If you’re thinking of setting up a limited company, or have just incorporated, you will need to set up a separate business account before you can start trading.
A low-cost alternative to typical business banking
As a limited company is a separate legal entity to its directors, you have to set up a separate bank account for your new business. You can’t use your personal account.
You may have found that many regular business accounts charge high monthly fees, and charge for routine transactions, or take weeks to set up. Or, even worse, you have to attend a ‘meeting’ with a business bank adviser, who has no idea what a ‘contractor’ is, and asks you for a business plan before you can open an account.
To make this step a little easier for our visitors, we’ve partnered with Advanced Payment Solutions Ltd to offer a business current account which not only is cost-effective but can be applied for online right away, with no hassle or the need to visit a ‘business banker’ at your local branch.
Perhaps one of the most attractive things about the Cashplus Business Account is that you can have an account number and sort code almost instantly – handy if your client or agency requires these details and you’ve not had the chance to set up an account with a High Street bank.
You will not need to undergo a credit check, and the sign-up process takes mere minutes.
All additional fees and charges are transparent – we’ve included these in a table at the bottom of this page.
- Here are some of the main benefits of this offering:
- There are no monthly fees – just a single annual fee of £69*
- You will not be charged for inbound transfers (e.g. from your agency or client), or outbound direct debits (to your accountant, for example).
- You will not be charged for making card purchases in the UK.
- You can pay in cash at over 13,000 locations across the UK.
- You can access your account 24/7 via the phone, online, or a mobile app.
- Full customer support is available M-F 8am-8pm, and on Saturdays from 9 am to 4 pm.
So, how do you apply?
You can apply by simply clicking on the button below. You will be tracked as an IT Contracting client, which will ensure that your application is processed as smoothly as possible.
As long as your ID and address are verified during the online application process, you will receive your Account Number and Sort Code instantly.
Alternatively, you might be asked to provide paper documents prior to your account details being provided.
*Other fees and charges may apply. Please check the terms and conditions for a full fee summary.