Would you use Fire or Revolut for a business account as a temporary measure?

[Blackrock1]

Need to set up a UK legal entity, and if the experience with opening a bank account here is anything to go by it could take months to get a bank account open, the alternative is to open a revolut or fire for business account as an interim measure while we go through the hoops for the main account,

Anyone advise against this?

 

[StjohnDelahunty]

I use revolut for business for my company and its fantastic. no complaints. Infinitely easier and better that the usual highstreet suspects.

 

[cloughy]

Any issues using Revolut for Euro direct debits or standing orders, also looking at their basic version looks like close to free banking where receipts/payments are in Eur/Gbp is that correct?

Im aware there us no protection on the balance as no banking licence, but maybe in time they will get approval.

 

[Steven Barrett]

A client of mine gets most of his business from the UK and only uses Revolut. Works fine for him.

 

[SnowdaisyBell]

Lloyds were easiest to set up a UK account with for me, free account, works well

 

[StjohnDelahunty]

Any issues using Revolut for Euro direct debits or standing orders, also looking at their basic version looks like close to free banking where receipts/payments are in Eur/Gbp is that correct?

Im aware there us no protection on the balance as no banking licence, but maybe in time they will get approval.

No issues at all. Im on a 25euro a month plan which more than pays for itself on currency exchange at much better rates than the high street business accounts. The compliance stuff was very serious, they needed the same info as other banks but their systems just better and can be done online without the crazy notary public, unclear requirements, third secret of fatima approach of the main banks