Best UK Business Account for international trades?

[Lumily Trading]

Hi everyone,

I have just set up a limited company in the UK.
My main business is to import goods overseas, such as from China, and sell them in the UK via Amazon.

Just wondering if anyone has good recommendations as which banks provide suitable business accounts for these international trades please?

Any help would be much appreciated.

Kind regards
Yuan

 

[japancool]

Any of them.

Don't use banks for international transfers. Use a service such as Wise, it's much, much cheaper.

 

[WaveJumper]

Do a search on here many threads on opening business accounts as it seems quite an issue at the moment many banks are closed to new customers here's a couple of links which might be of interest:

https://smallbusinessprices.co.uk/business-bank-accounts/
https://www.nerdwallet.com/uk/busin...siness+Banking&utm_medium=187&utm_term=Banner

 

[Washington]

Are you a UK citizen or from China/Asia, this could influence if a bank will deal with you

The banks are hot on Money laundering etc and many are reluctant to open with UK business owned by non UK domicile

If China based, maybe HSBC is a good starting point as they have UK, HK, CN coverage

 

[Rob-Ed]

Can't speak for all banks but Lloyds have been pretty awful for us over the years. For making international business payments I use Transfermate, you may need to negotiate to get the best rates. I believe Transferwise also offer a similar service and rates, probably better for individuals though.

We receive international payments directly into our Lloyds GBP account but Lloyds apply ridiculous fees for this, so much so that I'll be switching when I can find an alternative such as Santander that doesn't charge for RECEIVING funds. Santander aren't taking on new customers at the moment, presumably due to fear of fraudulent applications for bounceback loans.

 

[japancool]

Santander aren't taking on new customers at the moment, presumably due to fear of fraudulent applications for bounceback loans.

Bounceback loans ended some time ago.

 

[Paul Kelly ICHYB]

What sort of international trades?

A SWIFT payment is different to a TT or Loc!