Opening business bank accounts in Scotland

When you set up your company in Scotland, you need to open a business bank account. Find out what you need to do and how long the process takes.


When you set up your company in Scotland, you’ll need to open a business bank account. Each bank has its own requirements, processes and timeframes for opening an account, which can take three weeks to three months, depending on the bank you choose. Banks also conduct their own security and anti-money laundering checks.

A representative of your company, such as a director, usually needs to meet with the bank in-person to sign a bank mandate to open the business bank account. Normally a company representative must reside in Scotland and the place of business address must also be based in Scotland.

To open a business bank account, you usually need to provide:

  • A business customer application outlining your company’s activities, projected turnover and transactions details
  • Photo identification and proof of address for all directors and any substantial beneficial owners and shareholders
  • A mandate for companies registered under the Companies Act that includes the details of all signatories
  • Certificate of Incorporation verifying the registration of your company
  • Company structure chart showing ownership and respective percentage share held
  • Additional documents may be required by the bank, depending on their requirements

Bank statements:

  • If you’re a newly registered subsidiary of an existing company, you must provide statements for the last three months for the parent company
  • If you’re a new business, you must provide the latest three months of personal bank statements of the business owners, directors and principal controllers
  • In both cases, only original or certified copies are accepted

Once your business bank account is opened, you can bank online or use your nearest bank branch for your business needs.