Company Bankers
The company will need a Bank Account in the UK. This will be with
one of the UK Clearing Banks e.g. Barclays, HSBC, NatWest., Lloyds
TSB, etc. Prior to opening the account, the bank will need a
copy of the Memorandum & Articles of Association and will need
sight of the Certification of Incorporation. The bank will then
carry out a credit check on both the company and its directors.
The choice of bank is really one of convenience, cost and relationships.
If necessary, we can introduce you to a bank and one of its Corporate
Managers.
Increasingly, the banks are encouraging customers to use
telephone banking, electronic and internet banking to deal with the
majority of transactions on an automated basis. This helps to keep
down costs both for the bank and the customer.
For small companies, the main Clearing Banks often offer their
services free for the first 12 to 24 months.
CONCLUSION
Please remember that the website has been written in very general terms.
You should always obtain individual advice based on your own particular
circumstances. Why not take advantage of a free initial discussion?
© Majors, Chartered Accountants, 2001; Updated 24 November 2001; Reviewed 25 April 2002