Current account & savings account opening FAQs
Got a question related to applying for a business current account or savings account? We’ve summarised some of the most frequently asked questions about our application processes below.
To ensure we always stand-by our ethical business banking roots, from your first account opening we like to get to know your organisation personally and help you to thrive.
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To open an account with Unity Trust Bank, we need you to tell us the name, address (correspondence and registered addresses – if they’re different) and telephone number of your organisation. You’ll also need to provide a brief description of what your organisation does, the number of employees/volunteers who work there, along with any company or registered charity numbers for your organisation.
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You’ll need to provide their name, personal address(es) they have lived at for the last 3 years, and contact details (email address and telephone number(s)). We’ll also need their position in the organisation, date of birth and nationality. For all your nominated internet banking users, you’ll also need to select their online banking permissions.
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For current accounts we need to know your estimated annual turnover, and whether you’re likely to make or receive overseas transactions. We ask that our local authority customers also supply a balance sheet total and annual budget. If you are looking to borrow from Unity Trust Bank then we also need you to confirm that your organisation has the power to borrow (for example, do any Articles of Association provide that the company may enter into funding or loan agreements?).
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Linked individuals include Directors, Trustees, Partners, Shareholders or Officers of the organisation, partnership or company. The term also includes all individuals owning or controlling (in their own name or via another person) 25% or more of the capital, profit or voting rights of the organisation, partnership, or company.
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We’ll need you to confirm the number of signatories you’d like on the account and how many are needed to authorise transactions.
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You’ll need to confirm how many users are required to make online payments between Unity Trust Bank linked accounts, and how many are needed to make external bill payments or standing orders online (consider choosing 2 or 3 in each case for banking security).
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Tell us the number of users who need to be involved in payments over an amount specified by you. You can specify whether this applies to internal transfers, external payments, or both. You are also able to specify the named individuals who need to be involved in these transactions.
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Many of our customers operate in cash, so it’s simple to set up the facility to withdraw cash from your Unity current account. When completing the new account application let us know how much you’ll be withdrawing each month. Please nominate which branch of NatWest, RBS or Ulster Bank you’ll be withdrawing the cash from by telling us their branch address.
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Contact us via our website form or by telephone to apply for an arranged overdraft to help cover unexpected payments. Please note overdrafts are subject to our eligibility criteria. Please refer to our Key Features Document for further information.
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Unity Trust Bank does not have high-street branches, but many of our customers receive cash donations and membership fees, so we’ve made it easy for you to pay cash into your account. Visit any NatWest, RBS or Ulster Bank branch and you can pay in up to £5,000 in cash per day, and 149 cheques per paying-in slip.
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To pay in a cheque, please seal your cheque(s) and completed paying-in slip in an envelope (no stamp needed) and send it to our freepost address:
Freepost UNITY TRUST BANK 1984
Please note: ‘UNITY TRUST BANK’ must be in capitals and the address must be on one line exactly as shown above.
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Unity Trust Bank participates in the Current Account Switch Service. This is a free service that lets you switch your current account from one participating bank or building society to another in seven working days.
Find out more here
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Yes. The form saves automatically as you complete it, so if you need to break off, click ‘continue later’ and we’ll send a link to the email address you shared in the first section. You can also upload your submission form, application form and supporting documents to your online application using the link provided. This link is valid for up to 30 days.
If you need it, you can request a new link to the portal by selecting Resume Submission.
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Once you have completed the application form, you will be able to download a copy of your application form and transfer mandate (as applicable).
The submission/application form will need to be:
- Printed
- Signed by all signatories in black ink
- Accompanied by any supporting documentation (as specified on the submission form)
- Uploaded online via the link provided or scanned and emailed directly to us@unity.co.uk.
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Item Required if Required for current or deposit accounts Completed electronic application form and signed submission form uploaded online via the link provided or scanned and emailed directly to us@unity.co.uk Always required All Information about organisation e.g. number of employees / volunteers, activities Always required All Personal details of individuals: - Their full name
- Date of birth
- Nationality
- Current home address
Previous address if they have moved within 3 years
Required for all individuals listed on the application form, e.g. key contact, signatories, internet banking users, trustees, directors, linked individuals All A copy of the organisation’s last six months’ bank statements The organisation has been operating for over 12 months unless it is a Trade Union branch or local authority All Business plan The organisation is a start-up unless it is a Trade Union branch or local authority All £500 initial deposit (by electronic payment). Please visit the Running Your Account page for instructions to pay into your account. All organisations except for Trade Union branches or local authorities Current account only, not required for deposit accounts Governing documents Not required if the organisation’s Head Office already banks with Unity For all other organisations:
Required if the organisation’s governing documents are in this list:
- Constitution
- Rules
- Trust Deed
- Royal Charter
- Standing Orders (in the case of councils)
- Letter on headed paper and minutes from the last meeting held
Not required if the organisation’s governing documents are in this list:
- Certificate of Incorporation
- Memorandum of Association & Articles of Association
- Industrial & Provident Certificate
- Department of Enterprise, Trade & Investment (DETI) Certificate
- Confirmation of diocese
All Proof of identity and residence for individuals Full details here: www.unity.co.uk/identity
Only required if electronic identity searches are unsuccessful for any individual listed on the application form. Customers are notified if the searches are unsuccessful.
(Identity checks are carried out automatically when the application form is submitted)All -
We’re here to help if you have any questions. Email us at us@unity.co.uk or call us on 0345 140 1000.
Legal Notice
All applications are subject to status and eligibility criteria.
We may not accept all of the signatories included on your account application. We carry out certain checks and procedures as we are required by law to check the identity of everyone linked to the account. We may search electronically using the information you give on this form and in some instances, we may require further information or documentation. If any individual on the account is a non-UK resident or a non-UK resident for tax purposes, we may require additional details. Find out more information here.
If you give false or inaccurate information and we identify fraud, we will pass the details on to fraud prevention agencies to stop fraud and money-laundering. Find out more information here.
It’s simple, secure and stress-free to switch to us
If you’re ready to switch your Business Current Account to Unity Trust Bank, we’ll make sure it happens like clockwork. It’s guaranteed to take 7 working days, it’s free, and it’s all taken care of by the Current Account Switch Service.