When you connect by Open Banking, you choose your bank from a list and log in through that bank's own secure screens. Most UK business current accounts are supported because Open Banking is a UK-wide standard that the major banks take part in.
What works best
- A business current account in your company's name
- The account your company actually trades through day to day
- An account you have online or app access to
Use the company's main account
Connect the account where your real trading happens, not a dormant or rarely used one. We are trying to understand how the business operates, so a quiet account gives us an incomplete picture and can slow your decision.
If your bank is not listed
If you cannot find your provider or the connection will not complete, you can upload recent business bank statements instead. Reviewing documents takes a little longer, but it lets us move forward.
Personal accounts
We need to see the company's finances, so a director's personal account is not a substitute. Because we lend to limited companies and LLPs only, the account should belong to the business. This is business finance outside the consumer-credit regime and is not covered by the Financial Ombudsman Service or FSCS.
See also: How long does a lending decision take?, Do I upload bank statements or connect by Open Banking? and What happens if I cannot connect my bank?.