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Banking Essentials

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When you start a business it is important that you keep your business finances separate from your personal accounts. That means whether you are a sole trader or a Limited Company you will need a bank account.

If you are starting a business and are looking for a Business Account then it is a good idea to talk to your existing bank first. All the main banks have a commercial division and some will offer you free banking to get you started.

Your existing bank will know who you are and will know your credit record which, if it is good, should make the process a formality. If you want to shop around and see what other banks have to offer then they will need to see your passport and a utility bill and they will run a credit check.

Most banks will offer a raft of services like electronic banking and app's which will make keeping on top of your finances easy.

The retail banks in Guernsey are:

  • Barclays PLC
  • HSBC
  • Lloyds
  • National Westminster/Royal Bank of Scotland

Please see our Business Directory for contact details.

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