Hi Sarah,

In most cases, yes. Consulting businesses generally have a smoother banking experience than trading companies because the nature of their operations is easier for business bank account to understand and verify.

A consulting firm typically earns revenue through professional services, so banks mainly want to understand what services you provide, who your clients are, and whether your experience matches your licensed activity. This usually makes the compliance review more straightforward.

Trading companies, on the other hand, often deal with international suppliers, shipments, multiple currencies, and higher transaction volumes. As a result, banks may ask for additional information such as supplier agreements, expected import or export volumes, shipping documents, or projected transaction values before approving the account.

For a consulting business, banks are more likely to focus on questions such as:

• Does your professional background support the consulting activity?
• Can you explain the services you'll be offering?
• Do you have sample client contracts or proposals?
• Is the expected account activity consistent with your business model?

That doesn't mean consulting companies are automatically approved. Every application still goes through KYC and AML checks, and you'll need to provide a clear source of funds along with the required corporate documents.

If you're starting a consultancy, my advice is to prepare a concise business profile that explains your expertise, target clients, and expected revenue model. A clear and credible business story often makes the compliance process much smoother than it is for businesses involved in international trading.