1. Supported Company Structures & Entities
We can support the following entity types:
Registered Companies Limited by Shares (Ltd) based in the UK
Sole Traders based in the UK
Unsupported Entities: We cannot accept applications from any other structure, including:
Private Limited Companies by Guarantee
Partnerships (including Limited Liability Partnerships [LLP])
Public Limited Companies (PLC)
Community Interest Companies (CIC)
Clubs, associations, or non-registered organisations
Trusts, funds, or Royal Charter companies
Registered societies (except credit unions)
Unlimited companies
Dormant companies, shell companies, or offshore entities
2. Requirements for Supported Entities
For Limited Companies (Ltd):
Companies House Status: Must have an active status on UK Companies House with at least one active company director listed.
Regulatory Permissions: You must hold the correct regulatory permissions for the products and services you offer (e.g., if you issue e-money, you must be licensed as an Electronic Money Institution [EMI] in the UK).
For Sole Traders:
UK Registration: You must be registered as self-employed/a sole trader with HMRC and operating within the UK.
3. Location & Tax Residency
UK-Based: Your business must be based, registered, and tax-resident in the UK.
4. Industry Criteria
We cannot offer savings accounts to companies or businesses whose customers operate in, or have direct connections to, the following restricted sectors:
Adult services, including pornography
Controlled drugs, including cannabidiol products
Dark web activities
Gambling, specifically unregistered and unregulated online gambling
Gas, including petroleum, natural gas and chemicals
Illegal drugs
Illegal goods, including counterfeit products
Mining and extractive industries, specifically involving the extraction and burning of fossil fuels
Oil production and sale
Online gaming, specifically games that support in-game payments and allow funds to be transferred between players
Political NGOs
Precious metals and stones
Public administration and compulsory social security, including things like defence, immigration services, and foreign affairs
Remittance, currency exchange, and money service businesses where funds can be exchanged as cash, both domestic and international
Rotating savings and credit associations (ROSCAs), also known as savings circles
Scrap metal
Waste management
Weapons manufacturing and selling
Still have questions? If you are unsure whether your business meets these requirements, reach out to our support team.