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How long does it actually take to open a business bank account?

Hi all, I'm setting up a start-up and I was wondering if anyone could tell me exactly how long it takes to get a business bank account opened and also how long to get a debit card? If you guys have any advice as to which type of account and bank to go for, I welcome all suggestions! Cheers

business account
start-up account
banking

1 Answer

Hi Fiona! With most high street banks, like Barclays or HSBC, you usually need to account for 2-3 weeks from the moment you start applying to when you receive the letter with your sort code and account number. If you're lucky it can take less but this is generally what you can expect. You can usually start the application online and you'll need to provide information such as your expected company income, predicted expenses and frequency of transactions as well as the details of the people who will be allowed to use the account. Then you will probably have to schedule a phone call and/or an in branch meeting with your account manager. To this meeting you will most likely have to bring a piece of ID, a proof of residence for your personal address, and the company incorporation certificate. Be sure to check ALL the documentation they would need BEFORE the meeting so that you don't waste any time. Once the account is open, the debit card, secret code and card reader usually follow within a week.

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