Opening a business bank account - painful

Opening a business bank account - painful

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dfen5

Original Poster:

2,398 posts

212 months

Thursday 20th August 2015
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Applied on line, got a message to call. Over an hour later still on the phone.
Customers, payments, expenses, business plan, customer's business, top 5 customers, projected income from top 5 and so it went on.. Email, website blah blah, premises, industry experience, PAYE, how often, dividend use..

As the clock ticked past the hour I was ready to give but then it all just came together. After another 1/2 hour..

I realise they have to watch for money laundering but I was amazed at just how deep they want to go.

Just me or others had the same treatment? I've now got 6 multi page forms to complete. Crikey, if I'd been applying for finance I dread to think.


dfen5

Original Poster:

2,398 posts

212 months

Saturday 22nd August 2015
quotequote all
LDN said:
Barclays; I had a 15 minute chat and I was good to go. Nice and simple.
Ltd Co.? Mine was NatWest but it was the start up dep't, maybe that's why I got the Spanish. With hindsight I reckon the local branch would have been a better option.