A company is not legally required to have a bank account.
The Companies Acts 2006, the primary source of UK Company Law, makes no mention of Bank Accounts. However, there are a number of compelling reasons for a company to have its own bank account.See why your company needs a bank account
There is no such thing as a guaranteed bank account.
All banks are required to comply with anti-money laundering requirements. If you can’t produce adequate ID to verify your identity, your application will be refused. So be wary of any company advertising guaranteed bank accounts.
Even with a bad credit history a UK resident company owner will be able to open a business bank account.
High street banks are reluctant to offer accounts to company owners with a bad credit history. However, there are various “online only” banks that ignore credit histories. For these, the only criteria for opening an account are that the applicant has legal capacity and adequate ID.
Non-UK resident company owners can open business bank accounts.
Many UK banks are unwilling to offer bank accounts to UK companies belonging to non-residents. However, there are exceptions and solutions which will allow you to open an account for your company.
There is no such thing as free business banking.
Some High Street banks offer 1 year or 2 years free banking as sweeteners to get your business. However, those offers are subject to your compliance with their terms and conditions. Mistakes can cost dearly and you should familiarise yourself with their terms before opening an account.