Business Banking

Banks in the UK offer a complete selection of business banking services designed specifically for businesses. Unlike services meant for individual customers, business banking services in the UK focus on features that are especially beneficial for small companies. These include services such as asset purchase loans, small business loans and invoice finance.

A UK business banking account is often associated with a registered limited company. Compared to a personal bank account, which is accessed by the individual opening the account, the director of the company associated with the account decides which persons can access the business account.

Since limited companies have the same legal existence as that of an individual, a business banking account is linked to the company itself, not to the business owner specifically, nor the person who directly manages the company.

This being the case, should the company’s finance manager, for instance, have permission to conduct transactions using the account, this privilege is revoked if the person resigns from his position. But this does not in any way result in any changes to the other details of the account itself.