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What is my business type?

It's really important to select the correct business type when applying for Digital Banking. Selecting the wrong business type can delay your registration as we may have to return your application.

To help you select the correct option we have defined the business types available on the application form.

Sole Trader (T/A) - Type of business fully owned by one individual. Although the owner can employ other staff, the owner retains full responsibility and ownership for the business.

Firm/Partnership - Two or more owners which share the rights and responsibilities in the management of the business.

Limited Company (LTD) - A privately held company, which has shareholders with limited liability. The company shares may not be offered to the general public.

Club/Society/Unincorporated Body - Normally used by not for profit organisations like clubs and charities.

Public Limited Company (PLC) - A limited liability company that may sell shares to the public, It can be either an unlisted or listed company on the stock exchanges.

Limited Liability Partnership (LLP) - A partnership in which some or all partners have limited liability. In an LLP one partner is not responsible or liable for another partner's conduct.

If you're still unsure which business type you should select please contact your Business Manager.