What documents do you need to open a business bank account?

The checklist

Every bank asks for slightly different things, but the core list is consistent. The Current Account Switch Service says that 18 UK business account providers have agreed a basic set of information with UK Finance. For a business it includes the business name, trading address, funding requirements, a Companies House registration number, an HMRC certificate and a recent utility bill or statement for the business. For the people behind it, banks may ask for personal details of directors and partners, plus a passport, driving licence or bank statement.

If you are a sole trader still deciding whether you need an account at all, start with whether a sole trader needs a business bank account.

Proof of identity

Every bank needs to know who you are. The standard documents are a current passport or a UK photocard driving licence. If you only have another form of ID, check with the bank before you apply. The document must be in date: Monzo’s help page says your photo ID “can’t have expired”.

Make sure the name on your ID matches the name you apply with and, for a company, the name on the Companies House register. A middle name missing from one of them, or a married name on one and a maiden name on another, is a common reason for an application to be paused while someone checks.

Proof of address

Banks want to confirm where you live and where the business operates. For a personal address, many banks run an electronic check against public records first and only ask for documents if that fails. For a business address, expect to be asked for something like:

• a recent utility bill in the business name or at the business address
• a signed lease or rental agreement for business premises
• an official letter from HMRC
• a recent bank statement or council tax bill, for a home-based business

If you run the business from home, your home address and business address are the same, which makes this easier. If you use a virtual office or registered office service, the bank may still want proof of where you actually trade.

Business details

Beyond paperwork, the application asks questions about the business. These are part of the bank’s legal duty to understand its customers, and honest, specific answers make approval quicker.

• What the business does: a plain description, for example “web design for small businesses”.
• Expected turnover: an estimate for the next year is fine for a new business.
• Where money comes from: customers, platforms such as Etsy or Stripe, investment from you.
• Countries you trade with: if you pay or receive money from abroad.
• Cash handling: whether you expect to deposit cash, and roughly how much.
• Companies House number: for a limited company, the bank pulls the registered office, directors and PSCs from the public register.

For a limited company, check the register before you apply. You can look up your own company on the Companies House service. If your registered office, directors or PSCs are out of date there, file the change first. Banks match what you tell them against what the register says.

People with significant control

A person with significant control (PSC) is someone who owns or controls the company. GOV.UK’s guidance on PSCs says that includes anyone who holds more than 25% of the shares or voting rights, can appoint or remove a majority of the directors, or can otherwise influence or control the company.

Banks verify PSCs because they must know who ultimately owns the businesses they bank. In practice this means each PSC may need to provide ID, even if they are not the person applying. For a one-person company, you are the director and the PSC, so it is one set of checks. For a company with several shareholders, each one above the threshold should have their ID ready.

Companies House identity verification

Separately, Companies House now requires identity verification. Its guidance says identity verification became a legal requirement on 18 November 2025 and that directors and people with significant control need to verify. This is not the bank’s check: banks run their own. But a company whose directors and PSCs are up to date and verified at Companies House is likely to have fewer mismatches when a bank looks it up.

App-based vs high-street banks

The documents are broadly the same everywhere. What differs is how you provide them.

App-based banks such as Monzo, Starling and Tide verify you on your phone. You typically photograph your ID, take a selfie or short video so the bank can match your face to the document, and answer the business questions in the app. Company details come straight from Companies House. If everything matches, the account can open the same day.

High-street banks often offer online applications too, but some still ask you to visit a branch, post certified copies or speak to a business team, particularly for companies with several owners or more complex structures. Checks can take longer. The trade-off is that they offer things app-based banks may not, such as branch counters for cash and relationship managers. Our comparison with the high-street banks covers those differences.

Most banks also check your credit file or the company’s when you apply, though the type of search varies. The credit check guide explains what to expect.

What Monzo Business asks for

Monzo’s help page on applying lists four things to have ready: photo ID such as a passport or driving licence that has not expired; proof of your business address, such as a utility bill, a signed lease agreement or an official letter from HMRC; your registered company number or name, if you are a limited company; and your Unique Taxpayer Reference.

You apply in the Monzo app rather than on a website. According to the same help page, Monzo starts with questions about the business and how you plan to use the account: the industry you work in, what the business does, the countries you do business with and your turnover.

For a limited company, Monzo also asks you to make sure your Companies House information is up to date and verifies any people with significant control. Each PSC either shows their ID or, if they already have a Monzo personal account, Monzo can use that to confirm who they are.

Monzo cannot open accounts for partnerships, LLPs, PLCs, charities, CICs, companies limited by guarantee, trusts and funds. If your business is one of those, the Monzo Business alternatives page covers accounts that do accept them. Monzo says most of its business accounts open the same day. The full walkthrough is in how to open a Monzo Business account, and the eligibility rules are explained in more detail on the Monzo Business eligibility page.

If you are opening through our link, the £50 reward is only for people who have never opened a Monzo account before, of any kind, and who download the app, apply, add money and make a first card payment within 30 days. The bonus checker confirms whether you qualify before you start.

Why applications stall

Most delays come from a handful of avoidable mismatches:

• Out-of-date Companies House details: an old registered office, a resigned director still listed, or a missing PSC.
• Name mismatches: a different spelling or missing middle name between your ID, your application and the register.
• Expired ID: check the expiry date on your passport or licence before you start.
• A dormant or struck-off company: Monzo, for example, cannot support dormant companies.
• An unsupported business type: partnerships, LLPs and charities need a bank that accepts them.
• A PSC who is not available: if a co-owner needs to verify their ID, warn them before you apply.
• Vague business descriptions: “consultancy” with no detail can prompt follow-up questions.

Directors and owners who live abroad

Residency is a common sticking point. Many app-based business accounts, Monzo included, require the applicant to be UK resident and the business to be UK tax resident. A company with a director or major shareholder overseas may still be able to open an account, but usually with a bank that handles international ownership, and the checks on overseas PSCs tend to take longer. If that applies to you, ask the bank before applying rather than discovering it halfway through.

Brand-new businesses

A business with no trading history can still open an account. Banks simply ask for estimates instead of figures. Be realistic about expected turnover: a forecast wildly out of line with what then goes through the account can prompt questions later. For a brand-new company, the guide to accounts for startups covers which banks accept you on the day you incorporate.