Open an account with Tide
- Free business Mastercard
- No foreign transaction fees
- In-app support
- Invoice directly from your Tide app
Separating your business and personal banking is a necessity for any company, but finding a business account that gives you good value for money isn’t easy.
Browse our reviews to find your way around business banking and get the right deal for your business. No matter how big or small your company is, we’ve got you covered.
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 more or less 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, 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:
Control your finances with one app
Click the button and get to know more about N26 business account designed especially for individual businesses. Don't wait, apply for it now!
Get a business account and debit card from £5 a month
Click the button and check out what Anna Money offers you when you decide to apply for a business account. Start your 3-month trial now!
Transfer your money abroad easily with Revolut
Click this button and get to know more about Revolut business account. Open your account and transfer your money with no fees and no waiting
Open your Starling business account for free
Click this button and find out more about setting up a business account with Starling. Download the app and start running your account for free.
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:
Like most things in banking, there’s no silver bullet. Each account will differ slightly to the next, and it’s only by comparing them that the best option can be worked out. That said, a survey carried out in 2018 by consumer insight consultancy BVA BDRC for the Competition and Markets Authority (CMA) looked at how likely 20,000 small business banking customers were to recommend their account. The top five banks for overall service quality were Swedish bank Handelsbanken, Metro Bank, Santander, Lloyds and Barclays. Not far behind them were Yorkshire Bank, Bank of Scotland and NatWest.
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:
Get N26, the new bank you'll love to use
Manage everything directly in the N26 app. Set payment limits, change your PIN and lock and unlock your card. All in real time.
Free card worth £5 from Revolut
Click the button and enter your number to receive a free Revolut card.
Starling voted best British bank and current account
No branches, no fees, no paperwork. Get a smarter kind of bank account with the Best British Bank 2018 – all in under 3 minutes!
Download the Monese app and get your free card
Click the button to head to the app store and download the app, then your Monese card will be sent in the post.
We review every digital bank, app and challenger. Our reviews are regularly updated to cover new features and releases.
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