Why Open a UK Bank Account
with ICON Partners
Entering new markets often requires access to local UK financial infrastructure and opening a bank account online. Without experience, it’s difficult: different requirements, non-obvious steps, and checks. Going through everything on your own is long and risky.
We simplify the path. Icon.Partners help you go through the process quickly and correctly. Without unnecessary formalities. Without wasting time.
Trusted by Non-Residents and International Businesses
We have proven relationships with institutions that work with international applicants. This is especially important when standard options are not available. With us, everything is done without requirements for local status or previous history.
Looking for answers to the question of how to open a bank account in the UK? We have the experience to help you and prevent unnecessary rejections. We select the right solutions - efficiently and without unnecessary attempts.
Full Compliance and Personal Support
We don't just provide a service, we support your business at every step of the online bank account UK opening process. Our team carefully examines the specifics of your business, selects the best bank or financial institution, prepares the necessary documents, and ensures that everything meets the requirements of international KYC/AML compliance. You will not receive a template service, but a personalised solution that includes support from experts who care about the result.
Who Can Open a Bank Account in the UK
Not only citizens of the country, but also foreigners, non-residents, entrepreneurs, and companies from abroad can open UK bank account. The main thing is to meet the established requirements. Different banks offer both standard accounts for individuals and business accounts for entrepreneurs. Many people ask: “Can a non-UK resident open a bank account?”. The answer is yes, but the process and required documents may vary depending on the bank. This segment in the UK is also currently actively developing, with virtual banks offering fast remote connections. If you are looking for how to open a bank account in the UK, you should first determine whether you are opening an account as an individual or as a business.
Non-UK Residents and Foreign Citizens
Many banks in the UK today allow a bank account for non-residents. Thanks to online platforms and digital solutions (e.g., Revolut, Wise), it is possible to apply from abroad. It is enough to provide an ID card and a document confirming the place of residence, even if it is not UK, so if you are asking yourself the question “Can a foreigner open a bank account in the UK?”, we will also answer you “Yes”. Depending on the institution, the functionality may differ: somewhere it is full, somewhere it is limited. But with properly prepared documents and a reliable provider, everything goes without any unnecessary complications.
International Entrepreneurs and Business Owners
Foreign entrepreneurs can also open a corporate account in the UK even without a local incorporation. If you run or plan to register a UK business, you’ll need a bank account for transactions, taxes, and operations. This can be done through both traditional banks (e.g., Barclays, HSBC, Lloyds) or fintech platforms (e.g., Wise Business, Tide, Revolut Business), often without needing to visit the UK.
While verification is required, including information about directors, ownership, and source of funds, UK banks are generally receptive to international clients who meet compliance standards. Banking in the UK is not a hurdle, it’s an opportunity to connect your business to a global financial hub.
Opening a bank account online:
procedural aspects
Creating a digital account is a step-by-step procedure where every step counts. To gain access to the British banking system, it is important to go through each stage correctly: from choosing an institution to confirming your identity. Below, we'll take a closer look at how the application process works in a clear and step-by-step manner.
Step-by-Step Application Process
The first step is to choose a bank or financial platform. As already mentioned, there are traditional banking institutions (e.g., HSBC, Barclays, Lloyds) as well as modern fintech companies or electronic payment institutions (EMI) such as Wise, Revolut, or Monese. The main difference is that banks have a full banking licence, while EMIs are authorised to provide payment services, hold funds, and issue IBAN accounts, but cannot, for example, issue loans or accept deposits. EMI processes are usually faster, easier to register, and more relevant for international payments. Traditional banks, on the other hand, have stricter requirements but can offer a wider range of financial services.
Once you have decided where you want to open a bank account in the UK, the next step is to fill out an online application form. The form usually requires you to provide basic information: name, contact details, country of residence, and, for businesses, the type of company or field of activity. Depending on the service you choose, creating an account may precede filling out the application form or follow it. This varies from service to service.
After entering all the data, you proceed to the identity verification stage. This is a mandatory process, which usually involves uploading a photo of your passport or ID card, a selfie, or a short video, as well as automatic document scanning via the camera. If you are opening a business account, additional documents may be required, for example, incorporation documents, information about directors, beneficiaries, and a brief description of the type of activity.
After successful identification, your application is forwarded for final verification by the bank or financial platform.
What Documents You’ll Need
To make everything go smoothly, you should know right away what documents to submit and how. Photos should be clear, from the originals, without filters, frames or editing, just take them so that everything is clearly visible and readable.
Usually, one scan of your passport is not enough. Additionally, the services may ask for a selfie with a document or a short video. This is a kind of replacement for a personal visit to the bank.
For a business account, the list is a little longer: documents confirming the structure of the company, who its owner is, and why exactly you want to connect the account. This is not just a formality - these are AML and KYC requirements (i.e. anti-money laundering and customer verification).
Therefore, it is better to collect everything in advance - then the process will go faster and without failures.
How Long Does It Take to Open Your Account
How long it takes to open an account in the UK depends on the bank you choose and the complexity of your case. If you use digital platforms like Wise, Revolut or Monzo and already have all the documents, it can take a few hours or a day. The main thing is that everything goes without any unnecessary questions.
In regular banks, it takes longer: on average 3–10 business days, sometimes more depending on who you are, where you are applying from, and why you need such an account.
With business accounts, it’s a different story. They often ask for additional documents – about the company, founders, money, etc. Everything affects the speed: the country of registration, structure, checks, and internal rules.
Sometimes the application is processed immediately, then everything is fast. But on average, it’s better to count on 1–14 days.
Types of UK Bank Accounts Available
There are various types of accounts available in the UK, each with its own features, functionality, and target audience. The right choice depends on what you need it for: daily use, business management, or international payments in multiple currencies. Below, we will look at the three main types of accounts that can be opened online in the UK: personal current accounts, business accounts, and multi-currency digital accounts. Each type offers different features, costs, and opening times.
Personal Current Accounts
A current personal account is suitable for everyday use. It allows you to make transfers, pay for purchases, receive your salary, and manage regular payments such as rent or utilities. Such accounts are offered by all major banks: Barclays, Lloyds, HSBC, as well as digital banks such as Monzo, Starling Bank, etc. Some institutions provide a banking profile with full functionality, including a mobile app and a physical card. Foreigners can also use it, often without the need to provide a UK address. It is ideal for those who have just moved to the country, work remotely, or travel frequently.
Business Bank Accounts
If you have a company or you work as a self-employed person, sooner or later you will need a separate account for your business. Many banks and fintechs now allow you to open a business bank account online UK, and also connect accounting, automatically save reports, and see all expenses.
Self-employed people can initially use a personal account. But it is still better to have a separate one so as not to confuse personal and business money. This is convenient for the tax office and for you.
Companies and/or partnerships cannot work without a separate account. Often this is a requirement of the bank or the law. And in general, everything is simpler: accountants do not get confused, everything is transparent for counterparties, and there are fewer headaches with taxes. And you do not violate the bank's rules, because a personal account is usually not suitable for commerce.
The main thing is to choose a service that supports the desired currency, provides convenient online access, and works normally for your type of activity.
Multi-Currency and Digital Accounts
If you're in IT, e-commerce, or freelancing and deal with international clients, you’ve probably asked yourself how to open up a bank account. Now it is quite possible to use a multi-currency online account that can be opened completely remotely.
Such services are not exactly banks, but rather electronic money accounts. They are provided by financial institutions that have licenses from the FCA (British financial regulator) or other regulators in the EU. However, in terms of functionality, everything is very similar: there is an IBAN or details of a British account, you can receive payments, transfer funds, keep a balance in several currencies (GBP, EUR, USD, etc.), and exchange them at an adequate rate.
You can open a bank account in the UK from abroad, both as an individual and as a company or sole trader, without visits; everything is online. This is especially convenient if the business is registered outside the UK, and an account in pounds is still needed.
The only thing to note is that not all services work with all jurisdictions or types of activities. For example, some may not accept clients related to crypto or gambling. Therefore, it is better to immediately look at the policy of a specific platform before registering.
UK Bank Account for Non-Residents –
Key Benefits
Today, there are quite affordable ways to take advantage of the UK financial system without having to be registered or physically present on its territory, so a UK bank account for non-residents is available. For many entrepreneurs, this opens up new horizons. The reputation of British financial institutions inspires trust and helps to form a positive impression among partners. In addition, it provides comfort in managing finances: you can work with different currencies, separate commercial transactions from personal ones, and serve clients from abroad without unnecessary difficulties.
Access to International Payments
Financial services associated with British accounts provide quick access to transfers to different countries. Thanks to the SWIFT, SEPA, Faster Payments, and CHAPS systems, sending or receiving funds from abroad becomes easy and without the involvement of government agencies.
Many services operate in multi-currency mode: pound sterling, euro, and US dollar are supported. This allows you to receive payments from abroad in a convenient form, without unnecessary exchanges or delays. This is especially important for specialists working in the field of IT, freelancing or digital commerce.
The connection procedure is simple: just prepare a basic package of documents and go through identification (depending on the provider). Everything happens online - quickly and without unnecessary formalities. As a result, access to new markets and expanding opportunities in an international environment is possible.
Improved Credibility for Businesses
Businesses operating internationally are often faced with the need to demonstrate reliability. If your financial infrastructure is connected to British services, this automatically increases trust. Details in the local format allow you to interact with customers and platforms without unnecessary explanations, creating the impression of an official presence in the country.
This solution is especially useful for cooperation with large payment systems, investors, or B2B partners. Using the British format opens up new channels for convenient settlements.
Manage Funds in GBP, EUR, and USD
New generation platforms offer the function of separate balances in several currencies. You can store funds in pounds, euros, or dollars and exchange them on favorable terms. This simplifies payment for services and accepting transfers from different countries.
The advantage of a multi-currency environment is flexibility: you do not need to create multiple accounts or spend time on additional procedures. Everything works in one office, and most operations are without conversion losses.
Optional Accounting and Legal Add-ons
Some online banking advanced capabilities - automatic accounting, reporting, and preparation of documents for tax authorities. This allows non-residents to conduct business without the constant participation of an accountant.
Legal assistance is also available: consultations on labor relations, protection of rights or commercial agreements. Such services are especially useful for small businesses and those who are just starting to develop new markets.
Start Your Application Today
Get Expert Help and Open Your UK Account
Hassle-Free
Not sure where to start? We’re here to help. If you don’t have the time or inclination to delve into the details yourself, contact Icon.Partners — we’ll explain everything and guide you through every step.
We know all the ins and outs of banking in the UK for non-residents and can guide you through the entire process quickly and hassle-free. One of the most common questions we hear is, “Can a non-UK resident open a bank account?” The short answer is yes, if you meet the basic KYC and AML requirements.
Whether you are a freelancer, e-commerce entrepreneur, IT professional or investor, we will find a banking system that suits your goals.
Frequently Asked Questions About UK Bank Accounts
Eligibility, Compliance, and Practical Tips
For opening a bank account in the UK, you must meet basic requirements:
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AML (Anti-Money Laundering) – confirmation of the legal origin of funds.
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KYC (Know Your Customer) – verification of identity, address, country of residence, purpose of opening.
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For a business, we recommend having a short description of the company, ownership structure, and website link, if available, prepared in advance.
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Also, check in advance whether the service you have chosen is licensed by a special regulator.
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Carefully read the terms of service regarding transaction limits, currency conversion, the possibility of connecting payment systems and withdrawing funds, and the availability of IBAN or UK Sort Code details (for companies).
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Additional tips:
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Keep copies of all documents submitted.
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Be honest about the purpose of the setup.
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If you are unsure, consult experts who offer preliminary document verification.
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Do not apply to several banks at the same time, as this may arouse suspicion.
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"Their adept use of technology for communication and project management streamlined the entire process."
Thanks to Icon.Partners' efforts, the client was able to integrate with major platforms, such as Google, Facebook, and Stripe, and optimize their platform. The team was highly supportive and responsive from a workflow standpoint, and internal stakeholders were particularly impressed with the service provider's flexibility, professionalism, and technical prowess.
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CEO, VorfahrQR UG
Germany📍
Apr 10, 2024
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