If you’re not in the UK but want to have a UK IBAN to do business there like a local - the good news is that it’s completely possible with wamo. wamo’s sub-account features mean that wherever you have opened your wamo account from, every sub-account you create gives you the option to choose either an EU or UK IBAN connected to that sub-account.
Create your account online
These days the best business financial services options are online and digital-first. Challenger and neobanks can offer all the features of a traditional institutions with the added benefits of smart tech security, efficiency and speed. So, the first step to getting a UK IBAN for your business finances is to open a business account that offers IBAN options. In order to register an account with wamo, simply download the wamo app from the App Store of Google Play or start the process here on the website.
Whether you are registering from within or outside the UK, as an international business owner your primary account IBAN will depend on the country your business is registered in, or on where you reside. Once you have your wamo business account up and running, you’ll be able to open as many sub-accounts as you like and for each sub-account you create you’ll be able to choose either an EU or UK IBAN for your business.
Get your account in minutes
The great news is that, where traditional institutions can make opening a business account in the UK a long and complicated process - especially when you’re not in the UK - you can have a wamo account up and running in no time. Registering takes 10-15 minutes if you have a few bits of information ready and applications are checked and validated quickly - if everything is in order the whole process can be completed and your account up and running within the hour.
To register with wamo all you’ll need is your ID and business registration number. If you’re registering a company you’ll need IDs for each director and UBO (read a step-by-step guide here). You’ll be asked for a few personal and business details and will record a short video as well as scan your ID (passport or driving licence) so that your identity can be validated for your own security.
Open an account without any paperwork
At wamo our goal is to remove as much of the hassle of opening a business account and conducting business as possible - this means cutting out the maximum amount of paperwork. Once you have gone through the speedy process of opening your wamo business account, you’ll want to get straight onto creating a sub-account in order to generate your UK IBAN. Again, this involves no paperwork at all and can be done in a matter of minutes.
Each sub-account that you open is a full account in its own right. You can link both virtual and physical Visa debit cards to each account, send payment links to request payments into that specific account and of course use the account with your UK IBAN to make and take payments in GBP.
Growing your business into the UK market can be a hassle-free, cost- and time-saving process, it’s all about choosing the right business account.