To apply for a registered business account , you’ll need to be registered with UK Companies House as a director of that company or partnership.
To apply for a sole trader account , you’ll need to be a UK based sole trader or freelancer.
For both account types, you’ll need to be aged 18 or above, have a valid UK phone number and address, and hold a compatible 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. It’s a balancing act though, certain company types are more complex to onboard, so the scope of businesses we’re currently able to offer accounts to is a little more focused than your average high street bank.
We hope to broaden this scope as we grow, but currently we’re unable to onboard the following types of companies:
• 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 • CICs and CIOs
You can read more about this in our blog post: Providing financial security for our members.