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- 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
27 Products Compared
Tide Business Bank Account-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:Free for one year*
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Overdraft:No
- Apply online in minutes with no credit checks or paperwork needed
- This account comes with no monthly maintenance fees
- 20p per bank transfer
- Single director access only
- Create and send invoices for free
- Multi-business – hold up to 5 business accounts
- Automated 30-day cash flow forecasts
- 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
Virgin Money M Account for Business-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:Free
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Overdraft:Yes
- Free online business banking (excluding CHAPS & international)
- 0.25% cashback on debit card purchases. Terms apply
- For businesses with less than £1m annual turnover
- Virgin Money offers 24/7 self-service but not 24/7 customer support
- 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
- Available for eligible businesses with up to £1m 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
HSBC UK Small Business Banking Account-
Monthly Fee:£0
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Monthly Fee Offer:None
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Bank Transfers:Free*
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Overdraft:Yes
- No monthly account fee and free UK digital banking*
- Comprehensive features: A full range of business banking services.
- *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.
- 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
- 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.
Tide Savings Business Bank Account & Savings Account-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:Free for one year*
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Overdraft:No
- Apply online in minutes with no credit checks or paperwork needed
- This account comes with no monthly maintenance fees
- 20p per bank transfer
- Single director access only
- Create and send invoices for free
- Multi-business – hold up to 5 business accounts
- Automated 30-day cash flow forecasts
- 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
Revolut Basic Business Account-
Monthly Fee:£10
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Monthly Fee Offer:None
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Bank Transfers:10 Free per month
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Overdraft:No
- No monthly fee with 10 free local bank transfers per month
- Compatible with accounting software and create invoices in app
- Only 5 free local transfers and no free international transfers
- An e-money product with no branch access
- 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
- 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
Monzo Business Lite-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:Free
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Overdraft:Yes
- 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
- Online account management only, no phone or branch access.
- Not currently available for charities or partnerships.
- Free, instant UK bank transfers
- 24/7 customer support
- Mobile and web access
- The Monzo banking essentials
- Only sole traders or limited company directors in the UK can apply. Ts&Cs apply.
Barclays Start-up Business Bank Account-
Monthly Fee:£8.50
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Monthly Fee Offer:12 months free
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Bank Transfers:Free
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Overdraft:Yes
- Free digital banking and no monthly account fee for the first 12 months*
- Access to discounted services via key partners, worth over £5,000**
- After 12 months, the monthly account fee is £8.50 per month*
- **T&Cs apply to each partner service, see partner website for details.
- 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
- 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.
- 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.
Zempler Bank Business Bank Account-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:3 free per month
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Overdraft:Yes
- There are no credit checks to open an account
- Accounting integrations Inc. Xero, Quickbooks & Sage
- A one-off £9.95 card issuing fee applies
- ATM withdrawal fees apply in UK and abroad
- 24/7 app & online servicing and UK based customer service team
- FSCS protection – up to £85,000
- Deposit cash into any of the UK’s 11,500 Post Offices.
- Invoicing tools that allow you to create and send invoices easily
- Available to UK registered companies or UK-based sole traders
- Application made by UK Director
- UK Director 18 years old plus
Allica Bank Business Current Account-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:Free
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Overdraft:No
- Access to competitive savings interest rates
- Earn up to 1.5% cashback on eligible card spending
- Businesses must be trading for at least 6 months
- Must have a min balance of £50k or have an Allica loan product
- 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
- 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.
Equals Money Start Up Business Account-
Monthly Fee:£25*
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Monthly Fee Offer:None
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Bank Transfers:Free
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Overdraft:No
- Simple onboarding with no credit checks, good for businesses without established credit history
- Ability to hold and transact in multiple currencies, useful even for start-ups with international clients or suppliers
- No overdrafts, loans, or credit facilities, which start-ups might eventually need as they grow
- An e-money account with no branch access
- Budgeting tools
- Manage multiple currencies
- Make tax preparation easy
- Available to Limited Companies, Sole Traders and Partnerships
- You must be 18+ and a UK resident.
Card One Money Business Account-
Monthly Fee:£12.50
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Monthly Fee Offer:None
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Bank Transfers:From 30p
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Overdraft:No
- No credit checks or signatures required
- Supports integration with platforms like Xero, Sage, and FreeAgent
- One-off £55 application fee which is refundable if the application is unsuccessful
- £12.50 per month with no free monthly period
- Up to 4 additional cards for business use
- UK-based customer support
- International payments in a range of currencies
- Available to Limited Companies, Sole Traders and Partnerships
- Your business must be registered in the UK and have an annual turnover of less than £2m
- You must be 18+ and a UK resident. Card One Money need to be able to verify your identity & residency.
- Card One Money is not covered by the Financial Services Compensation Scheme. See product FAQs for more info
Anna Money Pay As You Go-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:From 20p
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Overdraft:No
- You can obtain a UK business account and sort code in 3 mins with ID
- One free debit card included (£3 per extra card)
- No joint account access
- An e-money product with no branch access
- 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
- 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
The Co-operative Business Bank Account-
Monthly Fee:Free
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Monthly Fee Offer:Ongoing
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Bank Transfers:Free
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Overdraft:Yes
- Ideal for start ups and growing businesses who bank digitally
- No charges for all automated credits, cash withdrawals and debit card purchases
- Charges apply for cash and cheque transactions
- An overdraft arrangement fee applies and where security is required, additional security fees may apply
- 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
- 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
Counting Up Business Current Account-
Monthly Fee:£3
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Monthly Fee Offer:3 months free
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Bank Transfers:30p
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Overdraft:No
- Perfect for start-ups: Pay a low monthly fee depending on how much your business earns
- Automated taxes calculates what you owe in real time
- The price increases with account usage
- An e-money product with no branch access
- Monthly subscription fees that go up and down in line with your business performance
- Rated ‘Excellent’ based on over 2,000 reviews on Trustpilot
- Built-in accounting software with receipt capture and live business insights
- Available to sole traders and limited companies
- You must be 18+ and a UK resident
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.
Why Switch Your Business Bank Account?
As a business owner, your banking needs can change over time. The account that was perfect for your startup might not be the best fit once your business is more established. There are many compelling reasons to consider switching your business bank account. You might be looking for lower fees, better customer service, more advanced digital banking features, or access to more suitable credit facilities.
Many banks actively compete for business customers by offering attractive incentives to switch, such as cash bonuses or extended periods of free banking. The process of switching has also become significantly easier in recent years, meaning the administrative headache that once put many people off is now much less of a concern. Regularly reviewing your business banking arrangements ensures you are getting the best value and service, which can have a direct positive impact on your bottom line and operational efficiency.
The Current Account Switch Service (CASS)
The biggest barrier for many business owners considering a switch has historically been the perceived hassle of moving direct debits, standing orders, and incoming payments. The Current Account Switch Service (CASS) was created to solve this problem. It’s a service that makes switching business current accounts simple, reliable, and stress-free.
The service is available and free to small businesses, charities, and trusts with an annual turnover of up to £6.5 million. When you switch using CASS, the service will:
- Move all your incoming and outgoing payments (like direct debits and standing orders) from your old account to your new one.
- Transfer any balance from your old account.
- Close your old account for you.
- Ensure that any payments accidentally made to your old account are automatically redirected to your new account for a period of 36 months.
The entire process is backed by the Current Account Switch Guarantee, which promises to have your new account up and running within seven working days and to refund any interest or charges you incur if something goes wrong with the switch.
Key Factors to Consider Before Switching
Before you start the switching process, it’s wise to assess what you need from a new account.
- Fees and Charges: Look beyond the headline offer. Compare monthly account fees, transaction charges, cash deposit fees, and international payment costs. An account with a cash switching incentive might be more expensive in the long run if other fees are higher.
- Digital Features: Do you need an app with invoicing tools, spending analytics, or seamless integration with your accounting software like Xero or QuickBooks?
- Access to Credit: If you anticipate needing an overdraft or business loan in the future, investigate what a potential new bank can offer and its eligibility criteria.
- Customer Service: Consider what level of support you need. Do you value being able to visit a branch, or are you happy with app-based chat and telephone support?
How the Switching Process Works
Switching your account using CASS is a straightforward process:
- Choose a New Account: Research and find a new business bank account that meets your needs. Make sure the new provider is a member of CASS
- Apply and Request to Switch: When you apply for the new account, you will be asked if you want to switch using the Current Account Switch Service. You’ll need to provide the details of your old account.
- Agree on a Switch Date: You can choose a switch date that suits you, as long as it’s at least seven working days away.
- Let the Service Do the Work: Your new bank will work with your old bank to move everything across. You can continue using your old account until the agreed switch date.
No Credit Check Business Bank Account FAQs
1. Is the Current Account Switch Service (CASS) available for all businesses?
No, the full guarantee of the service is specifically for small businesses with an annual turnover of up to £6.5 million and fewer than 50 employees. Larger businesses can still switch, but they will need to use a manual process provided by the bank, which may take longer. Also remember not all business account providers are signed up to CASS.
2. Will switching my business bank account affect my credit score?
When you apply for a new business account, the new bank will likely perform a credit check on your business and, if you are a sole trader or director of a small company, on you personally. This can cause a small, temporary dip in your credit score. However, this is a normal part of applying for any financial product.
3. Can I switch if I have a business overdraft?
Yes, you can switch if you have an overdraft, but how it’s handled depends on the provider. You will need to agree with your new bank whether they will provide you with an overdraft facility. You cannot switch using CASS if you have an overdraft that your new bank is not prepared to cover. You would need to repay your existing overdraft before you can close the old account.
4. How long does it take to switch a business bank account?
The Current Account Switch Service guarantees that your switch will be completed in seven working days from the switch date you agree with your new account provider.
5. Are there cash incentives for switching business bank accounts?
Yes, offer cash incentives or other perks to persuade new business customers to switch to them. These offers change frequently, so it’s worth comparing the latest deals. Always read the terms and conditions, as you usually have to meet certain criteria (like depositing a minimum amount) to qualify for some offers.