How many people does it take to open a business bank account?

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Just opened a limited by shares company by myself. Do I need to have another person help me to open a business bank account for that company, or can I just do that by myself, too? Thanks a million.

Answers

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You can open a business bank account on your own, that’s not a problem. If someone operates a sole trader or a sole director limited company, there’s only going to be one person involved in setting up a bank account.

To open a business bank account, you will need to provide your company formation documents, along with photo ID and proof of address for yourself. A credit check may also be carried out.

If you ever wish to add a new director or additional signatory to your account, you will have to complete a mandate for the bank with details of the new signatory. Photo ID and proof of address will also be required.

a year ago
 

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