Can a company have multiple business bank accounts?

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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

Answers

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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
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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
 

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