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Business
Bank Accounts

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:

  • 2 years free business banking*
  • Being able to manage your account online, by phone, on the RBS mobile banking app or in branch
  • 24/7 support and guidance from the Business Banking telephone team
  • Instant alerts on your account activity
  • £50 reward** – yes, you're essentially being paid to open a bank account
  • No meeting required

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.

How it works

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:

  • Your company and contact details will be sent via a secure link to RBS as soon as your company has been registered
  • You'll receive a call from RBS within 48 hours to open your account. The majority of the time you will not have to visit a branch
  • If you do have to visit a branch, you may be asked to bring certain documents (e.g. a Share Certificate – this is emailed to you after your registration is complete).
  • Claim your £50 reward once your account is opened

How to claim your reward

Once your RBS Business Bank Account has been set up, you can claim your £50 reward by following these steps:

  • Log into your Company Manager account by hitting the Sign In button
  • Select My Account in the menu and hit Claim Cashback
  • Click the Request button

Terms & Conditions

*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.