What is the PSC Register and why does Hollis need it?

The PSC (People with Significant Control) Register is a UK statutory register identifying individuals who own or control 25%+ of a company. Hollis requires it as part of standard beneficial-ownership verification required of all US banking partners.

Does a UK Ltd need a US entity or EIN to open a Hollis account?

No. UK Ltds can open a Hollis USD account directly with UK incorporation documents — no US subsidiary formation or EIN application is required.

How quickly can a UK company get approved?

Same business day to next business day for applications with complete PSC, incorporation, and UBO documentation.

What's the difference between a domestic wire and a SWIFT wire for a UK company?

Fedwire ($20) is used for domestic US-to-US transfers once funds are in the account; SWIFT ($30) is the international rail used to move money between the UK and the US. Incoming wires on either rail are free.

Can a UK e-commerce or SaaS company use this account to collect USD revenue from US customers?

Yes — this is one of the most common use cases Hollis serves for UK Ltds: collecting USD-denominated customer revenue without absorbing FX conversion costs on every transaction, since the account holds USD natively.

Hollis & Co

All jurisdictions

🇬🇧

USD Business Banking for UK Limited Companies

Open a US business bank account for your UK Ltd — fast review, no US entity required, built for post-Brexit cross-border operations.

Why this matters

UK companies selling into the US, billing US customers, or holding US-facing subsidiaries run into the same problem repeatedly: opening USD banking as a foreign entity through a traditional bank is slow, and post-Brexit correspondent banking friction has only made it worse. Hollis & Co, through its Column N.A. partnership, gives UK Ltds a same-to-next-business-day path to a working USD account — with Fedwire, SWIFT, and ACH support — so a UK company can start collecting and paying in USD without first forming (or waiting on) a US entity. This is the most common jurisdiction Hollis serves outside the US, and the requirements below reflect a well-worn, fast-moving process.

Entity Types

Private Limited Company (Ltd)

Review Time

Same day – next day

Requirements, fees & timeline

Required Documents

·Certificate / Articles of Incorporation
·Tax Identification
·Ownership & Control
·Directors / Control Persons
·Passport (valid)
·Proof of address

Fees

Setup fee

$500

Annual fee

$400

Domestic wire

$20

SWIFT wire

$30

FX spread

+0.75%

Incoming wires

Free

Annual maintenance fee waived if your account maintains an average daily balance of $250,000 or greater across the 365 days prior to your renewal date.

Frequently asked questions

Hollis & Co., Inc. (“Hollis & Co”) is a financial technology company, not a bank. USD deposit accounts and banking services are provided by Column N.A., Member FDIC. Deposits are eligible for FDIC insurance up to $250,000 per depositor, per ownership category, through Column N.A. Use of the Hollis & Co. platform is subject to eligibility requirements and terms of service.