Is there a bank supported by quickfile to open a free bank account for a new Ltd. company?

I’m opening a new UK Ltd. company and need to have a bank account.
There are german banks (dkb.de, fidor.de, number26.de, comdirect.com) which offer forever free bank accounts that can be opened completely online (without visiting a branch).

I’m opening the company now and will only be in UK in the second half of the year, so visiting a local branch would create a lot of inconvenience. I don’t even know if I really need a bank account these days with all those new financial services popping up online. Sending my passport would also be fine if absolutely necessary, but i would prefer an online solution.

Legally I do not need a bank account, but I have to invoice customers and need to provide a IBAN and BIC to suppliers.

  1. Does anyone here in the community know about a way to solve that problem for free or at least as cheap as possible and if somehow possible, online?

  2. Does any of the supported banks (here in quickfile) offer that?

Thanks a lot folks :slight_smile:

I am pretty sure I opened a business account not too long ago without visiting a branch. Apply online or over the phone, then send some documents off and the account is opened.

I have definitely opened several personal accounts this way, no sending of paperwork was required there. I think the papers were simply to prove that I was a business.

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I did not try to open a personal bank account yet.
Most banks offer private and business accounts and therefore prohibit the usage of a private account for a ltd. company.

I tried quite a few banks, either emailed them or called them, but they all said without visiting a branch its not possible.

  1. With which bank did you succeed?
  2. And do you have a Ltd. company and also created a business account?
  3. Or do you otherwise know a bank that is fine with using a private account for business? (because legally thats fine with a Ltd. company as far as i know)

I believe it was Yorkshire Bank (which is now part of RBS).

I applied as a sole trader. I would imagine applying as a limited company should be easier, certainly when I have opened accounts at suppliers providing references as a registered company has been easier IME.

I wasn’t recommending using a personal account for business use. As you quite rightly say, a lot of banks frown upon this practice.

In my experience most UK banks will usually request to meet you in person if you are not a UK citizen. Our sister company is a formation agency and we’ve dealt with a few UK banks over the years. If there is a bank in the UK with branches in Germany then it’s possible they may arrange an appointment at one of your local branches to complete the ID verification.

Not sure about “forever free” accounts? I think most charge a nominal monthly fee, something like £5.

Best of luck!

Thank you Glenn,

I hope there is a solution. Currently it seems way more complicated than i thought or hoped in the beginning.
The funny thing is, it seems I’m note required to have a UK bank account, and even though there are lot of others banks in europe that offer “forever free” business bank accounts, they do not offer it for a UK Ltd.

It’s really crazy.