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Promoted
Virgin Money M Account for Business
  • Free day-to-day online business banking*
  • Designed for businesses with a turnover of less than £1million
  • Earn 0.25% Cashback on debit card purchases. Terms and exclusions apply
*excluding CHAPS and international payments

18 Products Compared

Virgin Money Business Current Account
  • Monthly Fee:
    £6.50
  • Monthly Fee Offer:
    25 months free
  • Bank Transfers:
    Free
  • Overdraft:
    Yes
Great For:

  • 0.35% cashback (capped at £500 per debit card per year)
  • Mastercard discounts available at selected merchants
To Consider:

  • For businesses with less than £6.5m annual turnover
  • Virgin Money offers 24/7 self-service but not 24/7 customer support
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Features:

  • Debit Card Cashback – automatically earn up to £500 per calendar year when using your Debit Card for purchases. Some exclusions apply
  • If you’re a new business or just new to Virgin Money, you could qualify for 25 months free day-to-day banking when you open or switch to this business current account
  • Digital Money Management Tools – helping you manage cash flow, budgets and invoices
Criteria:

  • Available for eligible businesses with up to £6.5m annual turnover
  • Must be based and operated in the UK (excluding Channel Islands, Isle of Man and Northern Ireland)
  • All owners, directors, senior managers and account signatories must be over 18 years old
  • For limited companies, please allow up to 72 hours from registering your business with Companies House, before starting an application
25 months’ fee free day-to-day banking
No monthly account fee and free UK digital banking*
HSBC UK Small Business Banking Account
  • Monthly Fee:
    £0
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    Free*
  • Overdraft:
    Yes
Great For:

  • No monthly account fee and free UK digital banking*
  • Comprehensive features: A full range of business banking services.
To Consider:

  • *Free UK digital banking means day-to-day standard electronic transfers made through Business Internet Banking and HSBC UK Business Banking app are free. Other charges apply e.g. cheques and CHAPS. See Business Price List for details. Subject to application, eligibility, credit check and T&Cs.
  • **You must be an HSBC Business Banking customer to access free accounting tools through My Business Finance. Once you’ve opened your account, you’ll need to set up Business Internet Banking to get access. This is not available for HSBC Kinetic customers. T&Cs apply. Find out more here.
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Features:

  • No monthly account fee and free UK digital banking*
  • Free accounting tools to stay on top of invoices, cashflow and tax.**
  • A full list of prices and charges applicable can be found in HSBC UK’s Business Price List at business.hsbc.uk/legal
Criteria:

  • Sole traders, limited companies, partnerships, limited liability partnerships and non-charitable clubs/associations/societies can all apply
  • Must be a tax resident in the UK but not the Channel Islands or the Isle of Man
  • Available to Small Business Banking customers who are typically small enterprises with borrowing needs of up to £100k and whose everyday banking needs don’t need the support of a Relationship Manager. Please note, government lending schemes are subject to different limits.
  • Borrowing is subject to application, eligibility, affordability and credit check. T&Cs, fees, charges and rates apply. For loans, you don’t need to open or maintain an HSBC Business Current Account unless a debenture or fixed charge over book and other debts is required.
*Free UK digital banking means day-to-day standard electronic transfers made through Business Internet Banking and HSBC UK Business Banking app are free. Other charges apply e.g. cheques and CHAPS. See Business Price List for details. Subject to application, eligibility, credit check and T&Cs.
Get your first month of Pro or Team completely free*
Monzo Business Team
  • Monthly Fee:
    £25
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    Free
  • Overdraft:
    Yes
Great For:

  • For larger small businesses that need to manage their team’s spending and payments
  • Empower your staff by providing them with their own debit cards and spending limits
To Consider:

  • Online account management only, no phone or branch access.
  • Not currently available for charities or partnerships.
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Features:

  • Expense Cards
  • Bulk Payments
  • Access for up to 15 team members
  • Set payment approval limits
  • Plus everything included in our Pro and Lite accounts
Criteria:

  • First 6 team members are included with Team Account, then it’s an extra £5/month per team member.
  • Only sole traders or limited company directors in the UK can apply.
  • Monzo Business Team starts from £25/month. Ts&Cs apply.
Monzo Business Team customers get the cloud accounting platform for 8 months free, up to £472 value. *Your first month of Pro or Team is free, after that Pro is £9/month and Team starts from £25/month. Only sole traders or limited company directors in the UK can apply. Ts&Cs apply.
Get your first month of Pro or Team completely free*
Monzo Business Pro
  • Monthly Fee:
    £9
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    Free
  • Overdraft:
    Yes
Great For:

  • Growing businesses needing advanced features like invoicing and accounting integrations
  • Automatically set aside money for tax bills with dedicated, easy-to-manage Tax Pots
To Consider:

  • Online account management only, no phone or branch access.
  • Not currently available for charities or partnerships.
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Features:

  • Automatically put money aside for tax
  • Connect accounting tools
  • Auto-export transactions, invoices and statements
  • Virtual cards, access for 3 team members, invoicing and more
  • Plus everything included in our Lite Account
Criteria:

  • Only sole traders or limited company directors in the UK can apply.
  • Monzo Business Pro is £9/month. Ts&Cs apply.
Monzo Business Pro customers get the cloud accounting platform for 6 months free, up to £354 value. *Your first month of Pro or Team is free, after that Pro is £9/month and Team starts from £25/month. Only sole traders or limited company directors in the UK can apply. Ts&Cs apply.
Revolut Scale Business Account
  • Monthly Fee:
    From £90 p/month
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    1,000 free per month
  • Overdraft:
    No
Great For:

  • 1,000 free bank transfers – £0.20 fee applies thereafter
  • 25 free international transfers – £5 fee applies thereafter
To Consider:

  • No cash or cheque facilities
  • An e-money product with no branch access
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Features:

  • Multi-currency accounts – receive payments and exchange in 25+ currencies
  • Control and monitor team spending with multiple debit and virtual cards, manage permissions and levels of access and more
  • Various payment facilities including Tap to Pay on iPhone (fees apply)
  • Earn annual interest daily with a linked business savings account
  • 2 complimentary metal cards
Criteria:

  • Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
  • Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
Revolut is not a fully licensed bank in the UK. Your money is held in a safeguarded account with a regulated bank or high quality liquid assets. Your savings are deposited with partner banks and eligible deposits are protected up to £85k per bank.
Revolut Enterprise Business Account
  • Monthly Fee:
    Contact Revolut
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    Contact Revolut
  • Overdraft:
    No
Great For:

  • Customized for your business needs
  • Full account management and 24/7 support
To Consider:

  • No cash or cheque facilities
  • An e-money product with no branch access
current account switch guarantee logo
Features:

  • Multi-currency accounts – receive payments and exchange in 25+ currencies
  • Control and monitor team spending with multiple debit and virtual cards, manage permissions and levels of access and more
  • Various payment facilities including Tap to Pay on iPhone (fees apply)
  • Earn annual interest daily with a linked business savings account
  • Tailored for larger businesses
Criteria:

  • Available for limited companies, PLCs, LLPs, Partnerships & unlimited companies
  • Currently available for companies registered in and with a physical presence within the European Economic Area (EEA), Switzerland, UK and US
Revolut is not a fully licensed bank in the UK. Your money is held in a safeguarded account with a regulated bank or high quality liquid assets. Your savings are deposited with partner banks and eligible deposits are protected up to £85k per bank.
Earn 10% cashback on your first $1,000 USD of international transactions with Airwallex*
Airwallex Explore Business Account
  • Monthly Fee:
    Free*
  • Monthly Fee Offer:
    Ongoing
  • Bank Transfers:
    Free
  • Overdraft:
    No
Great For:

  • Open local currency accounts in 60+ countries
  • Make international transfers to 150+ countries at interbank rates
To Consider:

  • Deposit £10,000 p/month or hold £10,000 to be free, if not £19 p/month
  • An e-money product with no branch access
Features:

  • Open multiple accounts per entity. Collect and hold in 20+ currencies
  • Expense management for cards and reimbursements
  • Free local transfers to 120+ countries and domestic transfers. Access to interbank FX rates and batch transfers
  • Multi-currency and employee cards with zero international fees
  • Includes 5 free employee card users and up to 10 company cards
  • Online card and local payment method acceptance globally
  • Bank feeds sync with Xero. ApprovalMax, WorkflowMax by BlueRock Integrations
Criteria:

  • You must be at least 18 years old
  • Be a sole trader, partner in a partnership, or company
  • Your business is registered in the UK. More markets are available with different Airwallex entities. Details can be found on the Airwallex website.
*10% cashback on your first $1,000 USD equivalent in eligible international card spend.

Get Your First 12 Months Free*
Barclays Business Bank Account (up to £400k turnover)
  • Monthly Fee:
    £8.50
  • Monthly Fee Offer:
    12 months free
  • Bank Transfers:
    Free
  • Overdraft:
    Yes
Great For:

  • Free digital banking and no monthly account fee for the first 12 months*
  • Access to discounted services via key partners, worth over £5,000**
To Consider:

  • After 12 months, the monthly account fee is £8.50 per month*
  • **T&Cs apply to each partner service, see partner website for details.
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Features:

  • No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5,000**
  • A UK-based team of business managers to help you manage and grow your business
  • Simple and secure online banking with group payments and cash collection booking tools
Criteria:

  • Businesses with existing Barclays business current accounts aren’t eligible for this offer. After 12 months, you’ll pay £8.50 per month. Fees and charges will apply in line with the business account tariff which may be subject to change.
  • Your turnover must be between £1,000 and £400,000 per year
  • Must be over 18, a UK resident and a sole trader or the director of a limited company
  • Overdrafts are subject to application, financial circumstances and borrowing history.
*Businesses with existing Barclays business current accounts aren’t eligible for this offer. After 12 months, you’ll pay £8.50 per month. Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details
Get Your First 12 Months Free*
Barclays Business Bank Account (£400k-£6.5m turnover)
  • Monthly Fee:
    £8.50
  • Monthly Fee Offer:
    12 months free
  • Bank Transfers:
    Free
  • Overdraft:
    Yes
Great For:

  • Free digital banking and no monthly account fee for the first 12 months*
  • Access to discounted services via key partners, worth over £5,000**
To Consider:

  • After 12 months, the monthly account fee is £8.50 per month*
  • **T&Cs apply to each partner service, see partner website for details.
fscs protected logocurrent account switch guarantee logo
Features:

  • No monthly account fee* plus access to discounted services via key partners to help you set up and run your business effectively, worth over £5,000**
  • A UK-based team of business managers to help you manage and grow your business
  • Simple and secure online banking with group payments and cash collection booking tools
Criteria:

  • Businesses with existing Barclays business current accounts aren’t eligible for this offer. After 12 months, you’ll pay £8.50 per month. Fees and charges will apply in line with the business account tariff which may be subject to change.
  • Your turnover must be between £400,000 and £6.5 million per year
  • Must be over 18, a UK resident and a sole trader or the director of a limited company
  • Overdrafts are subject to application, financial circumstances and borrowing history.
*Businesses with existing Barclays business current accounts aren’t eligible for this offer. After 12 months, you’ll pay £8.50 per month. Fees and charges will apply in line with the business account tariff which may be subject to change. **Terms and conditions apply per partner, see partner website for details
12 months fee free and interest earned on every penny – up to 3.50% AER variable*
Cynergy Bank Business Current Account
  • Monthly Fee:
    Free
  • Monthly Fee Offer:
    Ongoing
  • Bank Transfers:
    Free
  • Overdraft:
    No
Great For:

  • International payments in 7 major currencies, including EUR and USD
  • Online application for businesses with up to 10 directors
To Consider:

  • £5 per month after the 12 month free period
  • Fees apply for cash, CHAPS, SWIFT and SEPA transactions
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Features:

  • 3.50% on balances up to £10k and 0.10% for balances above £10k
  • Make international payments in up to seven major currencies, with option to open EUR or USD accounts.
  • Customise workflows for account management and transaction approvals requiring more than one account user to sign-off.
  • Bulk payment processing.
  • Online application for businesses with up to 10 directors.
Criteria:

  • Must be a sole trader, partnership, limited liability partnership (LLP) or limited company (LTD)
  • Must be registered and eligible to pay tax in the UK
  • Have a maximum of 10 directors
*The £5 monthly fee is waived for 12 months for new Business Current Account openings. The offer is available for a limited time only. Cynergy Bank reserves the right to withdraw the offer at any time. T&Cs apply.
Get up to 4.33% AER* (variable) on savings & up to 1.5% cashback. T&Cs apply.
Allica Bank Business Current Account
  • Monthly Fee:
    Free
  • Monthly Fee Offer:
    Ongoing
  • Bank Transfers:
    Free
  • Overdraft:
    No
Great For:

  • Access to competitive savings interest rates
  • Earn up to 1.5% cashback on eligible card spending
To Consider:

  • Businesses must be trading for at least 6 months
  • Must have a min balance of £50k or have an Allica loan product
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Features:

  • Up to 4.33% AER (variable) on integrated Instant Access Savings Pot.
  • Up to 1.5% cashback on eligible card spend. View Business Rewards Account Terms and Conditions on Allica bank website
  • UK based dedicated relationship manager
  • Eligible customers are covered by FSCS up to £85,000
  • Direct accounting integrations with Sage and Xero
Criteria:

  • Businesses must be incorporated for at least 12 months
  • Businesses keeping less than £50,000 in their account will earn a reduced rate of interest and may incur fees.
*Rate includes standard rate of 3.33% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Eligibility criteria and T&Cs apply.
Equals Money Business Current Account
  • Monthly Fee:
    £25*
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    Free
  • Overdraft:
    No
Great For:

  • SMEs, freelancers, and eCommerce businesses with international suppliers or clients
  • No credit checks so easier for those with limited financial history

To Consider:

  • £25 monthly fee which may be high for micro-businesses or start-ups
  • An e-money account with no branch access
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Features:

  • Use up to 20 physical cards
  • Unlimited users, no monthly fees
  • £10 per physical card – one-off fee but free virtual cards
  • Free to use in 20 major currencies
Criteria:

  • Available to Limited Companies, Sole Traders and Partnerships
  • You must be 18+ and a UK resident.
Equals Money Multi-Currency Accounts
  • Monthly Fee:
    £25*
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    Free
  • Overdraft:
    No
Great For:

  • Hold, send, and receive multiple currencies (GBP, EUR, USD, etc.) in one account without needing separate bank accounts
  • Offers better exchange rates and lower fees on currency conversion compared to traditional banks
To Consider:

  • If your business only operates in GBP domestically, multi-currency features may unnecessarily add cost
  • An e-money account with no branch access
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Features:

  • Dedicated account management and compliance resource will support you through onboarding
  • 38 different currencies
  • Multi currency IBAN
  • Faster settlements
Criteria:

  • Available to Limited Companies, Sole Traders and Partnerships
  • You must be 18+ and a UK resident.
Wide Range of Expense Managements Tools
Anna Money Big Business Account
  • Monthly Fee:
    £49.90
  • Monthly Fee Offer:
    None
  • Bank Transfers:
    From free
  • Overdraft:
    No
Great For:

  • Unlimited free domestic transfers and ATM withdrawals
  • Pay cash into your account commission free
To Consider:

  • No joint account access
  • An e-money product with no branch access
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Features:

  • Unlimited free debit cards – 1% cashback on selected categories
  • Personal payment link for accepting payments online with no fees
  • Instant invoice generator and savings pots facility
  • Landlords / property investors get a free 12 month subscription to the National Residential Landlords Association (NRLA)
  • FastTrack to Credit – Boost your credit score and get access to credit after 3 months activity
Criteria:

  • Must be a Sole Trader, Director of a Limited Company (and listed on Companies House), or a Partner in a Limited Liability Partnership
  • Business must be located within the UK and you also need to have a UK residential address
  • Not available to charities
ANNA Business comes with invoice generator tools, HMRC recognised Tax calculator and filing. Automate your bookkeeping with ANNA.
The Co-operative Business Bank Account
  • Monthly Fee:
    Free
  • Monthly Fee Offer:
    Ongoing
  • Bank Transfers:
    Free
  • Overdraft:
    Yes
Great For:

  • Ideal for start ups and growing businesses who bank digitally
  • No charges for all automated credits, cash withdrawals and debit card purchases
To Consider:

  • Charges apply for cash and cheque transactions
  • An overdraft arrangement fee applies and where security is required, additional security fees may apply
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Features:

  • Free everyday digital business banking. No monthly fee. No charges for all automated credits, cash withdrawals and debit card purchases
  • Integrate your accountancy software like Xero, Sage or Quickbooks within your online banking
  • Online and in-person banking including mobile, instant secure messaging, UK based contact centre, and in branch. Rated ‘Excellent’ based on over 12,000 reviews on Trustpilot
  • Most receive their account details within three days
  • Co-operative Bank business customers get free, unlimited access to the Go Get Paid app – the fast, simple, secure way to get paid. Plus access selected Clover payment terminals for £1 a month for the first 12 months (fees apply)
  • The original ethical bank with a customer-led Ethical Policy
Criteria:

  • Must be a UK resident with a business address in the UK
  • Must be 18 or over
  • You or your organisation must be one of the following: “a Sole Trader, Partnership, Limited Liability Partnership or Limited Company
Charges apply for cash and cheque transactions and other special services e.g. foreign and CHAPS payments. You can deposit cash in branch and in the Post Office for £1.50 per cheque or £1.50 per £100 of cash deposited. An overdraft arrangement fee applies and where security is required, additional security fees may apply. Application subject to status (including credit checks and an assessment of your financial circumstances), eligibility and T&Cs. Mobile banking is subject to eligibility.

How to Compare Business Bank Accounts

1

Understand Your Requirements

How you do business will affect the type of account you need. How many transactions will you have each month? Do you need to pay in cash? Do you need a local branch?

2

Check Eligibility

Most providers have a range of business accounts to suit different types of businesses. Check the eligibility of each account to make sure if suited to your business.

3

Compare The Latest Deals

There are numerous offers and deals to attract new customers which can be compared with our handy tool above. Always consider the cost of the account once the free period ends.

Understanding Corporate Business Bank Accounts

A corporate bank account is a sophisticated financial product designed for larger, more complex businesses, public limited companies (PLCs), and substantial organisations. While a small business or sole trader account provides essential transaction services, a corporate account offers a comprehensive suite of advanced solutions tailored to the intricate needs of a large-scale enterprise. These accounts can encompass treasury management, international trade finance, and dedicated advisory services.

The relationship between a corporation and its bank is typically managed by a dedicated relationship manager. This individual acts as a point of contact, providing expert advice and co-ordinating access to the bank’s specialist services. This partnership model is a key differentiator from standard business banking and is designed to support a company’s strategic financial objectives, from managing complex cash flow across multiple currencies to financing major capital investments.

Key Services and Features

Corporate banking is distinguished by its specialised and scalable services built to handle high-volume, high-value transactions and complex financial structures.

Dedicated Relationship Management

The relationship manager develops a deep understanding of the client’s business, its industry, and its strategic goals. They provide proactive advice, help structure complex financing deals, and connect the business with experts in areas like foreign exchange, trade finance, and asset management.

Treasury and Cash Management

For a large business, managing liquidity efficiently is paramount. Corporate accounts provide advanced cash management solutions, which can include:

  • Liquidity Management: Services like cash pooling and sweeping automatically concentrate funds from various accounts into a central master account to optimise interest and reduce borrowing costs.
  • Payment and Collection Systems: These facilitate high-volume BACS, CHAPS, and international payments, often through sophisticated online platforms or direct system-to-system integration (via APIs).

International Trade and Finance

Corporations operating globally require specialised support. This includes:

  • Trade Finance: Products like letters of credit, bonds, and guarantees that mitigate the risks associated with international trade.
  • Foreign Exchange (FX) Services: Advanced FX hedging strategies and products to manage currency risk, alongside competitive rates for large transactions.

Corporate Lending and Finance

Corporate accounts provide access to a much broader and more structured range of credit facilities than standard business loans. This can include asset finance, acquisition finance, and access to capital markets for issuing bonds or equity.

Who Needs a Corporate Bank Account?

There isn’t a single, fixed threshold, but a business will typically transition from a business banking to a corporate banking service when its needs become sufficiently complex. This is often based on annual turnover, with many UK banks setting the entry point for corporate banking between £2 million and £25 million in turnover, depending on the institution. Other factors include the number of employees, the complexity of the ownership structure, and whether the business operates internationally.

Corporate Business Bank Account FAQs

1. What is the main difference between a business account and a corporate account?

The main difference lies in the scale and complexity of the services offered. A corporate account provides the same services and a business account, plus a suite of solutions for managing more complex large-scale financial needs.

2. At what turnover level should a company consider a corporate account?

This varies between banks, but a common range for moving to a corporate banking relationship is when annual turnover consistently exceeds around £2 – £5 million. However, a business with a lower turnover but complex international trading needs might also qualify for and benefit from corporate services.

3. What exactly does a relationship manager do?

A relationship manager is a senior banker who acts as point of contact with the bank. Their role is to understand your business strategy and proactively provide and co-ordinate financial solutions to help you achieve it. They are your long-term strategic partner within the bank.

4. Are the fees for corporate accounts higher than for business accounts?

Yes. Corporate accounts come with a more complex fee structure that reflects the higher level of service, bespoke solutions, and dedicated management provided. Fees are often tailored to the specific client and the services they use, rather than being a standard tariff.

5. Can you get a corporate account from a digital-only bank?

Currently, the full suite of corporate banking services, especially those requiring bespoke advice and relationship management like trade finance and complex lending, is primarily the domain of large, established banks with dedicated corporate divisions. While digital banks excel at providing efficient services for SMEs, they do not generally offer the in-depth, relationship-led model that defines corporate banking.