UK Business Bank Accounts

Discussion in 'Growing and Managing a Business' started by tombuss, Jul 11, 2011.

  1. tombuss

    tombuss
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    Hi,

    Recently I incorporated a business within England (the UK). It is a limited company, involved in the property sector, and having been working with 3 other family members (so 4 of us total) for a long time, we decided to become limited for various reasons, including some good advice given to us by our accountant. We are each directors, with different roles and each own a 25% shareholding.

    However recently we decided to open a company bank account, but are stuck because most bank accounts available in the UK for start-up or small companies require you to have two directors or less. I've checked Barclays, Santander, HSBC and Lloyds TSB.

    Unfortunately, we are too small with too little turnover to qualify for a larger company account.

    Does anyone have any advice regarding this matter, or would it be best just to resign two of the directors?

    Thanks
     
  2. Fergal

    Fergal
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    Welcome to our Business Forum tombuss and thanks for posting your questions. There are obviously lots of companies in the UK, with more than two directors and the vast majority of them will have bank accounts. What are the banks saying to you, what are their reasons for not opening an account for you? Will they not allow you open an account at all, or is it just that they won't allow you to open one particular type of account?
     

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