Opening a Business Bank Account in the current climate - Starling?

[tn1234 0]

Good morning,

Long time listener, first time poster. We are looking to purchase a property through a new Ltd company, and our regular business bank won't be able to meet our deadline to open the account due to COVID-19 outbreak - it definitely puts everything in perspective. 

We are looking for alternatives to open the Ltd company account without any large lead time as we will miss out on the deal.

We have looked at the online new comers and the one that stands out is Starling due to its FSCS protection.

Can anyone recommend Starling or any other banking companies that are able to open at short notice (preferably same day as we need to place the deposit by early next week)

Regards,

TN

[gary-n 1]

Hi TN

We have also just set up a new ltd company to purchase BTL’s, with our first company purchase part way through but now on hold due to the situation.

We have set up our company bank account through Starling and found the set up process extremely simple with all documentation provided electronically and was all done in a day.

This was done before the crisis really kicked in so I can’t comment if service levels have been impacted since but my guess is the majority is automated so hopefully you won’t see a huge difference in set up time.

Also because the purchase hasn’t completed yet so we have only made a few transactions but the app is easy to use from our limited usage to date.

Good luck with the purchase and let us know how you get on

thanks

Gary

[tn1234 0]

Thanks Gary - appreciate the response.

Starling were quick to set up the account - a few hiccups in opening, but resolved within 24 hours. All in all I think it took under 48 hours from application to opening the account.

Regards