Streamline your financial operations, gain more control over your money

Online company formation and business account for entrepreneurs.

Start your business with confidence

With our support, you can get your company up and running quickly and easily.

  • Our team of experienced professionals will guide you through the process of forming your company
  • We make it simple to get your company registered online.
  • We provide ongoing support and guidance to help you grow and succeed

Sign up now to start your UK LTD company with confidence and support.

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The business account for entrepreneurs

With GoSolo you can easily access your account information, make payments, and track your transactions from any device.

  • Convenient access: Our platform is available 24/7, so you can manage your finances on your schedule
  • Secure: We use state-of-the-art security measures to keep your information safe
  • Easy to use: Our intuitive interface makes it simple to navigate and use our platform
  • Real-time information: Stay up-to-date on your account activity with real-time updates
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Register your company, get a business account and manage your business - all in one place

Company
UK company formation
Account
GBP business account & MC Business Debit
Address
Serviced virtual business address
Tools
Get paid fast, stay informed

Business account FAQ's

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.

Is GoSolo a bank?

If by “bank” you mean an institution that has a physical location and lots of cash stored in vaults then, no, we’re not that. 

If you mean an institution that protects your funds and is as strictly regulated as all those physical institutions that have vaults of gold then, yes, we are that. 

The lines and definitions of what is a bank and what isn’t have blurred since the advent of FinTech. Banks are no longer the only type of institutions that can handle your money for you.

Let us explain:

So what is GoSolo?

GoSolo is an institution that handles electronic money. So is Mastercard. So is PayPal. So is Stripe. 

We have been approved by the rigorous and stringent rules set by the FCA (the Financial Conduct Authority) to be allowed to operate as a legal, responsible and ethical financial services firm. These are the same rules that banks must operate by. 

Only by continually adhering to the FCA’s rules (and regularly reporting what we do) can we be allowed to continue to operate. 

Our authorisation from the FCA as an electronic money agent allows us to facilitate business transactions and deliver certain financial services. 

We are not allowed, however, to provide loans or FSCS deposit-guarantees. And we don’t handle physical money, whether that be cash or cheques. Unlike many traditional banks, we don’t offer phone assistance. (Although, let’s be honest, often that type of “assistance” leaves much to be desired!) But we do have a support team that can assist you by chat, WhatsApp or email. 

Rest assured, however, that your money is 100% protected, secured and safeguarded in a “ring fenced” account with a tier-one UK bank that we have partnered with. Ring-fenced means that we don't have access to it and cannot move or use it somewhere, you are always in total control.

To be absolutely clear: Your money is safe with us.

Additionally, all transactions you run on your card are handled by the Mastercard network and are entirely protected under the Mastercard rules. 

The benefits of not being a “traditional bank”.

Because we are not technically a traditional bank, we are free to invest in and to build technology faster and provide services that will assist users in the general area of their businesses and finances. Not being held down by the label of a traditional bank means we can be more innovative and listen to users’ needs more easily. 

Our focus is on businesses and helping businesses to function with as little hassle as possible. 

For that reason, we offer more than just a place for your company to hold its electronic money: We also register your company for you, give you simple invoice templates to send to your clients, automatically log payments for those invoices and even chase up slow payers, all within GoSolo!

Instead of having to invest in a basic accounting package and an online bank, we combine the two, in addition to taking the pain out of registering your Limited Company in the first place. 

Traditional banks tend to focus on where to invest deposited funds. Our primary focus is on how to deliver fast service and innovation to our users. 

Because we are small (by design), we are also more able to consider the requests of all our users, as opposed to only what “the majority” wants.  

Legally, there are some differences between your GoSolo business account and a traditional business bank account. 

But we have found that those differences don’t matter to users. People want a seamless, easy way to handle their money, not complicated forms and the slow-moving wheels of finance which can often be more of a hindrance than a solution in today’s fast-paced world.

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.

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 do I need to register a Limited company via GoSolo?

If you live in the United Kingdom

  • A valid government-issued photo-ID document (Passport, Driving License, BRP), and
  • Proof of your UK address (council tax, utility bill, bank statement), must be issued in the last 3 months
  • Part of the All-Inclusive Package, or can be purchased separately (one time £25 registration fee applies)

If you live outside of the United Kingdom

  • Two valid government-issued photo-ID documents (Passport, Driving License, or similar), and
  • Proof of your local address (we prefer a personal bank statement), Issued in  ENGLISH, with your name matching the name on the ID and the document issued in the last 3 months
  • In some cases, we may have to complete additional checks in order to process your application
  • Pay a £499 application fee. If your application is not successful, we will refund you the money

There is detailed information about new Limited company registration in our blog How can I register my company with GoSolo?

https://gosolo.net/blog/post/how-to-set-up-a-private-limited-company-ltd-with-gosolo

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).

How do I deposit cash?

You cannot deposit cash into your GoSolo Business Banking account. We are constantly making changes to GoSolo and, if cash deposit is an important feature to you, please let us know here.

Can I set up a business account online?

With GoSolo you can open a business account online as well as register an LTD company. Actually, you get everything you need to start your business and even more. We have web, iOS and Android mobile apps to manage your business account. As an additional free service we provide multi-company access, you can send invoices and get paid directly in the GoSolo app, EFT payments, GoSolo partner offers and other useful services.

Is setting up a limited company right for me?

Sole traders have unlimited liability - meaning that they are personally liable when things go wrong. A sole trader may also be less tax-profitable than setting up a limited company. But still a sole trader is the most common legal structure for private entrepreneurs in the UK.

We recommend you read more about different factors that can help you to make a choice on our blog The Pros and Cons of Freelancer vs Limited Company

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.

How quick can I set up a business account?

To open a business account in GoSolo you need 10-15 minutes to pass onboarding and if all is OK you will get a business account the same or the next day. 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.

What is the share structure for a newly registered company, opened using GoSolo service?

If you register a company via GoSolo, the default share structure is 100 shares for the total value of £100.

All shares issued are non-redeemable and rank equally in terms of each of:

  1. Rights to take part in all approved dividend distributions
  2. Voting rights – each share being entitled to one vote
  3. Rights to participate in any distribution of capital on winding up of the company.

Can you help with accounting?

We have partnered with more than 50 accountancy firms. Please contact us via our chat or support and we may be able to recommend you one of them.

Do you have Direct Debit on GoSolo accounts?

Direct Debit is not part of the initial GoSolo offering. We are constantly making changes to GoSolo and are going to deliver Direct Debit soon.

What are the legal documents that I will receive after company formation?

You will receive official (model) Articles of Association and Certificate of Incorporation. These documents are approved by Companies House. They are not apostilled.

What is the cash withdrawal limit of GoSolo card?

Cash withdrawal limit is £250 per transaction, £1000 per day.