Best business bank accounts for 2024

Want to avoid fees? Integrate with accounting software? Compare business bank and e-money accounts to find the best.

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Best for small businesses

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No monthly fee
  • Flexible account options
  • Mobile app with lots of good features
  • Ability to issue cards to all employees

Best for online banking

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Free business account
  • Quick and easy application
  • Freeze your card if you lose it
  • Free, with useful features

Promoted for free banking

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No monthly fees
  • Fee-free spending abroad
  • Custom payment links
  • Pots to separate money

Best for invoicing

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Free account with cashback
  • 24/7 support
  • Fast set-up
  • Invoice and expense services within the app

Table: sorted by promoted deals first
1 - 20 of 23
Name Product Ratings Account fee Bank transfers Requires credit check Arranged overdraft Account management Key benefits Business bottom txt Link
OFFER
Business Account For Start Ups
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Β£8.50 per month
(no account fee for the first 12 months)
Free
(First 100 electronic payments out free per month; 20p thereafter)

Online, app & phone
Digital banking with no account fee for 12 months*. Free accounting software available to business account holders. T&Cs Apply
*After 12 months, there’s a monthly fee of Β£8.50. Some fees and transaction charges will apply as soon as the account is open. This offer only applies to the business’s first current account.
Free accounting software available to business account holders. You must be registered for Online for Business or Commercial Banking Online. UK based businesses only.
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CASHBACK
ANNA Pay As You Go
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Free
Free
App
Earn 1% cashback for paying with your ANNA card in selected categories.
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OFFER
Monzo Business Lite
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Free
Free
Online & app
Get a free business account with no monthly fees.
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OFFER
Revolut Business Free
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Free
5/month then 20p per transfer
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
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Business Account - Startups
Business Account - Startups
Not yet rated
Β£8.50 per month
(waived in first 12 months)
Free*

Subject to application, financial circumstances and borrowing history.
Branch, online, app & phone
No monthly account fee for the first 12 months, then Β£8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over Β£260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply.
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OFFER
Cashplus Business Go Bank Account
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Free
Β£0.30
Free for first 3 payments sent each month (Β£0.30 for every transfer thereafter)

By invitation
Online & app
No annual or monthly fee when you apply using the Finder link
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EXCLUSIVE
Tide Free
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Free
Β£0.20
Free if both accounts are with Tide
Online & app
Get an Β£80 voucher when you open a Tide business bank account using the code Β£80CASHBACK.
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OFFER
Mettle by NatWest - Mobile business bank account
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Free
Free
Online & app
Get FreeAgent included - all you have to do is make at least one transaction a month from your Mettle account. If you don’t, or your account is closed and you continue to use FreeAgent then fees will apply.
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FREE TRIAL
The Co-operative Bank Business Current Account
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Free
Free

On application (subject to status, eligibility and The Co-operative Bank's Lending policy)
Branch, online, app & phone
Free everyday digital business banking with the original ethical bank, plus access to the free β€˜Go Get Paid’ app from BankiFi to help you get paid faster, rated 4.9 stars. Sole traders or Single Directors only. Charges apply for cash and cheque transactions. Apply online. T&Cs apply.
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Business account - Turnover up to 400k
Not yet rated
Β£8.50 per month
Free for EU digital transfers (SEPA)*

Subject to application, financial circumstances and borrowing history.
Branch, online, app & phone
No monthly account fee for the first 12 months, then Β£8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over Β£260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply.
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FREE TRIAL
Small Business Account
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Β£12.50 per month
(waived in first 3 months)
From Β£0.30
Online, app & phone
No monthly account fee for the first three months
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OFFER
Countingup Starter Business Account
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Β£3 per month
(waived in first 3 months)
Β£0.30
App
No monthly account fee for the first three months
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Business Account - Β£400k-Β£6.5m turnover
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Β£8.50 per month
(waived in first 12 months)
Free for EU digital transfers (SEPA)*

Subject to application, financial circumstances and borrowing history.
Branch, online, app & phone
No monthly account fee for the first 12 months, then Β£8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over Β£260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply. Visit here for more information.

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Revolut Business Scale
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Β£100 per month
1000/month free then 20p per transfer
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
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Revolut Business Grow
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Β£25 per month
100/month free then 20p per transfer
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
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CASHBACK
Tide Cashback
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Β£49.99 per month
Free
150 free per month
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
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OFFER
Tide Plus
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Β£9.99 per month
Free
20 free per month
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
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Tide Pro
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Β£18.99 per month
+ VAT
Free
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
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FREE TRIAL
ANNA Business
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Β£14.90 per month
(waived in first month)
Free
50 free bank transfers per month (20p per transfer after that)
App
Earn 1% cashback for paying with your ANNA card in selected categories.
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FREE TRIAL
ANNA Big Business
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Β£49.90 per month
Free
Unlimited free bank transfers
App
Earn 1% cashback for paying with your ANNA card in selected categories.
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Need more credit?

If your business requires additional credit, you also might want to consider taking out a business credit card. Whether you’re running a startup or a large established company, business credit cards offer a range of benefits that can help you better manage your finances.

Business credit cards give you greater control over your business cash flow by allowing you to cover any revenue shortfalls and freeing up additional capital that can then be reinvested in your business. You can also use a business card to increase your company’s spending power, better manage your expenses, and even earn business-focused rewards.

Capital on Tap Business Credit Card (+optional Business Rewards)

Capital on Tap Business Credit Card with optional Business Rewards

  • Earn 1% cashback for every Β£1 spent.
  • Redeem points for Avios
  • 10,000 bonus points when you spend Β£5,000 on your card in your first 3 months

Representative example: When you spend Β£1,200 at a purchase rate of 35.15% (variable) p.a., your representative rate is 35.15% APR (variable). Optional upgrade to Business Rewards (Β£99 per year).

New customers only. Terms apply.
Promoted

How do business accounts work?

A business bank account basically works like a personal one – the main difference is that it’s dedicated to your business’s finances. You should therefore expect the same features, such as a debit card, the ability to make and receive payments, an overdraft option, a banking app and so on.

However, business accounts can be a bit trickier than personal ones.

First of all, the fees are often higher. You can get yourself a free current account pretty much anywhere, but it won’t be as easy for your business. Secondly, there are more options and different ways of approaching business banking, so the best deal for your business will largely depend on what your business looks like. But no worries, we’ll help you figure out how to approach this particular problem.

Things to consider when applying for a business account

Before kick-starting your research, you should think of what your business needs and why. Best deals and options vary accordingly, so try to consider the following:

  • Business type. Sole traders, startups and charities, for example, can often get dedicated account options and deals.
  • Annual turnover. Over a certain amount, you won’t be able to apply directly. Many banks will want to talk to you to negotiate a bespoke solution.
  • Usage. Many bank accounts charge a monthly fee and then all transactions come for free. However, in some cases, the monthly fee will be zero or very low, and you’ll be charged according to the payments you make. So it’s worth spending some time figuring out how much you’re planning to use your business account.
  • Cash. Not all financial institutions offer cash deposits and they sometimes come for an extra fee. If you have to deal with a lot of cash due to the nature of your business, you may want to consider this when comparing bank accounts.
  • Ways of banking. If you’re a tech-savvy person who likes doing everything on your smartphone, don’t forget to check if there’s an app and if it looks as slick and tidy as it should. On the other hand, if you’d rather talk through your options in person, you may want to avoid digital-only banks.
  • Trading abroad. If you often receive or make international money transfers, or you travel a lot for business purposes, you need to be careful with the extra fees many institutions charge.
  • Related products. Are you just looking for a current account, or do you also need a savings account or a credit card? These things aren’t necessarily related, but having them all with the same financial institution may save you some bureaucratic hassle.

How to compare business bank accounts

Once you’ve got your needs clear, you’re ready to start looking. Here are some of the parameters that can help you with your comparison:

  • Fees. Free business banking isn’t really a thing, so how much is it going to cost you?
  • Introductory offers. You can sometimes get free banking for a year or two when you sign up – just remember to check what happens when the offer expires and switch if the deal isn’t worth it anymore.
  • Borrowing options. Can you get an overdraft if your business needs it? How expensive is it?
  • Interest rate. You won’t find any sky-high rates among business current accounts, but some banks do offer a little percentage, which can be a nice cherry on top of the cake.
  • Accounting integration. It would be nice if you could manage banking and accounting from the same platform, without uploading and downloading dozens of spreadsheets, wouldn’t it? We’re not quite there yet, but some banks will offer some kind of integration with accounting software such as Xero – your finance team will like that.
  • Perks. Again, don’t expect banks to be too generous with business current account customers, but some do offer some rewards in the form of cashback or discounts.

How to apply for a business bank account

The main difference between personal and business banking is in the paperwork – opening a business account will require more time, effort and documents, and in many cases you won’t be able to do it all online.

Here’s a list of the documents and information you should be prepared to give:

  • Your personal details. Including three years of address history. If there are other partners or directors, you’ll also need their details.
  • Your business’s details. Including address, contact details and registration number.
  • Financial information. Annual turnover, how much money you plan to pay into the account, tax status, sources of income.
  • Information on other financial arrangements. Such as existing credit cards and loans.

What are the benefits of opening a business bank account?

Separating business and personal banking is a necessity for anyone who owns a company. Not sure why exactly you should open a business bank account? Here are some of the many reasons:

  • All your business transactions are separated from your personal ones which makes your business accounting records more organised.
  • Some banks have mobile apps so you can check your records and make business payments anytime you want, anywhere you are.
  • You can set up standing orders for business expenses. No need to worry about not paying on time anymore!
  • You can pay your employees easily.
  • If you’re a small business owner, you may be able to enjoy a free banking period for some time.
  • From insurance to coffee supplies, some banks offer discounts for products and services that you may find useful for your company.

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Frequently asked questions

Banking scores

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Finder scores, in blue, are based on our expert analysis. We also show reviews from users, where we've received more than 10, with a score in yellow. We gather more reviews from customers every year in Finder's customer satisfaction survey.

To find out more, read our full methodology.

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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