How to open a business bank account: documents and timings

To open a business bank account you need proof the business exists, proof of who you are and, for a company, details of who owns and controls it. Most banks take applications online or in an app. Several banks report opening most accounts the same day once they have every document, while others take days or weeks, so having your paperwork ready is the biggest thing you control.

What documents do you need?

The documents depend on how your business is set up. This checklist covers what UK banks commonly ask for; each bank sets its own list, so check before you apply.

For a limited company or LLP

• Company name and Companies House registration number
• Registered office address, and trading address if different
• Full names of all directors, with photo ID (passport or driving licence) and proof of home address
• Details of shareholders or people with significant control (PSCs)
• Articles of association, if the bank asks for them
• Expected turnover, and where money will come from and go to

For a sole trader

• Photo ID and proof of home address
• Evidence you are self-employed, such as your HMRC Self Assessment registration or a recent tax return
• Your trading name, if you use one

For a partnership

• ID and proof of address for each partner
• The partnership agreement, if you have one

Proof of address is usually a utility bill, council tax bill or mortgage statement dated within the last three months. Online applicants may be asked for a selfie or face scan to match their ID.

Why do banks ask for all this?

Banks must check who they are dealing with under the Money Laundering Regulations 2017. Regulation 28 requires them to verify a company’s name, company number and registered office. They must also take reasonable steps to check its directors, its constitution, and its beneficial owners.

The regulation also says information filed at Companies House cannot be the only evidence of beneficial ownership. That is why a bank may ask you to confirm who owns the company, even though it is on the public register.

How do you open a business bank account?

Most applications follow the same steps, whether you apply in an app, online or in a branch.

1. Set up the business first. A company needs its Companies House number. See our guide on how to set up a limited company.
2. Compare accounts. Look at monthly fees, transaction charges and features. Our business bank account fees guide explains the charges.
3. Check eligibility. Some providers require all directors to live in the UK, or exclude certain industries.
4. Gather your documents. Use the checklist above. Make sure names and addresses match your ID and the Companies House record.
5. Apply. Complete the form, upload ID and complete any face scan.
6. Answer follow-up questions quickly. The clock on most published opening times stops while the bank waits for you.
7. Set up the account. Add other users, connect your accounting software and update your invoices with the new details.

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

It ranges from minutes to several weeks. Banks publish opening times measured from when they have all the information and documents they ask for. These are the figures shown on each bank’s own page when we checked on 6 November 2026, listed alphabetically.

Virgin Money’s figures cover 1 April to 30 June 2026 and show an average of 2 days. TSB reports an average of 5 days. Metro Bank and Monzo report an average of 0 days. Metro Bank, Monzo and TSB do not say which period their figures cover.

These figures exclude time spent waiting for you. If the bank needs more evidence, or your application is flagged for extra checks, it will take longer.

What slows an application down?

Most delays come from mismatched or missing information. Common causes are:

• a name or address on your ID that differs from the Companies House record
• a director or major shareholder who has not completed their checks
• a complex ownership structure, such as a holding company or overseas owner
• a business in a sector the bank treats as higher risk
• vague answers about turnover or where payments come from

Which route applies to you?

• If you are a sole trader, you may not need a separate account at all; read do sole traders need a business bank account.
• If you run a limited company, open an account in the company’s name. Company money belongs to the company, not to you.
• If you need the account this week, choose a provider that publishes high same-day opening figures and have every document ready.
• If you want branch or relationship support, expect checks to take longer and book an appointment early.
• If you are moving from another bank, see our guide to switching business bank account.

Is your money protected?

Eligible deposits with a UK-authorised bank are protected by the Financial Services Compensation Scheme. The FSCS limit rose to £120,000 on 1 December 2025. Banks in the same group that share a licence count as one bank for this limit.

Frequently asked questions

What documents do I need to open a business bank account?

For a limited company you usually need the company number, photo ID and proof of address for each director, and details of shareholders or PSCs. Sole traders need ID, proof of address and evidence of self-employment.

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

Metro Bank and Monzo report opening most accounts the same day once they have everything they need. Virgin Money reported an average of 2 days, with 99% within 27 days, for April to June 2026.

Can I open a business bank account before my company is registered?

A limited company account is opened in the company’s name, so you normally need the Companies House registration number first.

Do I need proof of address to open a business account?

Usually yes. Banks commonly accept a utility bill, council tax bill or mortgage statement dated within the last three months.

Why has my bank asked who owns my company?

The Money Laundering Regulations 2017 require banks to identify a company’s beneficial owners. Information at Companies House cannot be the only evidence they rely on.