Why use a bank to register your company?
Setting up your company is undoubtedly exciting – but it can also be nerve-wracking. You can of course go through Companies House and pay £50 to register your company, but you can also save time and money by using a UK bank instead. Most offer cost savings, incentives and a free business bank account at the same time.
Why do you need a business bank account?
Anyone who registers a UK limited company with Companies House is required to have a business bank account. This is because a limited company is classified as a separate legal entity from the people that own the business.
It also means that once you set up your limited company, it’s financially separate from you as a business owner. Sole traders aren’t legally required to have a business account, but some banks don’t allow business transactions, so it’s worth checking with them.
Banks pack their business accounts full of features to help you make running parts of your business easier. Must-have features to look out for include:
- 24/7 in-app and Online Banking – some banks don’t offer both.
- Being able to easily pay in cash at a local branch or Post Office.
- 24/7 fraud monitoring and FSCS protection.
- UK telephone Customer Service support.
- Integrated accounting that all allows you to stay on top of tax reporting, record keeping and audit trails.
- Money management tools like cashflow tracking and help with generating invoices.
Why use a bank to register your company?
If you need a business bank account, opening it at the same time as you register your company is a no-brainer. It's faster, usually cheaper and means you can crack on with business right away, if your application is approved.
- Some banks offering this service will have partnered with a company formation agent. Others will have become company formation agents themselves. Both are registered and securely integrated with Companies House, so are secure.
- Companies House charges you £50 to register your company. A lot of banks will offer a partial discount and, in some cases, could pay the full fee alongside other incentives.
Which banks offer a company formation service?
- Zempler rewards you with £100 when you use it to register your company.
- Set up your limited company and apply for your business bank account at the same time.
- Load £100 into your new business bank account within 30 days and Zempler will reward you with £100 back within 30 days.
Tide
- Tide charges a fee of £14.99 rather than the usual £50 Companies House fee.
- You then have to apply for a free business bank account at the same time.
Anna
- Anna offers a tiered system for company registration.
- The basic package charges £19 + VAT rather than £50 to register your company but this package doesn’t offer a business bank account at the same time.
- The Company Secretary package is £119 a year + VAT and covers your £50 Companies House fee, a Pay-As-You-Go ANNA business account and other business management tools.
- The Total Support package is £395 a year +VAT and includes the Companies House fee and support for entrepreneurs who want a fully managed business experience.
Next steps
Check out the Zempler company formation service and apply for a no monthly fee business bank account at the same time.
Please note, this information was sourced and verified on 7th February 2025.
The content in this article is not guidance from Zempler Bank. It makes no representations or warranties of any kind, explicit or implied with respect to the contents of this article. Without limitation, Zempler Bank specifically excludes and disclaims all express or implied warranties and conditions to the extent permitted by law, and any action taken using such content is strictly at the user’s risk.