Open Business account online in the UK

UK

Fintech: Low or no opening fee (e.g. Wise Business one-time ~£45); no monthly fees on basic plans (Starling free).

Banks: Monthly fees ~£6–£8 after any free intro period; typically no minimum deposit needed.

Fintech: Fast online signup, often same-day to a few days.

Banks: ~1–2 weeks (appointment and KYC checks); longer if directors are overseas.

Residents: Proof of ID, UK address proof, company docs.

Non-residents: Same docs; many banks require at least one UK-resident director. Digital banks accept UK-registered companies even if owners live abroad (need UK business address).

Foreign companies (non-UK entity): Challenging. Traditional banks rarely open accounts without a UK presence; global banks may consider if you have existing relationship.

Non-resident individuals: Can open for a UK-registered business via fintech; otherwise, use international multi-currency accounts.

GBP local UK account. Many providers offer multi-currency accounts: e.g. Wise/Revolut support GBP, EUR, USD, and more with real exchange rates. SENDS provides GBP, USD and EUR accounts with personal GB IBANs.

International transfers: Fintechs have low FX fees; traditional banks use SWIFT (£15–£25 fee) but many offer SEPA and Faster Payments. SENDS supports SEPA, UK Faster Payments/CHAPS, and SWIFT.

Fintech: Wise Business, Revolut Business, Tide, Monzo Business, Starling Bank, Monese Business, SENDS.

Banks: HSBC, Barclays, NatWest, Lloyds (often require UK residency for signatories).

Germany

Fintech/Challengers: N26 Business free; Holvi basic free; Penta/Qonto €9–€19/month.

Banks: ~€6–€12/month; some offer free promos; no required minimum deposit aside from share capital.

Digital banks: Very fast – N26 in minutes; Penta in ~48 hours.

Traditional banks: ~2–7 days if docs are in order; average ~1 week for a GmbH account.

Residents: ID card/passport, Meldebescheinigung, tax ID, business registration, GmbH docs.

Non-residents: Must have an official German address and local tax ID; banks require German residence or local office; docs in German may need translation.

Foreign companies: Difficult without German presence; banks expect a branch or subsidiary.

Non-resident individuals: EU residents with EU address may open digital accounts; full business accounts require local director or office.

EUR default; local DE IBAN; SEPA. SWIFT fees ~€15–€25; fintech offers cheap international payments; multi-currency via Wise/Revolut.

Banks: Deutsche Bank, Commerzbank, Sparkasse, Volksbank, Postbank.

Fintech/EMI: N26, Qonto, Holvi, Fyrst, Kontist, Wise Business, Revolut Business, Payoneer, Genome, Paysera.

Estonia

Fintech (EEA EMI): Wise Business €50 one-time; Paysera low or pay-per-use; Revolut Business free starter.

Banks: Monthly €10–€20; share capital €2,500 for new entities.

Fintech/Online: 1–3 days entirely online; some in under an hour.

Local banks: Pre-approval 1–2 weeks + in-person visit; total several weeks.

Residents: ID, registry card, articles, in-person ID.

e-Residents: Digital ID, passport, registry extract, business description, proof of ties; board member must visit for KYC.

Foreign companies: Not served; focus on Estonian entities.

Non-resident owners: Manage via EMI (Wise, Payoneer); banks require ≥50% Estonian ties for approval.

EUR SEPA IBAN; optional multi-currency via LHV/Swedbank; EMI for 40+ currencies and low-cost transfers.

Banks: LHV, Swedbank, SEB, Luminor.

Fintech/EMI: Wise Business, Paysera, Revolut Business, Intergiro, Genome, ConnectPay, Mercury, Payoneer.