Can a business open a business bank account without any credit history?

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Hi there, I’ve just got a single question concerning bank accounts. Say I have started a new company, but am a non-resident so have got no credit history in the UK. Will I be allowed to open a business bank account for this company despite a complete lack of credit?

Thank you for your assistance.

Answers

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The lack of credit history for a business is not a problem. It is the same for all new businesses so there are plenty bank account options available. However, as a non-UK resident, you may have difficulty opening a business bank account because most banks require at least one director to have a UK address.

Lloyds, Barclays and HSBC are your best options. If you cannot open an account with an of these banks, you will have to open a business bank account in your country of residence. This is easy enough to do if you get your company documents legalised to authenticate them for overseas use.

a year ago
 

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