How many bank accounts can I open for my company?

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My business partner and I are curious: can a limited company set up more than one business bank account? Simply need to know whether this is illegal or frowned upon. Cheers.

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You can open more than one bank account for your business, just as you can open multiple current accounts as an individual. It is an acceptable and common thing to do, especially if you have more than £75,000 in the bank - this is the maximum cash sum protected per account holder per bank by the Financial Services Compensation Scheme (FSCS).

a year ago
 

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