Banking for Freelancers & Self Employed
Freelancers and the self-employed in the UK can often find it difficult to get a personal bank account. Especially if they didn’t have a bank account before starting freelance work or being self-employed.
High Street Banks
As there is never a complete guarantee that a freelancer or self-employed person will have a monthly income, traditional High Street Banks are often unwelcoming to offering their bank accounts.
Personal Banking Accounts for Freelancers and Self Employed in the UK
As freelancers and the self-employed tend to work on various short-term contracts with multiple companies, income one month can often be very different from the next. This flexibility of work is what the traditional banks don’t take into consideration as they often stick to very rigid rules and requirements of needing to have a minimum monetary deposit requirement into the bank account each month.
These rules and requirements often don’t suit many freelancers and those who are self-employed and as such, effectively become financially excluded and another figure in those that are unbanked or underbanked.
Personal UK Current Accounts
Not all is lost if you are a freelancer or self-employed and are struggling to get a bank account. There are other options of personal current accounts available other than that of a traditional high street bank.
At Suits Me®, we strongly believe in financial inclusion and that no one should be without a bank account to manage their personal finances and money.
Upon account opening, customers gain instant access to their account details (account number and sort-code) and online banking account and mobile banking app to be able to start managing their money and finances with a full array of banking features.
What do I Need to Open a Suits Me® Account?
To open a Suits Me® account, you’ll need to be 18 or over and have one of the following;
- Driving License (UK Nationals only)
- National ID Card
How to Open a Suits Me® account
Opening a Suits Me® account is quick and easy using our online application form. Taking a matter of minutes to complete, accounts are opened within 3 minutes.