Free Business Banking Service
Setting up a Business Bank Account
Your company will need a bank account of its own. You may be able to open a business account with any high street bank or your personal bank account provider. Trafalgar can make your life easier by assisting you in opening an account with Cater Allen Private Bank*.
Should you opt to use our designated business bank provider, we make setting up a business bank account easy by having our account managers:
- Prepare the paperwork for your approval
- Instantly allocate an account number
- Immediately set up an account, subject to status**
Trafalgar will prepare all the paperwork for your approval and signature to open a current account with Cater Allen Private Bank that provides you with:
- Competitive rates of interest paid on all credit balances
- No bank charges provided the account stays in credit and has fewer than 20 transactions per month
- Telephone banking
- Internet banking
- Immediate access to funds
- Free direct debit and standing order facilities
- Cheque book
- Visa card (after 3 months of business trading)
Note: Cater Allen Private Bank
* If you are concerned with the current banking issues, please note that Cater Allen is part of the Abbey/Santander Group. Cater Allen also maintains an FSA registration separate from Abbey/Santander Group.
** A full money laundering check is required for signatories of a Cater Allen Bank account.
Next step to think about is business insurances as these should be carefully considered when starting a new business.