Can’t open business account, any advice?

DGDG

We have a ltd company and urgently need to open an account, however we have two directors and no bank we have spoken to (Barclays (we are premier customers privately but that doesn’t help us at all), HSBC, Lloyds, Metro, revolut) will do it. Can this be real? They say that due to covid they are only accepting online applications at this time, and that as we are two directors we can’t apply online as they would have to see both of us at the same time for a face to face meeting - which they won’t do because of covid! 

So it seems like a complete catch 22 at the moment. We urgently need an account so if you have any suggestions on how we could possibly resolve this we would be so very appreciative.

many thanks in advance 

colsten

Are you sure Revolut would want to see you face to face? They are online only, and not even a bank. Why would you consider to have your company account with any company but a bank?

There are online-only business current account providers - Starling, Monzo, Tide - though whether they are taking on new customers at this time, I don't know.

lr1277

This is not a recommendation but a suggestion. Starling do business accounts for ltd companies with more than 1 director. They say the directors can access the account but staff and external accountants cannot. I have no experience of Starling so cannot recommend them, but you could investigate them as an option.

maxximus75

I've found that Starling works well.  As long as you submit the documentation they request promptly.... you should have an account up and running within a few days and the cards only take a few days to arrive (from my recent experience).

HobgoblinBT

Who are “we”?  If you are close, eg husband and wife or close long-standing trustworthy friends, one should resign as director and shareholder if appropriate, then the remaining director opens the account.  Once open, add the other director and shareholder, if appropriate,  and tell tell the bank so you can change the mandate.  

J_B

maxximus75 said:

I've found that Starling works well.  As long as you submit the documentation they request prompty.... you should have an account up and running within a few days and the cards only take a few days to arrive (from my recent experience).

That's what we did - it was rather tedious, but we got there in the end!