Business bank accounts

If you are operating as a limited company, you will also need to set up a business bank account to enable your company to receive payments.

A limited company is a separate legal entity from its directors and shareholders, so the company’s money needs to be traceable throughout every stage of any financial transaction.

Setting up a business bank account is quite straightforward. For many new business start-ups, their first thought is to approach the bank which handles their personal money.

This may be the most convenient and quickest option, because your bank knows you and can easily validate your identity. However there are plenty of other banks out there who offer attractive business account deals.