays International and RBS International. We can also provide introductions to local branches of foreign banks.
The cost of our bank introduction service depends on the types of services that your limited company requires from the bank, and upon the particular bank that you wish to use.
Coddan has worked hard to build excellent professional relationships with banks in order to provide a full range of bank introduction services to our foreign clients (we have a number of signed contracts between us and UK-based banks, which allow us to offer a bank accounts opening introduction services).
We are committed to maintaining these relationships, and for this reason we must be satisfied that your company plans to act in an exemplary manner with respect to bookkeeping, and the filing of annual returns and reports, before we will agree to provide these services. To open a bank account you will need to provide with certain information including:
If your application is successful, your bank account will be opened, your debit and credit cards will be sending to you, & the bank provides you with details of the account benefits and how to easily operate your account.
Being the authorised agent, we are charging our non-UK based customers for the bank introduction service from £1,000. Using us is a little bit expensive, but at the same time, you will have the real advisor, who will help you to choose the bank, which suits your business needs.
Our bank introduction fee also covers an initial consultation & the appointment with the bank officer who will be able to open a business checking account for your company within one business day.
If you require opening a bank account in the UK, then, your personal visit is required.
Coddan may also provide you with the UK bank introduction service for companies which were not registered in UK (companies incorporated offshore, USA, other EU countries), considering that your company can confirm to the bank why the UK bank account is essential for the business. The cost of this service will depend on bank and work involved. The minimum charge for this service is from £400.00
At Coddan, our aim is to make the whole process as quick and painless as possible. Through our knowledge of local banking regulations and our relationships with major banking groups, we help our clients to cut through the red tape and progress as quickly as possible.
Generally, bank account operating manager(s), who can be a private company director(s), member(s), or an authorised person with a valid power of attorney, requires visiting the bank in person to certify bank accounts forms and mandates.
It is, however, possible to open some types of bank accounts by distance, without the need of personally visiting the bank. This is not our common practice, we are understandably reticent to provide distance banking introductions unless we are completely satisfied that your company plans to meet all of its tax and reporting responsibilities, and to adhere to all relevant UK regulations.
If your company or a UK incorporated LLP requires having a merchant account in the UK, we can help, if your company has a business account in the UK. We can help to open a merchant account for behalf of the UK registered company outside of the UK, and to have such merchant account for your business you do not need to have a business bank account with the UK local banks. Contact us to see how we can assist you.
In addition, you will need to supply us with a convincing argument for your inability to travel to London to open a bank account in person.
Companies who plan to remain dormant status will not be offered any bank introduction services by Coddan, as there are no valid reasons for a dormant company to open and operate a business bank account. For more information e-mail us or call: +44 (0) 330.808.0089 or +44 (0) 207.935.5171, or send a fax: +44 (0) 207.504.3531.
Over the years, we have established a wide and varied client source ranging from private clients to developers and from solicitors to bookkeepers and international traders. Each client is particularly important to us and we do all we can to give the best service that we can, endeavouring to ensure 'word of mouth' recommendations and repeat business. Since the company began, Coddan has been under the same management and delights itself on its reputation for quality of services and clients satisfaction.