Am I eligible to open a Business Savings Account and what opening checks will you do?

To open a business account with us you must be:

• A limited or unlimited company (we don’t provide accounts for limited partnerships, limited liability partnerships, partnership, sole trader, clubs, societies or charities) ​
• A business that is only tax resident in the UK
• Over 18 years of age, UK resident and only tax resident in the UK - this applies to all controlling persons, significant owners and directors
• You can't be a US citizen
• You need to own a mobile phone and have an email account

When you apply to open an Aldermore account you must give us details of a current account in your business’s name. We call this your linked nominated account. Your business current account provider must be a UK bank or building society, authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Your business current account must allow electronic transfers to be made and received, and we may ask you to send us a bank statement to confirm your account details.

There are certain types of bank account that we can’t accept as your linked nominated account, as they aren’t fully licensed and regulated. These include accounts held with e-money providers.

We can't accept client money or hold accounts in trust.

We need to check your identity and address before we can open an account for you. This will mostly be done electronically, but we may need you to send some identification to us.

If we ask you to provide identification documents, we'll include details about how to do this when we get in touch.