knowyourbusiness.co.uk rated…

One month free trial. T&Cs apply.

Airwallex Explore Business Account

Monthly Fee:
Free*
Bank Transfers:
Free
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

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

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.

SEE DEAL

One month free trial. T&Cs apply.

Airwallex Grow Business Account

Monthly Fee:
£49*
Bank Transfers:
Free
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

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

To Consider:

If operating in the UK you won’t need a multi-currency account
An e-money product with no branch access

Great For:

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

To Consider:

If operating in the UK you won’t need a multi-currency account
An e-money product with no branch access

Features:

5 free active spend users per month and up to 50 free company cards
Track cards and reimbursements with Expense Management
Manage domestic and international bills with Bill Pay
Automated receipt and bill data extraction and customisable, multi-layer spend approvals
Xero expenses and bills integration

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.

SEE DEAL

One month free trial. T&Cs apply.

Airwallex Accelerate Business Account

Monthly Fee:
£999
Bank Transfers:
Free
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

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

To Consider:

If operating in the UK you won’t need a multi-currency account
An e-money product with no branch access

Great For:

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

To Consider:

If operating in the UK you won’t need a multi-currency account
An e-money product with no branch access

Features:

Consolidated Finances across global entities
Single sign-on (coming soon)
Netsuite integration including expenses and bills sync
HRIS platform integrations (coming soon)
Dedicated account manager and onboarding support

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.

SEE DEAL

One month free trial. T&Cs apply.

Airwallex Custom Business Account

Monthly Fee:
Custom
Bank Transfers:
Free
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

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

To Consider:

If operating in the UK you won’t need a multi-currency account
An e-money product with no branch access

Great For:

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

To Consider:

If operating in the UK you won’t need a multi-currency account
An e-money product with no branch access

Features:

High-volume businesses
Custom API implementations
Embedded finance integrations to launch your own financial products
Dedicated account management support

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.

SEE DEAL

Get £100 cashback when you open a Tide business bank account*

Tide Business Bank Account

Monthly Fee:
Free
Bank Transfers:
Free for one year*
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

Apply online in minutes with no credit checks or paperwork needed
This account comes with no monthly maintenance fees

To Consider:

20p per bank transfer after the first year
Tide is a digital-only service. There are no physical branches for in-person banking or face-to-face support

Great For:

Apply online in minutes with no credit checks or paperwork needed
This account comes with no monthly maintenance fees

To Consider:

20p per bank transfer after the first year
Tide is a digital-only service. There are no physical branches for in-person banking or face-to-face support

Features:

Create and send invoices for free
Multi-business – hold up to 5 business accounts
Automated 30-day cash flow forecasts

Criteria:

For registered business account: you must be registered with UK Companies House as a director of that company or partnership
For sole trader account: you must be a UK based sole trader/freelancer
For all accounts: you must be aged 18+, have a valid UK phone number and address, and hold compatible device registered to a UK App or Google Play store

SEE DEAL

*If you complete the application and spend £1000 within 60 days of opening an account we’ll give you £100 cashback. Enter code BCA100 when you sign up. T&C apply. FSCS-Protected, Bank Account by ClearBank.

Business expense and corporate financial management account

Wallester Business Expense Account

Monthly Fee:
Free
Bank Transfers:
No
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

Streamlining company spending with virtual and physical cards, automation, and a real-time dashboard for complete expense control
Open accounts and issue cards quickly without visiting a bank

To Consider:

Wallester is not a business bank account, you don’t get traditional banking features like transfers, overdrafts or loans.
Wallester is a business expense and corporate financial management account

Great For:

Streamlining company spending with virtual and physical cards, automation, and a real-time dashboard for complete expense control
Open accounts and issue cards quickly without visiting a bank

To Consider:

Wallester is not a business bank account, you don’t get traditional banking features like transfers, overdrafts or loans.
Wallester is a business expense and corporate financial management account

Features:

Free package with 300 free virtual cards and an unlimited number of free physical cards
Free multifunctional dashboard for tracking and managing expenses
No top-up fee (in EUR), no transaction fees, no usage fee, no issuance fee, and no fee for adding extra users
Ten currencies, including GBP, EUR, USD and other European currencies (SEK, NOK, CZK, HUF, RON, PLN, DKK)
App included and API for integrations with any CRM accounting software

Criteria:

You must be at least 18 years old
Be a sole trader, partner in a partnership, or company
Must have an eligible business bank account

SEE DEAL

Free package of 300 virtual cards with zero fees or limitations

Get up to £200 when you open a business bank account and a savings account*

The Co-operative Bank Business Bank Account

Monthly Fee:
Free
Bank Transfers:
Free
Overdraft:
Yes
Account Access:
App, Online & Branch
GO TO SITE

GO TO SITE

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
Overdrafts are subject to status, application and The Co-operative Bank’s lending policy. Interest will be charged, and security fees may apply.

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
Overdrafts are subject to status, application and The Co-operative Bank’s lending policy. Interest will be charged, and security fees may apply.

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 15,000 reviews on Trustpilot
Most receive their account details within five 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)
Join the original ethical bank with a customer-led Ethical Policy, which gives customers a say in how their money is used

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
Available up to 10 key individuals

SEE DEAL

*Offer applies to new Co-operative Bank customers. Min. balance and transactional criteria applies for the first 3 months. Subject to status, eligibility and T&Cs apply. You can deposit cash in branch and in the Post Office for £1.50 per cheque or £1.50 per £100 of cash deposited. Overdrafts are subject to status, application and The Co-operative Bank’s lending policy. Interest will be charged, and 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.

Get £200 for opening a new business account and savings account*

The Co-operative Bank Business Bank Account Plus

Monthly Fee:
£10
Bank Transfers:
Free
Overdraft:
Yes
Account Access:
App, Online & Branch
GO TO SITE

GO TO SITE

Great For:

Established and growing businesses looking for features like insurance benefits and exclusive access to savings rates
No charges for all automated credits, cash withdrawals and debit card purchases

To Consider:

Charges apply for cash and cheque transactions

Great For:

Established and growing businesses looking for features like insurance benefits and exclusive access to savings rates
No charges for all automated credits, cash withdrawals and debit card purchases

To Consider:

Charges apply for cash and cheque transactions

Features:

A Business Plus Instant Access savings account will be opened alongside the bank account benefitting from an exclusive interest rate
You can apply for an optional overdraft with no arrangement fee on amounts up to £25,000. Arrangement fees only apply to the amount above £25,000. Subject to status and eligibility.
Get access to our business toolbox. Plus, get a Love2Shop voucher worth up to £70 when you purchase an eligible business insurance policy with our insurance partner (T&Cs apply)
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 15,000 reviews on Trustpilot
Most receive their account details within five days
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
Available up to 10 key account parties

SEE DEAL

*Offer applies to new Co-operative Bank customers. Min. balance and transactional criteria applies for the first 3 months. Subject to status eligibility and T&Cs apply. 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 £0.75 per cheque or £0.75 per £100 cash deposited. Optional arranged overdraft of up to £25,000 with no arrangement fee. Overdraft applications are subject to status and The Co-operative Bank’s lending policy. Interest will be charged and security fees may apply. If over £25,000 is requested, arrangement fees will only apply to the amount above £25,000 (subject to status and eligibility). Application subject to status (including credit checks and an assessment of your financial circumstances), eligibility and T&Cs. Mobile banking is subject to eligibility.

Apply for an overdraft at the Application Stage

Zempler Bank Business Account

Monthly Fee:
Free
Bank Transfers:
3 free per month
Overdraft:
Yes
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

There are no credit checks to open an account
Great bank account for Sole Traders & new Ltd Companies, as no monthly or annual fees on the account

To Consider:

0.55% fee to pay in cash at the Post Office (£4 min fee)
FX transaction fee of 2.99% on non-sterling transactions

Great For:

There are no credit checks to open an account
Great bank account for Sole Traders & new Ltd Companies, as no monthly or annual fees on the account

To Consider:

0.55% fee to pay in cash at the Post Office (£4 min fee)
FX transaction fee of 2.99% on non-sterling transactions

Features:

24/7 app & online servicing and UK based customer service team
FSCS protection – up to £120,000
Deposit cash into any of the UK’s 11,500 Post Offices.
Invoicing tools that allow you to create and send invoices easily

Criteria:

Available to UK registered companies or UK-based sole traders
Application made by UK Director
UK Director 18+ years old

SEE DEAL

$100 sign up bonus*

WorldFirst Global Business Account

Monthly Fee:
Free
Bank Transfers:
Free*
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

Earn ongoing cashback and avoid foreign transaction fees in 15 currencies with the World Card
Receive and spend in 20+ currencies by opening free multi-currency accounts with no monthly fees

To Consider:

No branch access: no cash or cheque deposit services.
No overdraft facilities

Great For:

Earn ongoing cashback and avoid foreign transaction fees in 15 currencies with the World Card
Receive and spend in 20+ currencies by opening free multi-currency accounts with no monthly fees

To Consider:

No branch access: no cash or cheque deposit services.
No overdraft facilities

Features:

A unified platform to simplify cross-border payments, manage money and expand internationally
Pay in 100+ currencies to 210+ destinations
WorldFirst helps sellers to global with access to over 130 online marketplaces and payment gateways

Criteria:

You must be at least 18 years old
Be a sole trader, partner in a partnership, or company

SEE DEAL

Enjoy up to 1.2% cashback on all your monthly card purchases. Sign up for a multi-currency account now to receive an exclusive USD100 bonus. *T&Cs apply.

Free day-to-day online business banking* and access online, via app or in branch

Virgin Money M Account for Business

Monthly Fee:
Free
Bank Transfers:
Free
Overdraft:
Yes
Account Access:
App, Online & Branch
GO TO SITE

GO TO SITE

Great For:

Free online business banking (excluding CHAPS & international)
Link up your business to market leading tools, such as Sage, Xero, Google, Shopify and more

To Consider:

Up to £1million annual turnover

Great For:

Free online business banking (excluding CHAPS & international)
Link up your business to market leading tools, such as Sage, Xero, Google, Shopify and more

To Consider:

Up to £1million annual turnover

Features:

Free day-to-day online business banking (excluding CHAPS and international payments)
Earn 0.25% Cashback on debit card purchases. Terms and exclusions apply
Manage all your business data in one place using Virgin Money’s M-Track insights platform. Link up your business to market leading tools, such as Sage, Xero, Google, Shopify and more, to track them from one simple dashboard

Criteria:

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

SEE DEAL

*excluding CHAPS and international payments

Get £200 Cashback with a Tide business bank account and savings account. Earn up to 4.00%**

Tide Savings Business Bank Account & Savings Account

Monthly Fee:
Free
Bank Transfers:
Free for one year*
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

Apply online in minutes with no credit checks or paperwork needed
This account comes with no monthly maintenance fees

To Consider:

20p per bank transfer after the first year
Tide is a digital-only service. There are no physical branches for in-person banking or face-to-face support

Great For:

Apply online in minutes with no credit checks or paperwork needed
This account comes with no monthly maintenance fees

To Consider:

20p per bank transfer after the first year
Tide is a digital-only service. There are no physical branches for in-person banking or face-to-face support

Features:

Create and send invoices for free
Multi-business – hold up to 5 business accounts
Automated 30-day cash flow forecasts

Criteria:

For registered business account: you must be registered with UK Companies House as a director of that company or partnership
For sole trader account: you must be a UK based sole trader/freelancer
For all accounts: you must be aged 18+, have a valid UK phone number and address, and hold compatible device registered to a UK App or Google Play store

SEE DEAL

**To be eligible for the £200 Cashback offer, open both a Tide Instant Saver and Tide Business Bank Account. Ts&Cs Apply. Up to 4% AER (variable). Interest rates are tiered, with the top rate for balances between £1M and £10M. The top rate includes a 0.26% savings boost. New Tide Members get these rates free for 4 months, after which your Tide plan’s rates apply. For full offer T&Cs visit tide.co/savings. FSCS-Protected Bank Account by ClearBank.

Get your first month of Pro or Team completely free*

Monzo Business Lite

Monthly Fee:
Free
Bank Transfers:
Free
Overdraft:
Yes
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

For sole traders and small businesses wanting a free, simple digital current account
Get instant notifications for all account activity to stay in control of your cash flow

To Consider:

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

Great For:

For sole traders and small businesses wanting a free, simple digital current account
Get instant notifications for all account activity to stay in control of your cash flow

To Consider:

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

Features:

Free, instant UK bank transfers
24/7 customer support
Mobile and web access
The Monzo banking essentials

Criteria:

Only sole traders or limited company directors in the UK can apply.

SEE DEAL

*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
Bank Transfers:
Free
Overdraft:
Yes
Account Access:
App & Online
GO TO SITE

GO TO SITE

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.

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.

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.

SEE DEAL

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.

Get your first month of Pro or Team completely free*

Monzo Business Team

Monthly Fee:
£25
Bank Transfers:
Free
Overdraft:
Yes
Account Access:
App & Online
GO TO SITE

GO TO SITE

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.

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.

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.

SEE DEAL

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.

No monthly account fee and free UK digital banking*

HSBC UK Small Business Banking Account

Monthly Fee:
£0
Bank Transfers:
Free*
Overdraft:
Yes**
Account Access:
App, Online, Branch & Post Office
GO TO SITE

GO TO SITE

Great For:

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

To Consider:

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 terms.

Great For:

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

To Consider:

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 terms.

Features:

No monthly account fee and free UK digital banking*
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
**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.

SEE DEAL

*Free UK digital banking and free bank transfers 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 a £100 business bonus when you open an account and add just £0.01*

Revolut Basic Business Account

Monthly Fee:
£10
Bank Transfers:
10 Free per month
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

Great For:

Multi-currency accounts, physical and virtual cards plus spend management tools
Compatible with accounting software and create invoices in app

To Consider:

Only 5 free local transfers and no free international transfers
An e-money product with no branch access

Great For:

Multi-currency accounts, physical and virtual cards plus spend management tools
Compatible with accounting software and create invoices in app

To Consider:

Only 5 free local transfers and no free international transfers
An e-money product with no branch access

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)
International payments – Send and receive money from 150+ countries

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

SEE DEAL

*Open a Revolut Business account and add money (as little as £0.01) to your account by 31 March 2026 to receive a £100 welcome bonus. Available for new Revolut Business customers in the UK only. Fees, promotion terms and T&Cs apply.

Get a £100 business bonus when you open an account and add just £0.01*

Revolut Scale Business Account

Monthly Fee:
From £90 p/month
Bank Transfers:
1,000 free per month
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

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

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

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

SEE DEAL

Get a £100 business bonus when you open an account and add just £0.01*

Revolut Enterprise Business Account

Monthly Fee:
Contact Revolut
Bank Transfers:
Contact Revolut
Overdraft:
No
Account Access:
App & Online
GO TO SITE

GO TO SITE

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

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

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

SEE DEAL

Wide Range of Expense Managements Tools

Anna Money Pay As You Go

Monthly Fee:
Free
Bank Transfers:
From 20p
Overdraft:
No
Account Access:
App Only
GO TO SITE

GO TO SITE

Great For:

Obtain a UK business account and sort code in 3 mins with ID
One free debit card included (£3 per extra card)

To Consider:

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

Great For:

Obtain a UK business account and sort code in 3 mins with ID
One free debit card included (£3 per extra card)

To Consider:

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

Features:

1 debit card included (£3 per extra card) – 1% cashback on selected categories
Personal payment link for accepting payments online (1% commission)
Instant invoice generator and savings pots facility (fees apply)
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

SEE DEAL

ANNA Business comes with invoice generator tools, HMRC recognised Tax calculator and filing. Automate your bookkeeping with ANNA.

Wide Range of Expense Management Tools

Anna Money Business Account

Monthly Fee:
£14.90
Bank Transfers:
50 Free per month
Overdraft:
No
Account Access:
App Only
GO TO SITE

GO TO SITE

Great For:

Five free debit cards included
50 free bank transfers – 20p fee applies thereafter

To Consider:

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

Great For:

Five free debit cards included
50 free bank transfers – 20p fee applies thereafter

To Consider:

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

Features:

Up to 5 debit cards included (£3 per extra card) – 1% cashback on selected categories
Personal payment link for accepting payments online (£200 per month free, then 1% commission fee)
Instant invoice generator and savings pots facility (fees apply)
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

SEE DEAL

ANNA Business comes with invoice generator tools, HMRC recognised Tax calculator and filing. Automate your bookkeeping with ANNA.

Wide Range of Expense Managements Tools

Anna Money Big Business Account

Monthly Fee:
£49.90
Bank Transfers:
From free
Overdraft:
No
Account Access:
App Only
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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

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

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

SEE DEAL

ANNA Business comes with invoice generator tools, HMRC recognised Tax calculator and filing. Automate your bookkeeping with ANNA.

Types of Business Bank Account Available

How to Compare Business Bank Accounts

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?

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.

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.

Choosing the Right Financial Partner for Your Business

Selecting the right business bank account is a crucial step for any enterprise, whether you’re just starting or are already well-established. It’s more than just a place to keep your money; it’s a tool that can simplify your financial administration, support your cash flow, and grow with your business. With a variety of options available, from traditional high-street banks to digital-first fintech challengers, understanding the key differences will help you make an informed decision that aligns with your company’s specific needs.

Core Considerations for All Businesses

When you start comparing business accounts, it’s easy to get lost in the details. However, by focusing on a few fundamental areas, you can narrow down the options to find the best fit for you.

For a limited company, having a separate business bank account is a legal requirement because the company is a separate legal entity from its owners. For sole traders, while not legally mandated, a dedicated business account is highly recommended as best business practice. It simplifies tracking your income and expenses, makes tax returns more straightforward, and presents a more professional image to your clients.

Understanding Account Fees and Charges

One of the significant factors in your decision will be the cost of the account. Many banks offer an initial fee-free period, which can be very attractive for new businesses. However, it’s essential to look beyond these introductory offers and understand the standard charges that will apply later on.

Over and above the monthly subscription type charge (the one that often comes with ‘fee free’ introductory offer period) there are additional charges and fees to be aware of and they relate to the different types of activities and transactions passing through your account. For example, volumes of transactions or electronic payments. Look at the way your business transacts and match that to the best fee structure as they all vary to cater to different business models.

Key Account Features to Look For

Beyond the basic functions of making and receiving payments, modern business bank accounts offer a suite of features designed to make running your business easier.

Online and Mobile Banking: In today’s business environment, having 24/7 access to your finances is non-negotiable. Look for accounts with robust and user-friendly online platforms and mobile apps. These tools can help you manage payments, check balances, and get a clear overview of your cash flow from anywhere. ¹
Integration with Accounting Software: Many business accounts can now integrate seamlessly with popular accounting software like Xero, QuickBooks, and FreeAgent. This can save you a significant amount of time on bookkeeping, tax returns and forecasting.
Overdraft Facilities: An overdraft can be a valuable safety net for managing short-term cash flow gaps. When comparing accounts, look at the interest rates charged on overdrafts, any arrangement fees, and the eligibility criteria.
International Payments: If your business trades with customers or suppliers overseas, an account that offers competitive fees for international transactions and the ability to hold multiple currencies can be a significant advantage.

Tailoring the Account to Your Business Type

The right bank account for a sole trader may not be the best choice for a growing limited company. Your business structure and size will influence your banking needs.

For Sole Traders and Start-ups: Low-cost or free accounts are often a priority. Many providers offer accounts with no monthly fees and free electronic transactions, which can be ideal for new businesses with a lower transaction volume.
For Established and Growing Businesses: As your business grows, you may need more sophisticated features. This could include access to a dedicated relationship manager, higher overdraft limits, and more advanced online banking functionalities that allow for multiple user access with different permission levels. Some accounts also offer perks like cashback on spending or preferential rates on business loans and savings accounts.

The Process of Switching Your Business Account

If your current business bank account no longer meets your needs, switching to a new provider is a straightforward process thanks to the Current Account Switch Service (CASS). This free service is available for small businesses, charities, and trusts with an annual turnover of less than £6.5 million and fewer than 50 employees, if the new provider is a member of the scheme.

The CASS guarantees that your switch will be completed within seven working days. Your new bank will handle the entire process, including transferring your balance and all your existing payment arrangements, such as Direct Debits and standing orders. They will also close your old account for you. Any payments accidentally sent to your old account will be automatically redirected to your new one for at least three years, ensuring a smooth transition with minimal disruption to your business operations.

Business Bank Account FAQs

1. Do I legally need a business bank account?

If you operate as a limited company, you are legally required to have a business bank account as the business is a separate legal entity. For sole traders, it is not a legal requirement, but it is highly recommended to keep your personal and business finances separate for easier accounting and a more professional image.

2. What is the Current Account Switch Service?

The Current Account Switch Service (CASS) is a free service that makes it easy to switch your business current account from one participating bank or building society to another. The service ensures your switch is completed within seven working days, and all your incoming and outgoing payments are moved to your new account. It is backed by a guarantee, providing peace of mind that the process will be smooth and reliable.

3. Can I get a business bank account if I have a poor credit history?

It can be more challenging to open a business bank account with a poor credit history, but it is not impossible. Some banks offer basic business accounts that may not come with a credit facility like an overdraft and some with no credit checks at all. It is worth speaking to different providers about your circumstances, as their eligibility criteria can vary.

4. How important are online and mobile banking features?

In today’s business world, they are incredibly important. Good digital banking tools allow you to manage your finances 24/7, make payments on the go, and often integrate with accounting software to streamline your financial administration. For many businesses, the quality of a bank’s digital offering is a primary factor in their decision-making.

5. What information do I need to provide to open a business bank account?

As a minimum you will need to provide proof of your identity (such as a passport or driving licence) and proof of your address (like a recent utility bill). For limited companies, you will also need to provide your Companies House registration number and details of all directors and significant shareholders. The specific requirements can vary between banks, so it is always a good idea to check their website or speak to them directly before you apply.