Can a company have multiple business bank accounts?


Afternoon, friends! I would like to set up a business bank account, and I’m attracted by incentives at a couple different High Street banks. So, it has just occurred to me: could I open more than one business bank account? Or it that not allowed? Many thanks for the help



That’s absolutely fine. As long as you meet the criteria for each bank, you are free to apply for multiple business bank accounts. Being smart with your banking is a good way to take advantage of different incentives until they are no longer beneficial.

Multiple accounts are actually advisable if you have more than £75,000 in the bank because this is the maximum sum insured per individual per institution by the Financial Services Compensation Scheme.

a year ago

Not NatWest. I just tried and they said that their company policy was that if I was not switching then they could not "onboard" me. Gave me an excuse that it was a rule that a Ltd company is only allowed one business bank account.

10 months ago

Your answer


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