2 Responses to How long does it take to open a business bank account.

  1. Gaz says:

    Having tried to open a business bank account with Lloyds TSB I am now at the point of steam coming out of my ears!

    I started to open my account over the phone on the 24th May 2013. I have just spoken to them now (27th June) and they are still talking cr@p about having to wait another 4 working days to have my signature electronically scanned before any payments can go in – this will be 28 working days (it takes an hour to open a personal account)!

    They have not flagged any problems up to me and I have been chasing them twice a week to get it sorted.

    If you are reading this then please take my advice and do not go anywhere near Lloyds when trying to open a business bank account. The amount of bullsh!t I have had to put up will from b3llends in a call centre is past belief.

    I want to change banks as I believe there must be better but I don’t want to wait any longer as I have 3 weeks pay sat in my employers account giving them interest not me.



  2. EHK says:

    Hi Gaz,

    Yeah sounds like a total nightmare.
    Business bank accounts do take longer, no matter who you go to, typically 3-4 days after meeting the bank, in most cases that would be HSBC.
    It’s for compliance checks, a polite word for checking for any money laundering and alike. It can take up to 10 days depending on the nature of the business, destinations and amounts involved.
    Having a personal account with the same bank makes no difference, you still have to go through the hoops irrespective of the length of time you’ve been with them.
    Anyway thanks for the tip and will warns clients considering them as bankers lol.

    Cheers, Jeremy.

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