UK business bank account

Sgran · 12-02-2008, 09:05 AM

Our small company needs to open a bank account in the UK in order to make a contract with a ferry company. My colleague has researched 7 or 8 banks, and they all want a huge opening deposit. Does anyone know any sterling based UK bank accounts without onorous deposit requirements? Any leads or contacts welcome.

Marc Vaughan · 12-02-2008, 11:06 AM

The deposit is probably because you're a foreign company and they simply want a safety net in case you disappear having written a bunch of cheques or whatever.

What are you planning on using it for? - as I'd have thought that most things you could do without one; I've dealt with foreign companies professionally frequently without needing a foreign bank account (indeed having one in some cases might complicate things from a tax perspective).

PS - Feel free to PM me if you prefer ..

Sgran · 12-02-2008, 11:54 AM

thanks, Marc. It's as simple as I stated in my post: we need to make a contract with a ferry company that crosses the channel and they want a UK bank account.

Marc Vaughan · 12-02-2008, 12:30 PM

Might be worth checking if your present bank has a UK arm / subsiduary (or indeed is vice versa owned by a foreign bank) as that might help with regards to whether they'd want a deposit.

(which bank do you use presently?)

12-02-2008, 11:54 AM	#3
Sgran High School Varsity Join Date: Feb 2007 Location: Budapest	thanks, Marc. It's as simple as I stated in my post: we need to make a contract with a ferry company that crosses the channel and they want a UK bank account. __________________ What the hell is Mike Brown diagramming for them during timeouts? Is he like the guy from "Memento" or something? Guys, I just thought of something … what if we ran a high screen for LeBron?

12-02-2008, 11:06 AM	#2
Marc Vaughan SI Games Join Date: Oct 2000 Location: Melbourne, FL	The deposit is probably because you're a foreign company and they simply want a safety net in case you disappear having written a bunch of cheques or whatever. What are you planning on using it for? - as I'd have thought that most things you could do without one; I've dealt with foreign companies professionally frequently without needing a foreign bank account (indeed having one in some cases might complicate things from a tax perspective). PS - Feel free to PM me if you prefer ..

12-02-2008, 12:30 PM	#4
Marc Vaughan SI Games Join Date: Oct 2000 Location: Melbourne, FL	Might be worth checking if your present bank has a UK arm / subsiduary (or indeed is vice versa owned by a foreign bank) as that might help with regards to whether they'd want a deposit. (which bank do you use presently?)

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