Best business bank accounts in the UK for 2023

Best high street business bank account: TSB

Finder rating

★★★★★

Customer rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

30 months of fee-free Business Banking when you switch to TSB.

TSB’s Business Plus account comes with 30 months free day to day banking as well as a free Square Reader. TSB also has an exclusive app, Revenu, which is designed to help you keep track of customer payments and send digital payment requests by SMS, email or QR codes. If you’re looking to grow your business, TSB offers 12 months of free specialist support and advice through Enterprise Nation. This includes expert podcasts, videos and weekly masterclasses. To qualify you must be aged 18 or over, a sole trader, partner or director and your business must be registered in the UK.

• Free everyday business banking for 30 months
• Free Square Reader
• Access to payments app
• Advice service

• Monthly service charge applies after 30 months
• Fees apply to certain transactions

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent QuickBooks Sage Xero
Requires credit check	N/A
Overdraft	N/A

Best business bank account for small businesses, sole traders and freelancers

Best business bank for small businesses, sole traders and freelancers: Revolut Business

Finder rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

Sign up today and unlock 1 month of a paid plan without subscription fees.

The business account from Revolut enables you to create, send, manage and reconcile invoices, all within its free service. Revolut is known for its multicurrency approach, and its business account is no different. You can receive, hold and exchange money in more than 25 currencies worldwide with no hidden fees. You can set up as many sub-accounts in each currency as you need. In addition, you can get fixed foreign exchange rates for a set amount and date in the future, and you can spend like a local worldwide with your company debit card in 150 currencies. Each team member can get up to 200 virtual cards and 3 physical plastic cards. You can set card limits, track, freeze and unfreeze cards, as well as decide where cards can be used. If you’re looking for something a little more impressive, choose the Revolut metal card, exclusive to Revolut’s paid plans.

• Flexible account options
• Mobile app with lots of good features
• Ability to issue cards to all employees
• Easy to apply
• Freeze card if lost or stolen
• Safe and secure
• Free purchases

• Free account does not include many free transactions
• All ATM withdrawals incur a charge
• Can't deposit cash or cheques into your account
• Not yet a fully fledged bank
• Currently unable to earn interest
• Direct debits only available for EUR accounts

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent Xero
Requires credit check	N/A
Overdraft	N/A

Best business bank account for bad credit

Best business bank account for bad credit: Cashplus

Finder rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

No annual or monthly fee when you apply using the Finder link.

Opening a business bank account with bad credit can be complicated. Most banks carry out a credit check when you submit your application and reject it if you don’t meet the requirements. All is not lost, though! Some companies, like Cashplus, offer banking services perfect for businesses with poor or no credit history. There are no credit checks when you apply. The only thing that needs to be verified is your contact details.

• Open an account in 5 mins
• "Cashplus iDraft" once eligible
• Currency cards for travel
• Online services in addition to the mobile app

• Charge to have your bank card issued
• Traditional bank still needed for majority of your business finance needs

Account fee	N/A
Bank transfers	N/A
Accounting integrations	Clear Books FreeAgent KashFlow QuickBooks Sage Xero
Requires credit check	N/A
Overdraft	N/A

Best business bank account for new businesses and best for accounting integrations

Best for new business and best for accounting integrations: Tide

Finder rating

★★★★★

Customer rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

Open a business account with no monthly fees.

Tide is a fintech app that offers business accounts to small businesses and freelancers, hoping to relieve some of the financial stress that comes with a growing company. One of the ways it does this is to help new businesses register their limited company and open an account all in one go. Tide also stands out for the number of accountancy software packages it can integrate with, giving you more choices to find one that suits your business needs.

• 24/7 customer support
• Categorised spending
• FCA regulated
• Quick set-up
• No monthly fees
• Easy to manage accounts and track payments within the app
• Ability to set up direct debits and standing orders
• Can receive online bank statements

• No branches - all done via the web
• Doesn't accept cheque deposits
• No personal accounts
• No international transfers or interest offered

Account fee	N/A
Bank transfers	N/A
Accounting integrations	Clear Books FreeAgent KashFlow QuickBooks Reckon One Sage Xero
Requires credit check	N/A
Overdraft	N/A

Good for beginners and startups

Good for beginners and startups: Starling

Finder rating

★★★★★

Customer rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

Add the new Business Toolkit onto your free Starling account, and get the first month free of charge (RRP £7pcm).

The era of banking in its traditional form is being surpassed. Digital banking is on the rise, offering customers 24/7 access to their bank accounts via apps and other types of online accounts. Starling stands out for its user experience and its intuitive app. If you are just starting out, you can manage your money anytime you want and anywhere you are. What’s more, you can get instant notifications about the payments you’ve made or received and sort your invoices quickly and easily. If you’re looking for high service quality and features to help you manage your business costs, Starling may be the best option for you.

• Add the new Business Toolkit onto your free Starling account and get the first month free of charge (RRP £7pcm)
• Completely free UK current account opened and ready to use in 20 minutes
• Safe and secure
• Fully licensed by the FCA and PRA
• Free to use your card abroad including ATM withdrawals, splitting the bill made easy with "settle up" feature, competitive and comprehensible overdraft fees
• Decent interest rate paid on current account balances
• Efficient app offering a range of good features such as budgeting tools and saving features
• Has a marketplace offering competitive pensions
• Mortgages and insurance from other growing fintech companies
• Teen account options
• 24/7 customer support (for all types of enquiries)

• Relatively new so does not offer every feature, e.g. mortgages
• No bank branches, all done via the web
• Only available to UK residents

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent QuickBooks Xero
Requires credit check	N/A
Overdraft	N/A

Best business bank account for app and online banking

Best business bank account for app and online banking: Mettle

Finder rating

★★★★★

Customer rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

A free business account with no monthly fees.

Mettle is the first standalone business banking app offered by one of the high street banks, NatWest Group. It lets business customers apply for an account in minutes, forecast business performance and create invoices. All of this can be done from its free-to-use app, which rivals the mobile app-based business accounts already offered by challenger banks. Mettle’s app has some of the highest ratings in both the Apple App Store and Google Play Store, showing it’s invested in a mobile-first customer experience.

• Quick and easy application
• Freeze your card if you lose it
• Free, with useful features
• Backed by the Natwest group
• Sleek easy to use app

• Overdrafts are unavailable
• Daily payment limit of £10,000

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent QuickBooks Xero
Requires credit check	N/A
Overdraft	N/A

Best business bank account for invoice service

Best business bank account for invoice service: ANNA Money

Finder rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

Earn 1% cashback for paying with your ANNA card in selected categories.

Invoices are crucial for keeping solid financial and accounting records. To invoice your company’s clients, you can always do it the old-fashioned way and create them manually, using templates and sending the invoices via email. It can be time-consuming, though, and the last thing you want is to make a mistake while creating them. To avoid that, choose a digital bank that offers accounting software and services that automatically generate invoices you can send to your clients. One such company is ANNA Money, which can help you save time and avoid the stress of chasing payments.

• Ability to connect other provider accounts to the ANNA app through Open banking
• 24/7 support through the app aiming to give a response within 10 mins
• Fast set-up
• Invoice and expense services within the app

• No credit or overdrafts available
• Still require a traditional bank account for majority of your business financial needs
• No cash and cheque deposits
• Cannot be used in web browser

Account fee	N/A
Bank transfers	N/A
Accounting integrations	Sage Xero
Requires credit check	N/A
Overdraft	N/A

Good for international payments

Good for international payments: Monzo Business

Finder rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

Get a free business account with no monthly fees.

Monzo has teamed up with international money transfer company Wise to support international payments. Wise is a specialised money transfer service that shows its fees and exchange rates upfront. If you are keen to avoid any nasty surprises, then you can use Wise’s calculator before making your payment to see how much you will be charged. Limits on how much you can send are the same as your daily and rolling 30-day transfer limits tied to your Monzo Business account.

• Fee-free spending abroad
• Custom payment links
• Pots to separate money

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent QuickBooks Xero
Requires credit check	N/A
Overdraft	N/A

Good for cashback

Good for cashback: Card One Money

Finder rating

★★★★★

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• Why it’s great
• Pros/cons
• Details

No monthly account fee for the first three months.

Card One Money has designed its business bank account specifically for small businesses, and you can apply if you are a sole trader, partnership or limited company. You can set up the account through a speedy online process, with no credit check required. One of the biggest draws is that you can earn cashback for everyday use of your prepaid business card. Order up to 4 cards for your team and add money directly from your account.

• Quick application process
• No credit check required
• Cashback rewards available on the associated Mastercard
• No failed payment fees

• Quite a few charges involved compared to some other business accounts, including the £55 application fee, £12.50 monthly account fee and various other transaction fees
• No credit or overdrafts available

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent Sage Wave Xero
Requires credit check	N/A
Overdraft	N/A

How to choose the best business bank account for your business

There are many factors to consider when choosing a business account, many of which apply whether you are a foreigner or a UK resident. It’s important to do your research and think about the following:

• Cost. Pricing structures can be complicated for business bank accounts. Some have monthly fees, some have transaction fees and many have both. Think about how you’ll use your account and what works out to be your cheapest option.
• Your type of business. It’s a good idea to look for something that’s as tailored to your business as possible. Some banks offer both startup accounts and ones designed for more established businesses.
• Cash. If you take a lot of cash payments and need to deposit this cash into your business account, make sure you have a bank branch or pay-in point nearby.
• Ways to bank. Some business owners prefer to discuss banking in person, while others would rather have a great mobile app that makes banking slicker on the go. Not all banks will provide both.
• Accepting payments. Do you need to set up card payment terminals as well as a business account?
• Accounting software integration. If you’re managing a small business, being able to do banking and accounting from the same place makes life easier. Popular integrations include Xero, QuickBooks and FreeAgent.
• Related financial products. Do you also need a savings account, insurance or a business loan, and does your chosen bank provide these?
• International banking. Do you trade abroad or need to make a lot of international payments? Check if you can do this with the business account or if you can open an accompanying account in a different currency.
• Bad credit. If you have a poor credit history, you might be more likely to have your business account application rejected, but some banking providers specialise in accounts for these types of customers.
• Address checks. Some of the digital-only banking providers don’t ask for proof of address. This is particularly relevant if you have bad credit or are a foreigner without a UK address and are looking to open a business account here.

Expert analysis: The best business bank account for you

Cathy Hudson

Money expert

There are a range of factors to consider when looking for the business bank account that will suit you best, depending on the size and nature of your business.

If you're a small business, sole trader or freelancer, the best one to consider is Revolut Business. It doesn't charge a monthly or annual fee with its 'free' service and allows you to create and manage invoices as part of this. You can also hold and exchange 25 different currencies fee-free.

Your options may be limited if you have a poor credit history, as most banks perform a credit check before giving you an account. However, some will offer you an account without credit-checking you, such as Cashplus, which offers the best business bank account for people with bad credit. Its Business Go account has no monthly fees, and you can bank online or through an app.

If customer satisfaction is your priority, digital-only bank Mettle comes top for this, according to our survey of business banking customers. It gets the highest rating for overall satisfaction, and 97% of its customers said they would recommend it. HSBC is the second best for overall satisfaction, with 97.2% of its customers saying they would recommend it.

Best business banks for customer satisfaction in 2023

Our customer satisfaction awards are decided by the only votes that really matter – yours. We asked customers of 11 major business banking providers to tell us about their experiences. Now, we can reveal how they rated these UK banks. Learn more about the awards here, including our ratings methodology.

Issuer	Issuer logo	Overall satisfaction	Customers who’d recommend	Review	Link
Mettle		★★★★★	97%	Mettle is a comparative newcomer to business banking and is a digital-only offshoot of parent company NatWest. It’s moved up the ranks this year to secure the top spot with a “would recommend” score of 97%.	Visit Mettle
HSBC		★★★★★	97.2%	HSBC, the largest bank in the UK, also polled strongly in our survey, posting a rating of 4.5 stars. Like some other banks here, it offers a free banking introductory period for startups or businesses switching their account, after which fees apply.	Read our review
Royal Bank of Scotland		★★★★★	96.8%	Royal Bank of Scotland finished a respectable third in this year’s business banking survey. It posted 4.5 out of 5 stars and a 96.8% “would recommend” score. Its customers that we canvassed praised the “great customer service”.	Read our review
Barclays		★★★★★	95%	Another high street veteran, Barclays, isn’t far behind. The bank operates different business accounts depending on company size, and our survey respondents praised its “helpful” customer service.	Visit Barclays
Lloyds Bank		★★★★★	94%	Long-established Lloyds Bank recorded an impressive “would recommend” score of 94% in our survey. It offers business accounts for new and established businesses, as well as one for clubs and charities. Customers cited the bank’s customer service and clear pricing.	Visit Lloyds
NatWest		★★★★★	91%	It’s a competitive table this year, so while NatWest may have finished in the middle, just over 9 out of 10 of the customers we surveyed would recommend this bank to a friend and were generally pleased with its level of customer support.	Visit NatWest
Santander		★★★★★	91%	Santander operates a range of different business accounts, some of which come with discounted fees for startups or customers who are switching. Customers praised its reliable and “friendly” service.	Read our review
Starling		★★★★★	91%	Digital challenger bank Starling matched established high street banks “would recommend” scores in our survey despite not having any branches. The customers we polled highlighted its easy-to-use app and low business banking charges.	Read our review
Virgin Money		★★★★★	91%	Virgin Money posted 4.5 out of 5 stars and a “would recommend” score of 91% in its first year in our survey. It offers 25 months of free day-to-day banking to new business customers.	Read our review
Bank of Scotland		★★★★★	91%	Although its branch network is mainly confined to Scotland, Bank of Scotland offers accounts to businesses across the UK. It has several business account options, and there is a dedicated resource centre, especially for business account holders.	Read our review
The Co-operative Bank		★★★★★	94%	The Co-operative Bank is known for its ethical business banking, and customers in our survey commended it on its reliable service. Over 9 out of 10 customers would recommend this bank to a friend.	Visit The Co-operative Bank
TSB		★★★★★	93%	TSB slipped down the table this year but still posted a very respectable 93% “would recommend” score. TSB relaunched on the UK high street in 2013 and is currently offering an initial period of free business banking for 30 months to startups and account switchers.	Visit TSB
Tide		★★★★★	91%	Tide is a digital-only business banking provider, and its customers highlighted its easy account setup and clear-to-use online features as some of its major plus points.	Visit Tide

Bottom line

When choosing a business bank account, think carefully about the features your business needs and how you’ll use them. Having an account with no monthly or annual fees may be important to you, but one with fees could save you time and money in the long run. And if you often make cash deposits, you’ll need to be with a bank with branches in your area. There are a range of accounts on offer, so you should find one that suits you and your business.

Frequently asked questions

• Can a foreigner open a business bank account in the UK?

  UK banks are allowed to offer business accounts to non-UK residents, although the application process may be longer because of the extra checks they have to undertake.

  The big high-street banks may also be more likely to offer a non-UK resident an international bank account rather than a business account. As a minimum requirement, you'll need ID and proof of address for the country you reside in.

  But if you're happy to run your business account online or through your mobile phone, there are now many digital-only business accounts available in the UK, thanks to the new digital challenger banks and other fintech providers entering this market.

  The advantage of this for foreign applicants is that some (not all) of these digital banking providers do not require a proof of address, so you can easily open the account from abroad. Learn more about opening a UK bank account as a non-UK resident.

• Can I open a business bank account online?

  Yes, it is possible. The digital banking era brought the possibility of setting things up without having to go into an actual bank. Even though most banks allow account set-up online, some may require your attendance, so make sure you're familiar with all the terms of applying.

• How long does it take to open a business bank account?

  Although the application may take minutes, the actual account setup might take a bit longer. The bank you sign up to usually needs to review your documents and check your eligibility. Your account may be ready for use within minutes, days or weeks, depending on the institution you apply to.

• Is there any free business bank account?

  Being able to open a bank account that is totally free of charge is more common if you only need it for personal use. Business bank accounts can be pretty expensive, whether because of transaction or account management fees. However, some are a lot cheaper than others, so read the terms carefully and estimate the costs of opening an account before you decide. Also, if your company is a startup or you plan to change banks, you may be offered a free banking period.

• Can I open a business bank account if I have bad credit?

  Yes, you can. Most business bank account providers carry out some kind of credit check on you, which will highlight a poor credit score. But a few providers let you open an account without any credit checks (but be aware that these products tend to come with higher usage fees). For more information on opening a business account without a credit check, read our guide to opening a business account with a bad credit score.

• Can I just use my personal account for business purposes?

  Generally not. Legally, you can only do this if you are a sole trader. But even in that case, some banks may not allow it. Check your terms and conditions before doing it. You can learn about the benefits of opening a business account.

• How does switching business accounts work?

  You'll need to contact the new financial institution you plan on switching to, and it will take care of that for you. If it's signed up to the Current Account Switch Guarantee, it will transfer your funds, direct debits and standing orders, redirect your incoming payments and, if you want to, close your old account – for free.

  You can switch your account within 7 days if the bank you're switching to is signed up to the Current Account Switch Service. Learn more about the process and find a provider that can help with the switching process.

• Can you have a joint business account?

  Yes, this is possible. Some providers allow you to register with a partner during the application process, while others allow you to add extra users to your account after its creation. Compare joint business bank accounts here.

• What kind of bank accounts are available for clubs and societies?

  Clubs, societies and other community organisations can open dedicated current accounts, which tend to be cheaper than regular business accounts. Most traditional high-street banks offer these "community" accounts.

  In most cases, your organisation won't need to be a registered charity, but it should be able to prove that it has a charitable purpose, a definition that covers a broad range of organisations – from community groups to sports clubs. Read our guide to opening a bank account for a club, community or society.

• Which banks offering business accounts have branches?

  While there are some great accounts from the newer digital-only banks, these won't be ideal if you need in-branch services. Banks with business accounts that let you do branch banking include Barclays, the Co-operative Bank, HSBC, Metro Bank, the Royal Bank of Scotland, TSB and Virgin Money.

• What are the downsides of business bank accounts?

  Business accounts don't usually pay good rates of interest on the money in your account, and you'll have to pay a monthly fee for most of them. There may also be fees for specific transactions.

Customer satisfaction ratings methodology

We asked business account holders to rate their satisfaction with the service they had received from their banking provider and also whether they would recommend that provider to a friend. Our independent survey of 623 business banking customers was carried out in December 2022 – read full details of our methodology here.

We have crunched the numbers and shown the results for the 13 banking providers listed in the table above. We used these ratings to decide the winners of our awards (if there was a draw on the star ratings score, we used the “would recommend” percentage as a tie-breaker).