Will I need a certificate of good standing to open a business bank account?

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I’ve been looking into business bank accounts for my company - just been using one of my personal accounts for the past few months. Will the bank want to see a certificate of good standing before giving me an account? My friend said this was absolutely necessary and that he had to get one, but I’ve never even heard of this kind of thing.

Cheers,

Answers

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Hi Ethan,

No, you will not need a certificate of good standing to open a business bank account, unless the bank expressly asks you to provide one. It would be unusual for them to do this but it can happen in some situations.

What some banks will ask for, however, is a copy of your incorporation documents - the certificate of incorporation, share certificates, and the memorandum and articles of association.

These documents are a matter of public record, which means they can be accessed free of charge online. As a result, many banks just download the required documents online, so you may just be asked to provide your company name and registration number.

10 months ago
 

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