There are lots of bank accounts to choose from, so how do you find the right one for you? We reveal which banks are the best in the UK for customer satisfaction and which ones are top for overseas spending, credit interest, cashback and more to help you choose the one that will suit you best and give you the features you want.
The best business bank accounts in the UK for 2023, by category
Finder’s best business & e-money accounts in the UK for 2023
|Provider||Best for||Expert score|
|Revolut business||Best e-money account for small businesses, sole traders and freelancers||4.3/5|
|Mettle||Best business bank account for app and online banking||4.2/5|
|Tide||Best business bank account for new business and best for accounting integration||4.1/5|
|ANNA Money||Best business bank account for invoice service||3.8/5|
|TSB||Best business bank account for high street banking||3.8/5|
|Cashplus||Best business bank account for bad credit||3.7/5|
Best high street business bank account
Best business bank account for small businesses, sole traders and freelancers
Best business bank account for bad credit
Best business bank account for new businesses and best for accounting integrations
Good for beginners and startups
Best business bank account for app and online banking
Best business bank account for invoice service
Good for international payments
Good for cashback
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.
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|
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
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).
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