If you resign as a director or sell your business, we have to temporarily pause your business account. This happens because our agreement is tied directly to the registered directors of the limited company. Unfortunately, our system doesn't let a new director take over an existing account at the moment.
⚠️ Because the account is paused, any incoming payments will automatically return to the people who sent them, but we'll help you sort out your remaining funds or reactivate your account smoothly.
Why your account is paused
When you're no longer listed as an active director on the Companies House website, we must pause account access. We do this because the original agreement was made on behalf of the business and specific registered individuals. Since we can't swap or replace directors on an existing account, we have to suspend access to the account and safeguard any remaining funds.
How to reactivate your business account
If you want to keep using the account as a temporary measure to help get things sorted, the current director needs to reinstate you on Companies House.
We'll also need to confirm the identity of anyone new listed, including any new Directors or Persons with Significant Control (PSCs). To do that, please message us with the following items:
A valid photo ID, like a passport or driving licence
Proof of address for any Persons of Significant Control (PSC). You can see the types of documents we accept to confirm their address here.
Once received, we'll then get everything running again for you, and you can either continue operating the account as normal or organise the transfer of any remaining balance with the new Director. you can organise the transfer of any remaining balance with the new Director. 🏛️
If you won't be returning as Director, we need to close the account and transfer funds
If a new director is taking over, they can't use this account. However, we'll help them access any remaining money so you can close things down cleanly.
Please ask one of the remaining directors to contact our support team directly from their own email address. They should use 'Resigned Director' as the subject line and provide these details:
A valid photo ID, like a passport or driving licence
The bank details where we should transfer the remaining funds
Photo ID for any outstanding Persons of Significant Control (PSC)
Proof of address from the last 3 months matching their address shown on Companies House (we'll need 2 separate documents if their home address isn't visible there, eg. if they have registered using a virtual office address)
Once we receive these details, we'll process the transfer and help you wrap everything up. 💬