Contractor Bank Accounts

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As a limited company director, one of your responsibilities is to open a business bank account. Because the wages you earn through your company must be separate from your personal account, your company is classed as a separate entity and is responsible for its own finances.

Finding a bank to suit your WorkStyle is a challenge faced by many contractors and it can be hard to know where to turn for the best advice. But ClearSky are here to help in your search for a business bank account.

Choosing the right contractor bank account

Choosing a bank which understands your needs is crucial, so it is important that you are as well-informed as possible when you make your decision. There are a number of high street banks who offer competitive packages on business accounts, but these banks generally do not understand the nature of contracting. It is also not advised to use the same bank for both your business and personal accounts.

You should look for a bank which specialises in business accounts and is experienced in managing the finances of freelancers. This business will have a greater understanding about the unique way limited company contractors work and can provide help and support for your unique financial needs. You can find more information about limited company bank accounts here.

Cater Allen business banking

ClearSky has partnered with Cater Allen to provide business banking solutions for limited company directors. Cater Allen are experienced in providing support to contractors and their Reserve Account is tailored to the needs of limited companies and the self-employed.

Contact Cater Allen

To discuss opening a business account, simply contact Cater Allen on 0800 092 5500 or email

Why choose Cater Allen?

24/7 access to balances and transactions via internet and telephone

No need to provide bank statements – accountants have access via ‘view only’ access of internet banking

No account balance fee however other charges may still apply

Multi-currency accounts and debit cards

You will be supported by the expertise, infrastructure and security of Santander

Your account can be opened online or by telephone usually within 3 days

No need to come into a branch – everything is handled remotely via telephone or post