Yorkshire Bank Business Banking

About Yorkshire Bank

Yorkshire Bank is UK bank that was built on community foundations back in 1859. Along with Clydesdale Bank they were brought under the Virgin Money brand, in October 2018, to offer businesses a wealth of combined banking knowledge and provide their six million customers a bigger and better business bank.

See our full Yorkshire Bank business bank account review of features, fees and how they compare against other online and high street bank accounts.

Yorkshire Bank pros & cons

Pros of Yorkshire Bank

• 25 months free business banking
• Branch network available
• Wide range of business finance products to choose from

Cons of Yorkshire Bank

• A monthly fee is charged once the free trial is over
• Negative customer reviews, regarding online and telephone banking

Yorkshire Bank current accounts

Yorkshire Bank accounts are available to current customers but any new accounts are opened through Virgin Money.

Yorkshire Bank offer two current accounts for business that are suitable for different sizes. These are the accounts available:

• Business Current Account - new customers and businesses switching banks are offered 25 days of free banking, so long as their annual turnover is less than £6.5 million.
• Business Choice Account - all other businesses that generate more than £6.5 million in turnover each year, can open this account.

These are the standard transaction fees:

Eligibility

To be eligible for a Yorkshire Bank account you must:

• Be a sole trader or be the director(s) of a registered business
• Have the right to live in the UK
• Provide proof of address
• Be at least 18 years old

During your application you will also need the following:

• Personal details for each business owner (including address, date of birth and contact details)
• Business details (including business address and contact details, if applicable)
• Your Companies House registration number (if your business is a Limited Company)

Opening an account

Here's how to open a Yorkshire Bank business account (keep in mind that Yorkshire Bank accounts are only available to existing customers):

1. To open online sign up from their website
2. To open in store find your nearest Yorkshire Bank and head on in
3. Complete their application - Yorkshire Bank will confirm your eligibility
4. Verify your ID - with photo ID such as a passport or photocard driving licence
5. Once approved you can start banking

Yorkshire Bank savings accounts

Yorkshire Bank have three accounts for saving on offer, instant access, notice and fixed term accounts.

See our Virgin Money review to see more.

Yorkshire Bank reviews

Yorkshire Bank score badly on Trustpilot with only 1.4 stars, from 448 reviews, with 88% rating them 1-star.

Information correct as of 29th January 2024.