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UK Branch Office Bank Acct
JonR3841
Posts: 2 Newbie
Hi,
Not sure if this is the right place to ask this but here goes.
We are a UK Branch of an overseas company and for all extents and purposes a cost center not a revenue generator in UK.
Does anyone know who I can approach to open a bank acct. as I need to have DD's paid from a UK acct not an overseas one. Have tried Lloyds they were not interested.
Thoughts please.
Advanced thanks.
J
Not sure if this is the right place to ask this but here goes.
We are a UK Branch of an overseas company and for all extents and purposes a cost center not a revenue generator in UK.
Does anyone know who I can approach to open a bank acct. as I need to have DD's paid from a UK acct not an overseas one. Have tried Lloyds they were not interested.
Thoughts please.
Advanced thanks.
J
0
Comments
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Try the other banks that offer business accounts.I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0
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Not interested means - I tried to open an account, they saw that there would be no turnover as this is in effect a cost center and said that they could not help me open an account.0
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Not interested means - I tried to open an account, they saw that there would be no turnover as this is in effect a cost center and said that they could not help me open an account.
Presumably your head office and/or any other subsidiaries or branches will have banking relationships in their home countries? If so, do any of those banks have branches in the UK that could help?
Not sure what your business is, but if international expansion is planned, then it's worth a look at banks like HSBC or Citi, who make a big play of wanting to support their customers wherever they operate from...0 -
Not interested means - I tried to open an account, they saw that there would be no turnover as this is in effect a cost center and said that they could not help me open an account.
If you want to use the account to pay for DDs, then there must be a turnover. You/your company needs to pay money in, and you pay the DDs from it - - i.e. that's turnover. Why do you need to pay your bills from a UK bank account? Where's the HQ of the company?
I think you might confuse the matter by trying to explain the UK bit of your company is a cost centre.0
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