Secure business account

  • GoSolo is powered by the Railsbank and Companies House
  • Your funds, data and business account are in safe hands
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Web and Mobile Apps

  • Manage your card and account in the GoSolo app
  • Track spending, save for taxes and get payments faster through FPS
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GoSolo is available on web, iOS and Android. Ready when you are.
Choose your preferred platform.
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Account opening

  • 100% digital: Just have your ID at the ready.
  • Fast set-up: Most applications will have a business account approved and opened within minutes.
  • Streamlined processes: We only ask for information we need. GoSolo saves time by extracting information from any documents you upload.
  • Intelligent auto-saving: Half-way through filling in an application? Pick up where you left off without completely restarting.
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Easy card management

  • All in one place: Well, almost. Everything apart from your physical card. That lives in your wallet. Mastercard debit cards arrive by post a few days after opening your account.
  • Complete control: Activate your card, view your PIN, freeze or unfreeze and unlock your card all within the GoSolo app.
  • More protection: All GoSolo accounts have Two-Factor Authentication (also known as 2FA or two-step verification) as standard. This means it’s more secure than traditional banking methods.
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GoSolo Account x XERO

  • Sync your GoSolo account data with XERO automatically
  • Connect to XERO directly from the GoSolo Web App
  • Importing account data for bookkeeping is easier than ever before
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Business account and payments FAQs

How much does it cost to open business account? What fees do you charge?

For current and most up-to-date details about the costs, please refer to our pricing page.

Can I open a UK business account from overseas?

Yes, you can. GoSolo is available to founders and entrepreneurs from around the world. 

GoSolo provides the UK company formation for non-residents with a business account. 

We are currently accepting users from 90 countries around the world, including:

  • The United Kingdom
  • The European Union
  • India
  • Israel
  • Hong Kong
  • Australia and New Zeland
  • Singapore and Malasya
  • The United States
  • Ukraine 

Can I pay internationally or accept payments from abroad?

We are working hard to bring you international payments and currency exchange as soon as possible directly from the GoSolo app, but these features are not available yet.

In the meantime, you can use alternative services such as Payoneer or Paysend or Wise to send payments abroad.

What do I need to open a GoSolo business account?

Before opening a business account with GoSolo, please check that you match the following criteria:

  • You have a Limited company registered on Companies House
  • Your Company is Active
  • You are a single Director and also a single Owner of the company
  • There are no other Owners or Directors
  • You are resident in one of the 90 countries supported by GoSolo and can prove this by providing several of the following documents posted to you recently: utility bill, council bill, bank statement or tax return
  • You have a valid ID document which we can compare against your selfie video

What is the limit on bank account transfers in GoSolo?

Limit on making payments using online banking is £50,000 per transaction. Inbound payments are limited to under £50,000 per transaction.

Is it safe to use GoSolo?

GoSolo Financial Limited is regulated by the FCA and powered by Railsbank.

If something bad happens to GoSolo, you can always recover your money through FCA.

Your e-money is in a “safeguarded” account, meaning that the actual money is with a Tier-1 (largest and most secure category) bank in the UK.

GoSolo Financial Limited is listed with the Financial Conduct Authority (“FCA”) an as E-Money Directive (“EMD”) Agent (FCA Ref No. 902961 under E-Money Institution (“EMI”), PayrNet Limited (“PayrNet”). PayrNet is authorised and regulated by the Financial Conduct Authority to conduct electronic money and payment services activities under the Electronic Money Regulation 2011 (FCA Ref No. 900594).

What is the limit on card transactions in GoSolo?

Card limit is £1000 per transaction, £5000 per day.

When will I receive my card?

Once your business bank account is open, your card will be dispatched to your selected address. It may take up to 10 working days to arrive.

Do you have a mobile app?

GoSolo Business Accounts Mobile Apps allow you to manage your account on the go. GoSolo Business Account is available on Web, iOS and Android app.

Redefining Business Account, the Gosolo Way

Don't stress about going to the bank to open a new business account. We make it possible to open a digital British business account in mere minutes.

You don't just receive a business account. Gosolo provides innovative tools to receive payments, track spending, and send invoices. The great thing is that most features are free.

If you're an aspiring entrepreneur, Gosolo can ease the process of registering a new limited company. We are similarly providing a refreshing banking experience with friendly human support. Curious to find out more about banking through Gosolo? Here is extra information to know:

Business Account for Small and Medium-Sized Enterprises

You may need business account if you plan to operate a limited company, regarded as a separate entity under the law. Hence, it requires an individual account.

Sole traders may skip on the option to have a business account. It's not the best decision. Differentiating personal and business transactions may become harder. It may contribute to inaccuracies when determining the tax obligation.

When you're ready to open a business account in the UK, you may either do it in person or online. If you're looking for more features and flexibility, it's preferable to take the online route.

Gosolo is a top choice for entrepreneurs looking to open a business account online. Your funds are securely held in ring-fenced accounts of a tier 1 bank.

So, consider opening a business account online as it's faster and easier than in-person. The process is secure. You still need to pass identity checks and provide credible information about your business.

What Do I Need to Open an Online Business Account?

As an authorized financial entity, Gosolo has imposed requirements for users intending to apply for an online business account. The checks ensure conformity with operational rules and permitted practices. They similarly keep the platform safe.

*Note that as of the moment, Gosolo only allows accounts for limited companies with a single director and owner.

If you’re a sole trader looking to apply for an online account, start by registering a new limited company with the Companies House. Gosolo can facilitate the registration and business account creation process for you.

Organizations that can’t open a business account online with Gosolo include:

  • Limited liability partnerships (LLPs);
  • Companies with multiple Persons of significant control (PSCs) and Directors.

To get started with a new business account you’ll need to meet the following requirements:

  • Age: Be at least 18 years old. Your ID should be ready for capture during the selfie verification;
  • Residency: Be a UK resident and supply proof of address. You can submit various documents, including utility bills, bank statements, tax returns, or council bills;
  • Business ownership: Be the single owner and director—businesses with multiple directors, partners, or PSCs are not currently supported;
  • Nature of business: The nature of business must not fall into categories regarded as prohibited, high-risk, sanctioned, or illegal as per our terms and conditions;
  • Trading history: Your company must be active. Proof may be required when the nature of the business is in doubt.

Opening a new business account entitles you to a MasterCard Debit card for regular business spending.

So, how do you get started? Access the registration form here. You can have your valid photo ID and other related business documents ready. We make the signup process faster by extracting information from uploaded documents.

Everything You Need in One Place, EFT Payments, Money Management, and More!

We recognize that you need more than a business account to succeed with your business. That's why Gosolo offers more features than are available with traditional business accounts:

  • Send and manage invoices: Use easily customizable templates to create professional-looking invoices. Do it within the mobile app or browser with no need to install invoicing software.
  • Receive payments faster through FPS: Receive instant domestic payments from customers through the Faster Payments Service. Transactions now take place within a few seconds from one bank to another.
  • Free MasterCard business debit card: Your physical debit card may arrive within 10 business days after application. Use it for business expenses to keep costs neatly separated.
  • Track and monitor spending: Track sales, revenues, and expenses from one place. You can see paid, overdue, and sent invoices. It’s also possible to invite accountants to review the records or share account statements.

Electronic Funds Transfer General Information

The concept of an EFT payment (electronic fund transfer) is not new. It's what makes bank money transfers possible, from one account to another between related or unrelated financial institutions.

Gosolo allows electronic funds transfer for business accounts. Here is some general information about making electronic fund transfers:

  • All payments go through the Faster Payment Service as standard: Rather than receiving your money in three business days, your account gets credited in seconds after a customer makes a payment from their personal or checking account.
  • Secured outbound transfers: With two-factor authentication in place, you can prevent scammers or unauthorized workers from making outbound payments.
  • Higher limits on your MasterCard debit card: You can spend up to £1,000 per transaction with a maximum daily spending limit of £5,000.
  • Allows international payments: Make secure payments to other UK accounts from your online account. Use your card to make international payments using business funds.
  • Full control over funds: Gosolo does not have access to your account funds by the nature of using ring-fenced accounts.
  • Maximum transaction limits for domestic transfers: Both inbound and outbound transfers to and from your online account are limited to £50,000 per transaction.

Benefits of Using Gosolo for Business Money Transfer, Payments, and Invoicing

Our goal is to simplify the process of receiving and sending out business money transfers. With the belief that managing financial aspects of a business should be as simple as possible, we also provide many more benefits:

  1. Fast money transfer: Supercharge your payments with transfers that take seconds, without the need to accept credit cards.
  2. Effortless invoicing: You'll be spoilt for choice with all the invoicing features. Set notifications and reminders, and even know when customers view invoices. With intelligent payments and invoices matching, Gosolo ticks paid invoices. Our invoice templates save you a lot of time spent starting from scratch.
  3. Easily manage your master debit card: Get a better hold of your business spending by having the capability to freeze and unlock your card from your Gosolo account.
  4. Business insights at your fingertips: Don't operate in the dark. The Gosolo mobile app provides insights about your business performance from easy-to-use mobile apps.
  5. Intelligent AI-powered cash forecasting: Receive estimates about your cash flow to anticipate future profits or losses. Our AI-powered logic structure utilizes real-time insights from your transactions for more realistic estimates and forecasts.

Ready to go the Gosolo way? Begin the effortless sign-up process and enjoy faster payments in the UK for your business.