Are we compatible?

Your business must be registered and trading in the UK

You’ll need to be a UK resident

You’ll need a UK phone number

You’ll need an iOS or Android device to open and manage the account. For Apple devices, you’ll need to be on iOS 15 or later and for Android you’ll need to be on 7.0 or later

Maximum account balance is £100k for limited companies and £50k for sole traders

You and any other person of significant control (PSC) have to be 18 or over to open an account

You’ll need to be a UK tax resident only

You only pay tax in the UK

You are not a US Person for tax purposes

A sole trader is someone who is self-employed and the sole owner of their business. They pay tax on business profits, via a self-assessment tax return.

We support most sole traders (depending on business activities) apart from partnerships where multiple sole traders are working together.

Limited companies are registered with Companies House, and will have at least one director. Here are a few requirements for limited companies:

• Only one owner can access the account
• There needs to be at least one person of significant control (PSC) listed for your company
• The person opening the account must be a director and a PSC
• There can't be more than two PSCs, and all PSCs must be individuals 
• Your limited company must be in an ‘active’ state on Companies House

Here are some examples:

• Charities (registered or unregistered)
• Clubs or societies
• Community interest companies (CIC)
• Industrial and provident societies (IPS)
• Limited liability partnerships (LLP)
• Non-profit organisations
• Private company limited by guarantee without share capital
• Private Fund Limited Partnerships (PFLP)
• Public limited companies (PLC)
• Royal charters (RC)
• Trusts
• Unlimited companies (Unltd)