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By carmen-ingles
- In Uncategorized
Starting a business in the United Kingdom has become increasingly popular among entrepreneurs worldwide. One essential step in this process is opening a business bank account. Fortunately, Revolut Business offers a fast, flexible, and cost-effective solution tailored for companies in the UK and abroad. This article explains how to open a Revolut business account in the UK, what you need, and why it might be the right choice for your company.
Why Choose Revolut for Your UK Business Account?
Setting up a traditional business bank account in the UK can take days—or even weeks. On the other hand, Revolut simplifies the entire process, offering online applications, low fees, and multi-currency accounts.
Moreover, you can manage your account through a mobile app, monitor expenses in real-time, and integrate it with your accounting software. These features save time and money, allowing you to focus on growing your business.
Who Can Open a Revolut Business Account in the UK?
Whether you are a UK-based company or a foreign entrepreneur with a registered LTD in the UK, a business bank account is available.
However, there are a few conditions:
- Your company must be registered and active in the UK or in a supported country.
- You must have a UK address or a registered office address.
- The business must comply with Revolut’s terms of use and not fall into restricted categories such as adult content, gambling, or cryptocurrency exchange platforms.
What Documents Do You Need?
To get started, you will need to provide:
- Company registration details (e.g., Companies House number)
- Proof of business address
- Identification of the directors and shareholders (e.g., passport or national ID)
- Description of business activities
Since Revolut conducts identity and business checks online, the process is quick and efficient.
Step-by-Step: How to Open a Revolut Business Account
Opening your account is easy if you follow these steps:
- Go to the Revolut Business website.
- Choose a plan. Revolut offers several pricing plans, including a free option and paid tiers with additional features.
- Fill out the application form. Provide details about your business and upload the required documents.
- Wait for verification. In most cases, your account will be verified within 24–48 hours.
- Start using your account. Once verified, you can receive payments, issue virtual cards, and manage your finances from your phone or desktop.
Benefits of Using Revolut for Your UK Company
- Quick setup – No need to visit a bank branch.
- Multi-currency support – Ideal for companies with international clients.
- Real-time notifications – Stay on top of every transaction.
- Low fees – Especially attractive for startups and SMEs.
- Open API – Connect your account with other tools and automate tasks.
Even though Revolut provides a convenient service, it is not a traditional bank. This means:
- Funds are safeguarded, but they are not protected under the FSCS (Financial Services Compensation Scheme).
- Some businesses in high-risk categories might get rejected.
- Customer support is mostly online, so instant assistance may not always be available.
Long story short, opening a business bank account in the UK no longer has to be complicated or time-consuming. Revolut Business offers a flexible and modern alternative to traditional banking, helping entrepreneurs manage their finances efficiently. Whether you run a startup or a small business, Revolut can provide the tools and features you need to operate smoothly and expand internationally.