LIMITED COMPANY BANK ACCOUNT

A limited company bank account is a business bank account specifically designed for limited companies. It helps separate the company's finances from the personal finances of its owners, ensuring clear financial management and legal compliance.

A separate bank account is legally required for limited companies to ensure proper financial records, manage company funds, and comply with tax regulations. It also enhances credibility with clients and suppliers.

The time to open a limited company bank account can vary. Some banks can set up an account within a few days if all documents are in order, while others may take longer due to verification processes. At Tide, most members have their account set up in minutes, though this process can take up to a few days depending on the complexity of the business.

Most banks charge fees for limited company bank accounts, which can include monthly maintenance fees, transaction fees, and fees for additional services. At Tide, we provide your account free of charge with no monthly fees. You are only charged for your use, such as 20p per transaction for our free account. You can view a list of our fees here.