What documents do you need to open a business FX account?

Have your registered company name, Companies House number, registered office and trading address ready. If you operate under a trading name, show how it relates to the registered entity. A provider may ask for incorporation documents or other evidence even where it can find details online. Ask whether it retrieves records itself or needs copies from you.

Review the current directors, people with significant control and description of business activities on Companies House. Correct outdated details through the proper process before relying on them in an application. If your website describes something different from your records, explain the reason. Inconsistency can lead to further questions even when the business itself is straightforward.

If your business is not a UK limited company, ask which documents establish its legal form. A partnership, sole trader or overseas company can have different evidence requirements. Do not substitute a limited-company checklist for the provider's instructions. Explain any recent change of name, address or structure that appears in your documents.

The provider may need details of directors, relevant owners and anyone authorised to use the account. It can also ask who ultimately owns or controls the company, including through other businesses. A list of immediate shareholders may not be enough where another company sits between your business and the individuals behind it.

For a more complex structure, prepare a simple ownership chart showing each company and the people at the top of the chain. Include accurate ownership percentages and explain control arrangements where relevant. The provider will tell you which individuals it needs to check. Do not assume Companies House reporting thresholds are the provider's complete document requirements.

Identity and address evidence might include a passport or another accepted identity document, plus a recent document showing a residential address. Acceptable documents, age limits and verification methods vary. Some providers use digital checks. Ask before paying for certification, and check whether a scan, original or certified copy is required.

Write a short description of the goods or services you sell, who buys them and how you are paid. Use plain terms rather than copying a broad marketing slogan from your website. Explain whether you manufacture, import, distribute or provide a service. This helps a provider understand the payments that will pass through the account.

You may be asked for customer or supplier invoices, contracts, purchase orders or evidence of existing trading. Choose documents that support your explanation and connect to the expected payments. For a newly formed company, ask what it accepts before you have a trading history. A business plan or agreed contract may be relevant, but acceptance is not assured.

Where a payment involves an unfamiliar supplier or a new country, be ready to explain the commercial reason. If the beneficiary name differs from the supplier name, investigate and explain that rather than overlooking it. Documents should reflect genuine activity; do not create invoices solely to make an application appear more established.

Estimate the currencies, countries and amounts you expect to use. A rough monthly range can be useful, alongside the number of payments and any seasonal peaks. Tell the provider whether you pay suppliers, receive customer payments or do both. If the pattern changes later, you may need to update the information.

Providers may ask where funds come from and request evidence such as business bank statements, trading income records or documents explaining investment or lending. The evidence needed depends on the circumstances. Explain money coming from a director or another company rather than describing every receipt as customer income.

For an immediate supplier payment, have the invoice, beneficiary details and due date ready. Do not assume account approval also approves every future payment. A provider can request further information for a particular transaction. Give yourself time to respond and use the contact or secure upload process it has confirmed.

• Currencies you need to buy, sell, send or receive.
• Countries where suppliers, customers and payment accounts are based.
• Expected monthly amounts, frequency and seasonal changes.
• Typical invoice amounts and payment deadlines.
• How the business receives the money used for payments.
• Whether you want to ask about future currency contracts, without assuming eligibility.

Group your documents into company records, people, trading evidence and payments. Use clear filenames and keep track of dates so you can spot an out-of-date address document. Ensure scans are readable and complete. If a document uses another language, ask whether a translation is required and which form the provider accepts.

Avoid sending everything you hold just in case. Ask for a checklist, send the requested evidence and explain any gap. Personal identification and bank statements contain sensitive information. Confirm the provider and its upload channel before sharing them, and limit access within your own business to people who need to handle the application.

Keep a copy of your answers and a log of requests so that another colleague can help if you are away. Do not assume an earlier application to a different firm can be transferred unchanged. Providers have their own processes and must complete their own checks. A tidy folder supports the process; it cannot replace a provider's acceptance decision.

Zentra asks about your business and payments, then checks publicly available information against a provider's written requirements before considering an introduction. We can help establish whether there appears to be a suitable fit before you spend time applying. Your details are shared only with a provider you have agreed to be introduced to.

The introduction is free for businesses. We cannot guarantee approval or that no more documents will be requested. Zentra is not an FX or payment provider, does not hold client money or give financial advice, and is not FCA-authorised. The FCA-authorised provider completes its own checks and supplies any service under its own terms. Be ready to answer its questions even after our screening.