Opening a bank account in the UK is not as straightforward as you might expect. Because of English anti-money laundering legislation, foreign nationals are at a disadvantage when opening bank accounts: they must provide proof of identity and proof of residence in the UK (Proof of Address).
Acceptable Proof of Identity includes, for example, a passport, national identity card, a British or foreign (e.g. Slovak) driving licence, a residence permit, or confirmation of your tax reference number from the tax office.
To provide Proof of Address, you will need, for example, a British driving licence showing your address, confirmation of an account held with another bank or a bank statement, a tenancy agreement, a utility bill (an electricity or gas bill for a UK address), or confirmation of payment of the TV licence in the UK.
To open an account in the UK for your company or for yourself, you can make use of our services; for further information, please get in touch via the contact form.
Preparing to Open a Bank Account in the UK
A UK bank account can be very useful for anyone living, working or doing business in the United Kingdom. Banks are, however, required to carry out thorough checks on new customers to comply with rules on preventing money laundering and fraud. Being well prepared makes the process far smoother, particularly if you are new to the country or live abroad.
Personal and Business Accounts
Opening a personal account and opening an account for a company are different processes. For a personal account, the bank will focus on your identity, address and circumstances. For a business account, the bank will also want to understand the company, who owns and controls it and what it does. Requirements vary between banks and may depend on whether you are resident in the UK.
What Banks Commonly Ask For
- Proof of identity, such as a valid passport
- Proof of address, often recent and in your name
- For companies, incorporation documents and details of directors and shareholders
- A description of the business and its expected transactions
- Information about the source of funds
Each bank sets its own policies, so a document accepted by one may not be accepted by another.
Challenges for Non-Residents
People who have only recently arrived, or who manage a UK company from abroad, sometimes find it harder to provide proof of a UK address or credit history. Some banks offer accounts specifically for international customers, and some electronic money institutions offer business accounts with simpler onboarding, though their services and protections may differ from those of traditional banks. It is worth comparing options carefully.
Presenting Your Business Clearly
For business accounts, a clear explanation of what your company does, who its customers are and where money will come from and go to helps the bank assess your application. Inconsistent information or a structure that is difficult to understand can lead to delays or a refusal.
Supporting Documents From Abroad
If your documents were issued outside the UK, the bank may ask for certified translations or legalised copies.
If you are setting up a company in the UK and need help preparing for a bank account application, contact eTuls. We can assist with company documents, apostilles and the information banks typically request.