If you’re the director of a company registered with UK Companies House, you’ll be eligible for a Registered Business account. UK-based sole traders and freelancers with a valid UK residential address who are registered with HMRC are eligible for a Sole Trader account.
For both account types, you’ll need to be aged 18 or above, have a valid UK phone number, and hold a device registered to a UK App or Google Play store.
We’re on a mission to help businesses owners spend less time on money admin, and we want to enable as many small businesses as possible to do that.
But it’s a balancing act: we can’t take on too many accounts that are in high risk industries as that means we’re not able to focus our time and energy on the rest of our members.
As a result and going forwards, we will not be offering current accounts to businesses in the following industries:
- Trading of cryptocurrencies
- Trading of precious metals and stones
- Money services (such as foreign exchange, loan providers, money transfers)
- Casinos, prize draws and other betting or gambling activities
- Sale of unlicensed pharmaceuticals
- Sale or trade of cannabidiol (CBD) products
- Trading of weapons, explosives or armaments
- Unlicensed trading and processing of scrap metal
- Unlicensed waste management
- Sale, import and export of used vehicles or heavy machinery
- Escort services and other services in the adult industry
- Bidding fee auctions
- Unregistered charities and charities that aren’t incorporated
You can read more about this in our blog post: Providing financial security for our members.