Before you open your new account, your new bank or building society needs to carry out security checks, so you’ll be asked to provide a variety of information and documentation, such as:
- The name of your business or charity
- Your trading address
- Funding requirements
- A Companies House registration number
- An HM Revenue & Customs certificate
- A recent utility bill or statement relating to the business.
You may need to provide other documentation if you are a:
- Sole trader
- Limited company
- Pension scheme.
Your new bank or building society may also ask for personal information from you and any business partners or directors, along with a passport, driving licence or bank statement.
To keep things stress-free, contact your new bank or building society first to find out what documentation they’ll need.
For the first time, 18 UK business bank account providers have agreed to a basic set of information that they will need from customers to help them set up a UK business current account. This has been done in conjunction with UK Finance, the UK’s leading trade association for the Financial Services Industry.
The full list of information you need to provide can be found here.
Your transaction history on your old account won’t be transferred through the Current Account Switch Service. If you’d like your old statements get in touch with your old bank.