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UK Business Bank Account (Cheapest Solution Needed)

#81
It is hard to find anyone who is providing this service. Even harder to find anyone to who i would pay to open account for me. This is the reason. Simple and cheap service doesn't mean that many people could be offering something like this.
 
#84
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#85
Somehow I found solution for around 65 GBP. If all goes ok with merchant account (God knows if i will be approved since the company would be completely new with no history) and its payment processing then profit is for around 150000 GBP. So profit minus expense = 149935 GBP. This approximate values are for one company. If two then profit is multiplied with two but unfortunately starting expense too.

Now the top primary worry is different: its not about being approved for bank account but its about getting physical items from the bank (like banking card) forwarded outside of uk.
 
#87
Benjamin0 said:
Somehow I found solution for around 65 GBP. If all goes ok with merchant account (God knows if i will be approved since the company would be completely new with no history) and its payment processing then profit is for around 150000 GBP. So profit minus expense = 149935 GBP. This approximate values are for one company. If two then profit is multiplied with two but unfortunately starting expense too.
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High street UK bank account for 65 pounds from a company that has NO history. Sounds legit.
Looks like you're even going to lose the little that you have, what a shame...
 
#89
Brutus said:
High street UK bank account for 65 pounds from a company that has NO history. Sounds legit.
Looks like you're even going to lose the little that you have, what a shame...
Click to expand...

What else I can do? As you can see I opened this forum topic on 20 June 2017. Today is 10 Oct 2017 and no replies with relevant requested information from anyone at all. Before I opened the forum topic, I had been searching for solution for a few months already. After I opened it, i also did it so i wouldn't need to depend on replies here. Somehow I found affordable solution for UK company forming/registering which would, I believe and hope so to simplify the procedure of getting UK bank account opened. The bad things are:

- i would have to go through entire procedure of getting account opened but having a registered company on records will surely help.
- not sure if i will get sufficient quantity (and even quality) of business documentation in order to get account opened. Barclays account opening representative told me there is no documentation required at all. However I am interested for other institutions too and not just Barclays. But the story gets more complicated if bank's (e.g. Barclays') own merchant department, offering virtual terminal for cards charging, will request from me business documentation. Only God knows if the documents, I will get with affordable (not cheap but affordable) company forming will include enough documents.

Today, I invested few more hours into this and came even more far with my research and effort: I even have a chance that provided (by vendor offering that) address can be used for two different purposes:

1. company registered address: why this is good? because every ''welcome kit'' such as device for generating one time passcode with battery will be due to security reasons send directly to registered address
2. international forwarding address: this registered address can already be used to get physical items sent outside of UK under postage tracking id. This means I don't need to search for individual person willing to get items (shipped by the bank) delivered and reforward them internationally.

The bad thing is that this forwarding possibility is charged additionally so it is offered for extra price.

Another bad thing is that I may still a little bid prefer personal bank account rather than business bank account, although business bank account would bring me much more profit. However, I would be able to use fully functional PERSONAL bank account, without ever visiting UK, for longterm (e.g. talking about years, e.g. 3+ years), while business bank account would not last for more than 1 month. Additional idea is forming multiple companies. For both/all i would manually ( ! ) try to open business bank account and extra price would be covered for physical items reforwarded outside of UK belonging to both/all business accounts. This means I wouldn't need to pay one reforwarding service for one account. But one service for all accounts (one welcome kit per one account).

However, I am working too hard on this to get business account(s) closed that soon, even if they would bring me like 50x of profit comparing to what personal bank account would make me profit. But at the time of typing this message I rather see long term solution (talking about availability of my own UK bank account once it gets opened) with much much much less profit, than short term solution with much larger profit but after a month, perhaps even 3 weeks, returning to where I am currently (not having account).
 
#90
I guess I give up and accept the fact that I will be without an income of any kind for the rest of my life. Actually my UK company was successfully formed and I thought with new company documentation and successfully obtained UK forwarding address, it will be easier to open UK bank account for UK company.

The sad truth: Its even harder! :(
 
#91
Benjamin0 said:
I guess I give up and accept the fact that I will be without an income of any kind for the rest of my life. Actually my UK company was successfully formed and I thought with new company documentation and successfully obtained UK forwarding address, it will be easier to open UK bank account for UK company.

The sad truth: Its even harder! :(
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I did tell you that even opening a UK business account for a UK company and being a UK citizen isn't easy!

There may be solutions to help you but i would need to speak to you about your exact requirements
 
#92
scdgroup said:
I did tell you that even opening a UK business account for a UK company and being a UK citizen isn't easy!

There may be solutions to help you but i would need to speak to you about your exact requirements
Click to expand...

I am unable to send private message so please contact me to <<snipped >>

Kindly tell me via email message please: price of your service, country/ies (UK only or anything else) or whether it is personal or business account.

Being aware the contact email address is actually not allowed to be posted here but I have no other choice and I apologize for the moderators of this forum for doing that but I spent too much effort and time on this. The size of this forum post proves so. I usually respect the rules, if someone came to my apartment, I would expect same from him/her. It may help if you @scdgroup confirm you wrote down my email address so moderator/admin can delete it. I wish I could do it but in around few minutes, the feature of editing post gets disabled. Although its not only my fault if forum doesn't support Private Message system to regular users who don't have any ''high'' subscription..
 
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#96
Hi Ben, I have an idea for you. Like I explained before I live in Asia. I did open a USA bank account virtually regardless of what people might believe. The problem I faced was being declined to open a merchant account without an SSN. So after almost 10minths trying to get that sorted I decided to throw in the towel.

I open a UK business and bank account virtually. So now I shouldn't have any issues with finding a local merchant account (hopefully)

I didn't open it with a NatWest, Barclays, Lloyds or any of the main high street banks.

the bank is based in U.K. And is an online bank.

However, they do accept foreign nationals. But you need a UK personal address with your name on as proof. Something with your name on it, tax, utility bill, gass and electric.

I'm not going to reveal the bank just yet as I don't know who's watching this thread.

Maybe you can ask someone here. Another option the company you have your registered address ask them if you can pay a small fee to include your name on the bill for 2 months. I have seen some companies do that if they own the whole premises. Once you have that you can try for example smile bank. Download the app and do the online application.
 
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#98
I
hiju said:
this sounds good... so you are still in verification pending?
Click to expand...
can officially say I have a personal and business bank account that I opened without visiting England.

I just had some money transferred in my business account over the last few days.

I'm just waiting for my business card now which was set a few days ago.

So, my business is in full operation.
 
#99
Just follow the example I outlined. 100% a bank account CAN be opened without visiting the UK. You just need a smart phone, passport, and may or may not ask for proof of address. If your a British citizen living outside of the UK.

If your not a brit and you live in UK or you live outside of UK, you will be asked for proof of address.
They might accept HMRC letter ;-)
And job centre letter ;-)

Use your brain...
 
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