O nce you've registered your company, you'll want to start trading, but you can't do this without having a business bank account. It is a legal requirement.
Businesses pay for their business bank accounts. Unlike your standard current account, it requires a cost. That's why we offer a bank that gives you free banking in your early days.
To get your company up and running as quickly as possible, we offer a free RBS Business Bank Account with a £50 reward with every company registered with us. Here are the perks:
You must be a UK resident and forming a company limited by shares (LTD) or a limited liability partnership (LLP) to take this bank account.
RBS Business Bank accounts are subject to normal bank credit and money laundering checks.
You can select an RBS Business Bank Account in the order process at the 'banking' stage. What happens after that is simple. These are the steps required once you've chosen your new RBS Business Bank Account:
Once your RBS Business Bank Account has been set up, you can claim your £50 reward by following these steps:
*Available to start-ups with an annual turnover less than £1 million, where the business has been trading for less than one year. RBS reserves the right to alter, amend or foreclose this offer without prior notice. All credit applications are subject to approval. Over 18's only.
Free banking will commence from the date your account is opened and means that the charges for the day-to-day running of your account (known as your 'service charge') will not apply during the free banking period. Charges for 'Unarranged Borrowing', 'Additional Services' and 'Bankline Charges' are not part of the free banking offer. At the end of this period, you will automatically revert to the Standard Published Tariff. However, you will also have the opportunity to select a different tariff if your business banking needs have changed.
Formations Direct Limited trading as Quick Formations and RBS have entered into a referral arrangement whereby a fee will be paid by RBS to Formations Direct Limited on the successful opening of an RBS Business Bank Account.
**The £50 reward only applies to UK customers who apply for their bank account through Quick Formations and who open a RBS Business Bank Account within 3 months of application. Claim by logging into Company Manager and requesting cashback by following the steps outlined above. Please note that we are sometimes advised of account openings up to 4-6 weeks later by RBS, so please be patient, your £50 reward will be processed.
You must be a UK resident to take this bank account under this scheme.