Is the Arro Personal Account an instant online bank account?
Because of the way Arro are regulated, your Arro Personal Account is not technically a bank account, but it provides you with many of the same features, including:
- A sort code and account number for money transfers into the account.
- An online dashboard with access to Direct Debit and Faster Payments.
- A MasterCard® debit card you can use at cash machines (ATMs), in shops and online.
The account and MasterCard® debit card are issued in your name – there’s no need to have a separate UK-resident referee or guarantor on the account – and you can keep them for as long as you live in the UK, even if you change your address here.
What can I do with my Arro Personal Account?
For most everyday personal banking activities you can think of, the Arro Personal Account is an instant online alternative.
You can use your Arro Personal Account to:
- Receive money from friends, family, customers and your own other accounts.
- Set up Direct Debits to regular suppliers.
- Make Faster Payments to pay one-time bills and purchases.
- Withdraw cash from ATM cash machines using your Arro cash card plus MasterCard®.
- Make purchases online and in-store using your MasterCard® debit card.
- Manage your finances whenever you choose on the Arro online account dashboard.
How fast can I open an Arro Personal Account?
The application process is as quick and easy as possible, so even if you are not a fluent English speaker, it should only take a few minutes to complete the signup form.
As long as you are over 18, currently live at a UK address (even temporarily) and meet our Fair Fit criteria, we guarantee to accept all eligible account applications.
In very rare circumstances we might need an extra form of ID, such as a copy of your driving licence or passport, but in most cases we can verify your identity down to street-level online.
Once your ID has passed our quick online checks, you will receive your current account number and virtual MasterCard® debit card number immediately.
An instant virtual MasterCard® debit card
We send your MasterCard® number, expiry date and CVV security number to your mobile phone in an SMS text message as soon as the card is issued.
The physical card will follow in the post within the next few days, but this means until the card arrives, you can already use the details online to make purchases and payments using the funds in your Arro Personal Account.
Again, we know that sometimes it is important for entrepreneurs to have a fully functional current account as quickly as possible, so that you do not miss out on a business opportunity, and the Arro Personal Account application process has been designed to give you instant access to the electronic money services you need.
About the Arro Business Account
If you want a separate account for your business activities – or if you grow out of acting as a sole trader and want to scale up your finances to match – consider applying for an Arro Business Account.
Again, we offer the same rules on guaranteed approval and eligibility. We ask for a company name during signup, but we can give Arro Business Accounts to sole traders too, if you do not have a registered UK company name.
Your Arro Business Account will have its own account number, allowing you to make transfers to and from your Arro Personal Account, and you will receive a separate Business MasterCard® debit card in your own name, for a more professional appearance when making card payments.