How to get a UK International Bank Account Number (IBAN) for your business, as a non-resident
Communication Team
Communication Team

August 01, 2022

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How to get a UK International Bank Account Number (IBAN) for your business, as a non-resident

If you’re a non-resident to 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 banking options are online and digital-first. Challenger and neobanks can offer all the features of a traditional bank with the added benefits of smart tech security, efficiency and speed. So, the first step to getting a UK IBAN for your business banking 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 a non-resident 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 banks can make opening a business account in the UK a long and complicated process - especially when you’re a non-resident - 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.

Wamo.Io LTD incorporated and registered in the United Kingdom under the company registration number 12352849 and the operational office of which is at WeWork, 199 Bishopgate, London EC2M 3TY. Wamo.Io LTD (Firm Reference Number 922901) is an EMD agent of PayrNet Ltd which is an Electronic Money Institution authorised by the FCA under the Electronic Money Regulations 2011 (EMR’s) with Firm Reference Number 900594.

Wamo Solutions Ltd is registered under the Laws of Malta with company registration number C97355 and registered office at Dragonara Business Centre, 5th Floor, Dragonara Road, St. Julians STJ 3141, Malta. Wamo Solutions Ltd is an EMD agent of UAB “PAYRNET” which is authorised by the Bank of Lithuania under the Law on Electronic Money and Electronic Money Institutions (authorization code LB001994, license reference 72).

The wamo card is issued pursuant to licence from Visa. UK issuance is conducted by PayrNet Ltd and EU issuance is conducted by UAB PayrNet. wamo operates the wamo.io website and the app. wamo is not a bank, the current account is an e-money account. Issuance of Electronic Money and payment services is provided by PayrNet Limited. The Financial Services Compensation Scheme does not cover electronic money products. No other compensation scheme exists to cover losses from your electronic money account. Your funds will be safeguarded in one or more segregated bank accounts with a regulated third party credit institution and not lent out, which gives you protection against insolvency, in accordance with the provisions of the Electronic Money Regulations 2011.

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