Business Banking with a Personal Service
We are proud of the personal service you receive when you open an Arro Business Account – which can be crucial in the early days of setting up a new business, or if you are a sole trader who sometimes needs an independent voice when it comes to managing your money.
Arro accounts are not a business banking service as such – we are regulated to conduct electronic money service activities by the Financial Conduct Authority, which is slightly different from being a bank – and because of this, we can offer a fresh approach that you won’t find on the high street.
For example, customer deposits are not invested in risky stocks and funds, but are held safely in a secure, separate account. That means no matter what, your money is there for you when you want to withdraw it, rather than relying on the protection of the Financial Services Compensation Scheme.
Exceptional service on Arro Business Accounts
Our commitment to the best level of service starts from the moment you apply, with our straightforward online application process and guaranteed approval (subject to basic essential identity checks).
We don’t lend in the form of credit cards or overdrafts, so we can say upfront that we will not check your credit rating, will not leave a mark on your credit file, and will never reject an applicant based on their credit history.
As soon as your application is approved, we will send out not only your account sort code and number so that you can start moving funds in, but also your virtual Business MasterCard® details so you can make cardholder-not-present purchases until the physical card arrives in the post.
What if I need help?
We’re here for Arro Personal Account and Arro Business Account customers alike. It’s worth checking our FAQs page first, just to make sure there isn’t already an easy answer to your query.
If you still want to contact us directly, our Contact page has the details you’ll need – just choose the option as a Business Account customer so that we can give you more specific advice.
You can either fill in the contact form so that we have the details we need to investigate and get back to you with a prompt and personal response, or give us a call to speak to our UK customer service team 24 hours a day, seven days a week.
We’re here for whatever you need, whether your query relates to:
- Opening a no credit check Business Account with Arro.
- Using the bespoke Arro online account management platform.
- Any general problems accessing parts of the website.
- Making and receiving payments.
- Using your virtual or physical Business MasterCard®.
Why is Arro not a bank?
Arro was created as a 21st century online-first electronic money service, regulated by the Financial Conduct Authority and open to applications from anyone aged 18 or over with a UK address, personal or business.
We are proud to operate differently from the banks, with no lengthy waits for appointments or in-branch queues, and in most cases you can set up a new account in 3-5 minutes without even speaking to a human.
Arro Personal and Business Accounts do not have overdrafts and the MasterCard® you receive is a debit card, not a credit card – we do not need to carry out credit checks on new customers, and we will not push borrowing and debt on existing customers. We just ask you to manage your own money properly so that you do not make payments if there are insufficient funds in your account.
We do not hide our fees. You can check the costs of different types of business transaction online at any time and your account updates in real-time on our bespoke money management platform, so you’re never in the dark about how much cash you have available.
An alternative to business banking
In every respect, we have started from scratch to design a service that offers the ability to manage your money in the same ways as a traditional business banking service, but without being held back by the limitations of high street banking.
We developed the Arro Business Account based on firsthand experience of applying for a UK business bank account, and how long and complicated that process can be – and we are proud to welcome customers who may have been rejected elsewhere for any reason.
*Functionality coming soon