Compare business bank accounts in the UK 2024

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

Promoted
Revolut Business Basic logo
Open a free business bank account
Flexible account options
Mobile app with lots of good features
Ability to issue cards to all employees
Go to site

A good business bank account is essential for running your business effectively, whether you’re a sole trader or a large established firm. Here you can see which are the best free and paid-for accounts, and which are best for aspects such as online and app banking or invoicing. We also look at accounts that suit businesses of different sizes. We also have a guide on the best business bank account currently available.

Table: sorted by promoted deals first
1 - 19 of 104
Name Product Finder score Account fee Bank transfers Requires credit check Arranged overdraft Account management Key benefits Business bottom txt Link
OFFER
Monzo Business Lite
3.7
★★★★★
Free
Free
Online & app
Get a free business account with no monthly fees.
Go to site
View details
Business Account - Startups
Business Account - Startups
Not yet rated
£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 £8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over £260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply.
Go to site
View details
CASHBACK
ANNA Pay As You Go
4.2
★★★★★
Free
£0.20
per transfer
Online & app
Earn 1% cashback for paying with your ANNA card in selected categories.
Go to site
View details
Finder Award
OFFER
Revolut Business Basic
4.3
★★★★★
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.
Go to site
View details
Finder Award
EXCLUSIVE
Tide Free
4.1
★★★★★
Free
£0.20
Free if both accounts are with Tide
Online & app
Get an £50 voucher when you open a Tide business bank account using the code £50VOUCHER
Go to site
View details
OFFER
Multi-Currency Business Account
Not yet rated
Free
Free
Online & app
Earn 10% cashback on your first $1,000 of international transactions with Airwallex (T&Cs apply)
Go to site
View details
OFFER
Cashplus Business Go Bank Account
3.7
★★★★★
Free
£0.30
Free for first 3 payments sent each month (£0.30 for every transfer thereafter)

By invitation
Online & app
No annual or monthly fee when you apply using the Finder link
Go to site
View details
Finder Award
FREE TRIAL
The Co-operative Bank Business Current Account
3.5
★★★★★
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 ‘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.
Go to site
View details
FREE TRIAL
Small Business Account
3.3
★★★★★
£12.50 per month
(waived in first 3 months)
From £0.30
Online, app & phone
No monthly account fee for the first three months
Go to site
View details
Business account - Turnover up to 400k
Not yet rated
£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 £8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over £260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply.
Go to site
View details
Business Account - £400k-£6.5m turnover
3.6
★★★★★
£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 £8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over £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.

Go to site
View details
OFFER
Business Account For Start Ups
3.3
★★★★★
£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 £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.
Go to site
View details
Allica Business Current Account
OFFER
Allica Business Current
Not yet rated
Free
Free
Online, app & phone
Earn 4.33% AER* (variable) interest rate on a linked savings pot.
Must have been trading for at least 12 months, and have a minimum balance of £50,000 or be an existing loan product customer of Allica Bank.
Go to site
View details
Revolut Business Scale
4.0
★★★★★
£79 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.
Go to site
View details
Revolut Business Grow
4.0
★★★★★
£19 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.
Go to site
View details
Finder Award
OFFER
Tide Plus
3.8
★★★★★
£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.
Go to site
View details
Tide Pro
3.7
★★★★★
£18.99 per month
+ VAT
Free
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
Go to site
View details
Finder Award
CASHBACK
Tide Cashback
3.7
★★★★★
£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.
Go to site
View details
FREE TRIAL
ANNA Business
3.8
★★★★★
£14.90 per month
(waived in first month)
Free
50 free bank transfers per month (20p per transfer after that)
Online & app
Earn 1% cashback for paying with your ANNA card in selected categories.
Go to site
View details
loading

What is a business bank account?

A business bank account is simply a bank account designed for business transactions. Business bank accounts work in a similar way to personal bank accounts but can help businesses keep track of business income and expenses.

You can use your business bank account to send and receive money, helping you to pay staff wages and receive client payments, and you can set up standing orders and direct debits to pay your bills. Business bank accounts can also offer a range of additional features you won’t find with a personal account, such as the option to carry out transactions in foreign currencies or the ability to integrate with accounting software.

If you run a limited company, you will be required to use a business bank account. If you’re a sole trader, there’s no such requirement, but it can still make a lot of sense to open one and keep your business transactions separate from your own.

How do I compare business bank accounts?

When comparing business bank accounts, there are a number of factors you’ll need to consider:

  • Fees. Some business bank accounts will charge a monthly fee for using the account. Others will charge for everyday banking transactions. Some might even charge for both, so be sure to check carefully. In some instances, fees will be waived for the first year or so which can be useful if your business is just starting out.
  • Transaction limits. Some banks might limit how much money you can transfer in one transaction, so if you’re likely to be regularly transferring large sums, check if the limit is sufficient.
  • Overdraft facility. If you’d like to have an overdraft on your business bank account, look for an account that offers one and check how much interest it charges.
  • Account management. Consider whether you’re happy to manage your business account online or via an app, or whether you’d prefer to have a bank branch to pop into. You might need this if you need to pay cash into the account, for example.
  • Additional features. Some business bank accounts can integrate with accounting software or help you create invoices, so if these features are important to you, make sure they’re included. Some accounts might also pay interest on credit balances or give you cashback.
  • International transactions. If you regularly carry out business overseas, look for a business account that charges low fees for doing so. Similarly, check whether your bank card charges for foreign transactions.
  • Customer support. Check how you can contact your chosen provider and whether customer support is available 24/7.
  • Eligibility. Before applying for a business account, make sure your business is eligible. Your business will usually need to be registered and trading in the UK, but some banks might also require that your business has been trading for a set time or has a minimum annual turnover.
  • Related financial services. If you think you might need a business loan or credit card in the future, check whether the provider offers these options.

What do I need to open a business bank account?

Many business bank accounts can be opened online. Otherwise you can pop into your local bank branch (if there is one). You will usually need to provide details about your business, including its registered address and contact details. If you’re a limited company, you’ll need to provide details of your company’s registration at Companies House.

Additionally, you will usually need to provide proof of ID for all company directors, such as a passport, as well as proof of address, such as a utility bill.

Business bank account fees explained

Unlike with most personal current accounts, many business accounts come with costs attached, which can range from a monthly fee simply for having the account, to a charge for paying in a cheque.

We outline the main types of business account costs below – bear these in mind when you’re looking at a bank’s pricing structure or an account’s terms and conditions:

Business bank accounts for the self-employed

Whether you are a freelancer or have a side hustle, it could be a good idea to create a separate bank account to manage your finances. It’s not a legal requirement, but you might find it easier to track your cash flow and calculate your end-of-year taxes.

There are lots of business bank accounts designed for the self-employed. Some are free, while others charge a monthly fee. You should also think about what services you might need. For example, do you want your account to link to accounting software such as QuickBooks and Zero, or do you need invoicing support?

Take a look at our guide on the best business bank accounts for the self-employed.

How can I apply for a business account?

Once you’ve researched and chosen which business account you’d like to go for, you’ll need to apply to that banking provider to open it. Many applications can now be done online or through a mobile app (especially given the growing number of digital-only accounts), although some banks with a branch network might ask you to visit in person.

Every business bank account will have a slightly different application process, but here is a general list of information and documents that you should have to hand:

  • Your business name and address
  • Your own personal details and contact information
  • A form of ID
  • Proof of address
  • Estimated business turnover
  • Personal banking/financial statements
  • Companies House registration number, if you’re a limited company

Not every banking provider will ask you for all of this documentation, and on the flip side, there may be some who request even more detailed information about your business and its finances.

Most business bank account providers will also carry out some kind of credit check on you, although there are a few that will let you open an account without one (but be aware these products tend to come with higher usage fees). For more information on opening a business account without a credit check, check out our guide to opening a business account with a bad credit score. You can also check your credit score here.

Business banks by customer satisfaction in 2024

Our customer satisfaction awards are decided by the only votes that really matter – yours. We asked customers of 13 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.

BrandLogoOverall satisfactionCustomers who’d recommendReview
RevolutRevolut logo★★★★★97%Revolut Business has been innovating and adding new features, and it apears this has paid off. It secured the top spot in this year’s survey with a score of 4.9 out of 5. Read our review
TSBTSB logo★★★★★97%TSB is currently offering an initial period of free business banking for 30 months to startups and account switchers. This and its services have proved popular with customers, scoring it 4.7 out of 5. Read our review
NatWestNatWest logo★★★★★97%It’s a competitive table again this year, so while NatWest also scored a “would recommend” of 97% and 4.3 out of 5, it placed third. Read our review
The Co-operative BankThe Co-operative Bank logo★★★★★97%The Co-operative Bank is known for its ethical business banking, and customers in our survey commended it on its reliable service. It scored 4.2 out of 5. Read our review
SantanderSantander logo★★★★★94%Santander operate a range of different business accounts, some of which come with discounted fees for startups or customers who are switching. It achieved a score of 4.2 out of 5 in our survey. Read our review
Lloyds BankLloyds Bank logo★★★★★93%Long-established Lloyds Bank recorded a score of 4.2 out of 5 in our survey. It offers business accounts for new and established businesses as well as one for clubs and charities. Read our review
TideTide logo★★★★★87%Tide is a digital-only business banking provider, and its customers highlighted its “top notch” customer service and ease of use. It scored 4.2 out of 5 in our survey. Read our review
BarclaysBarclays logo★★★★★94%Another high-street veteran Barclays posted an impressive 94% “would recommend” score and secured 3.9 out of 5 from its customers. The bank operates different business accounts depending on company size. Read our review
HSBCHSBC logo★★★★★94%HSBC the largest bank in the UK, posted a rating of 3.9 out of 5 in our survey. It now has HSBC Kinetic, which is an app-based business account with no monthly fee for the first 12 months. Read our review
CashplusCashplus logo★★★★★93%Cashplus scored 3.9 out of 5 in our survey and a “would recommend” score of 93%. Its business bank account is designed for small businesses and is FSCS protected. Read our review
RBSRoyal Bank of Scotland logo★★★★★90%Royal Bank of Scotland posted 3.8 out of 5 and a “would recommend” score of 90%. Its customers that we canvassed praised its “trustworthiness” and level of service. Read our review
MettleMettle logo★★★★★90%Mettle is a relative newcomer to business banking and is a digital-only offshoot from parent company NatWest. It scored 3.8 out of 5. Read our review
AnnaAnna logo★★★★★83%Anna is a digital-only business account which also comes with invoicing and expense management features. It scored 3.8 out of 5 in our survey. Read our review

Customer satisfaction scores 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 400 business banking customers was carried out in December 2023 – 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 rating, we used the “would recommend” percentage as a tie-breaker).

Business banking scores

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

Our customer satisfaction scores (“Customers say”) are based on a survey of 400 customers carried out in December 2023.

Finder whitepaper cover

Getting down to business: How banking is evolving to cater to SMEs in a new era

Finder published a paper in February 2022 exploring current trends, innovations and account switching within the business account sector. The report includes the findings of our survey of business account holders, and insights from experts at ANNA, the Federation of Small Businesses, Kent Business School, Savanta and Starling Bank.
Download your free copy

All the content may be republished with a link to this page
Press enquiries

Pros and cons of a business bank account

Pros

  • Can help you to keep personal and business finances separate, making it easier to file your tax return
  • You could benefit from perks such as accounting integrations or cashback
  • Some accounts enable you to carry out foreign transactions
  • It can help you build a business credit rating
  • If your money is held with a UK-authorised bank or building society, it will be protected under the Financial Services Compensation Scheme (FSCS)

Cons

  • You might have to pay monthly and/or transaction fees
  • Having a business account as well as a personal bank account means twice the banking admin
  • If your account comes with a prepaid card, this won’t be protected by the FSCS – it’ll be covered under e-money regulations instead

Bottom line

There are many reasons why it pays to open a business bank account. But when comparing them, it’s important to check the eligibility criteria carefully to be sure you qualify, and also check the fees so you don’t get caught out. On top of this, you’ll want to check what perks come with the account, such as invoicing tools or cashback, so that you can be confident of picking the best account for your business.

Frequently asked questions

Banking scores

★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor

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. Most of the data in Finder's comparison tables has the source: Moneyfacts Group PLC. In other cases, Finder has sourced data directly from providers.

Read more on this topic

Go to site