5 Best UK Business Bank Accounts for Expats: No Stress, Just Success

Let’s Get Your UK Business Banking Sorted

Hey there! If you’ve recently moved to the UK or you’re planning your big move to start a business, first off: congrats! The UK is a fantastic place to grow a brand. But, let’s be real—trying to open a traditional business bank account as an expat can feel like a total nightmare.

Traditional banks usually want a three-year UK address history, which is… well, impossible if you just got here. Luckily, we live in the age of FinTech! Here are the best UK business bank accounts for expats that won’t make you pull your hair out.

1. Wise Business: The King of International Transfers

If your business involves getting paid in different currencies or paying suppliers abroad, Wise Business is a no-brainer.

• The Vibe: Transparent and super cheap.
• Why it’s great for expats: You get local bank details (sort code, account number, IBAN) for the UK, Eurozone, USA, and more. It makes you look like a local business even if you’re just starting out.

2. Revolut Business: The All-In-One Powerhouse

Revolut is sleek, fast, and very expat-friendly. They understand the global lifestyle better than most.

• The Vibe: High-tech and feature-rich.
• Why it’s great for expats: You can hold and exchange over 25 currencies at great rates. Plus, their app lets you track expenses and manage company cards with a few taps.

3. Tide: The Speed Demon

If you’re in a rush to get your business registered and banking, Tide is your go-to.

• The Vibe: Modern and efficient.
• Why it’s great for expats: You can often open an account in minutes. They are generally more relaxed about the “perfect” UK credit history for their basic accounts, making it a solid entry point for newcomers.

4. Starling Bank: The Award-Winner

Starling is a “proper” bank but without the stuffy branches. They’ve won plenty of awards for a reason.

• The Vibe: Reliable and user-friendly.
• Why it’s great for expats: It’s a full UK bank account with FSCS protection. The app is incredibly clean, and there are no monthly fees for the basic business account. However, they can be a bit pickier with their application process compared to the others.

5. Monzo Business: Simple and Social

Most people in the UK have a personal Monzo, so having a Monzo Business account just makes sense for consistency.

• The Vibe: Friendly and visual.
• Why it’s great for expats: Their “Tax Pots” feature automatically sets aside a percentage of your income for the taxman, so you don’t get a nasty surprise later. It’s perfect for freelancers and small startups who want to keep things chill.

Tips for a Smooth Application

Even with these digital-first banks, you’ll need a few things ready to go:

• Proof of ID: Your passport or BRP (Biometric Residence Permit).
• Business Details: Your Company House registration number if you’re a limited company.
• Address Proof: Even if you’re new, having a utility bill or a rental agreement helps speed things up.

Final Thoughts

Don’t let the paperwork kill your vibe. Start with a digital-first option like Wise or Revolut to get your business moving, and you can always look into traditional banks once you’ve settled in for a couple of years. Good luck with the new venture—you’re going to crush it!