Wise banking services for your UK-based business

After starting a business in UK, the next step could be to open its UK-based bank account. Traditional banks might be more stringent like requiring you as owner visiting the bank in person. Almost all will have minimum balance requirements. Wise though not a bank is different that can take care of your banking needs by strength of its software and partnerships with regional banks.

Wise was preferred by us over others while opening a business account (not calling it a bank account but serves similar functions) for the following reasons:

1. No need to visit in person. You can open the business account for your business while residing in your home country by online submission of documents.
2. No minimum balance requirement. Initially you need to make a small one time payment (16 GBP as we opened). You will be allotted a bank account no., Swift Code after that.
3. Passport of director not mandatory.
4. Local landline no. or mobile phone not mandatory. You can use existing mobile no. of your home country.

Our experience while opening a bank account for private limited company incorporated in United Kingdom:

In case you have incorporated a private limited company, here is a relevant link to know more: Opening a Limited Company Bank Account – Everything you need to know