Opening a business bank account quickly

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Libby James
Merchant Services Expert

Libby James is co-founder, director and an expert in all things merchant services. Libby is the go-to specialist for business with more complex requirements or businesses that are struggling to find a provider that will accept them. Libby is regularly cited in trade, national and international media.

Searching for a company bank account, fast

When starting a business there are lots of elements to consider, one of the first being opening a company bank account. Without one it can be hard to get the business off the ground and applying for a merchant accountmerchant account is impossible. Businesses looking to open business banking quickly can do so in a matter of hours, depending on the location of the company and the goods or services sold.

Our short guide highlights how to ensure your business bank account application is dealt with quickly and efficiently, meaning you can secure banking fast.

Where to apply for a fast business account

If time is of the essence, choosing your provider wisely can ensure you get your account live ASAP. With online banking options available alongside smaller more flexible banks, it is sensible to consider all options beyond high street providers. For example, smaller banks often receive fewer applications, meaning the underwriting process is dealt with swifter.

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Can I have business banking approved the same day?

There are providers who will supply business bank accounts on the same day (or next day) of application, others can do so in a matter of hours. The beauty of technology means that underwriting can sometimes be taken care of electronically, meaning that the documentation needed to accompany the application is limited – therefore the account gets approved faster.

Do I need to be incorporated before applying for a business bank account?

You will need to register your company before applying for business bank account. Expect your application to be cross referenced with companies’ house. If you are a Sole Trader, make sure you register with HMRC.

How much does same day business banking cost?

When applying for business banking you’ll be asked to pay a small application fee, to cover administration costs. The cost of the account is then a monthly charge, with additional costs per transaction made – for example paying in cash/cheques or setting up standing order/direct debit.

How Merchant Advice Service can help get business banking quickly

Merchant Advice Service alongside partnering companies can offer business bank accounts which are approved quickly. Speak to us today to start your application.

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How quickly can I be approved for business banking?

Our partners aim to get you up and running within four hours (Monday-Friday). To ensure you are prepared before applying for a fast business bank account, make sure you have the following;

  • ID
  • Proof of Address
  • Company registration/ proof of business

What to expect when applying for business banking quickly?

After a short online application, you will be contacted via telephone by the underwriting team to discuss your request. Once accepted, your account will be live within a matter of hours.

Quick business bank account for high risk companies

Some high-risk businesses can be accepted for fast business banking, this is reviewed on case by case basis. Speak to our experts today before applying and we’ll be sure to point you in the right direction.

Served notice by your business bank and need a new account quickly?

There can be many reasons as to why you’ve been served notice or declined by a business bank provider such as a new director failed credit checks or the bank updated their risk banding, however this doesn’t mean you won’t get accepted elsewhere.  It’s important to find a suitable alternative quickly and efficiently so before applying for a new fast approval account, speak to our advisors. They can help to ensure your application is packaged in a way that maximises your chances of being accepted quickly.

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Libby James

Libby James Co-founded Merchant Advice Service alongside David Bird in 2016. Her finance background, coupled with retail and customer service experience, gave Libby the drive to bring transparency and non-biased advice to the world of merchant services. Having come from the heavily regulated mortgage and insurance industry, Libby found it puzzling that other financial sectors lacked regulation and transparency leaving customers confused and unable to make informed decisions when it came to accepting card payments. This was soon to become Libby’s obsession!

With the help of some of the industry’s best, Libby began to research acquiring banks, complex terminology/regulation, and the problems customers experience within merchant services and payment gateway markets. She spent years on sourcing solutions for complex clients, which previously others were unable to assist with. Libby established relationships with brokers and banks which would soon form the cornerstone of Merchant Advice Service. As a result Libby has been featured in high-profile publications across the web.

Libby is proud to be the entrepreneur’s champion, supporting start-up businesses regularly. Her industry insights can often be found on LinkedIn where she provides free of charge advice and money saving pointers. It’s safe to say she has her finger on the pulse of everything card payments related.

Libby speaks of her experience in founding and running Merchant Advice Service…

‘Merchant Advice Service is one of my greatest achievements to date. We help business owners to overcome card processing issues which can become detrimental to their business. We assist SME’s in finding suitable card payments solutions, helping them create their vision. Each and every day is different, exciting and fore filling. As technology advances I can’t wait to see the way in which the merchant services market advances, and I’m pleased that our business will play a part in educating company owners along the way.’

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