Bank accounts come in all shapes and sizes, and some are likely to suit your business more than others. With so many business bank accounts to choose from, how do you pick 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, cashback and more to help you choose the one that will suit you best and give you the features you want. We also have a guide on prepaid business cards if you’re a business owner looking for the best way to allow your employees to pay for expenses as part of their work.
The best business bank & e-money accounts in the UK for 2024, by category
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 Basic 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. If you're a sole trader or a freelancer, you can't get this account but you can apply for Revolut Pro.
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
Basic account does not include many free transactions
Only incorporated companies are eligible
All ATM withdrawals incur a charge
Can't deposit cash or cheques into your account
Not yet a fully fledged bank
Direct debits only available for EUR accounts
Accounting integrations
FreeAgent Xero
Best business bank account for bad credit
Best business bank account for bad credit: Zempler
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 Zempler, 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 minutes
"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
Get a £50 voucher when you open a Tide business bank account.
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
Accounting integrations
Clear Books FreeAgent KashFlow QuickBooks Reckon One Sage Xero
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
Accounting integrations
FreeAgent QuickBooks Xero
Best business bank account for app and online banking
Best business bank account for app and online banking: Mettle
Get FreeAgent included - all you have to do is make at least one transaction a month from your Mettle account.
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
Accounting integrations
FreeAgent QuickBooks Xero
Best business bank account for invoice service
Best business bank account for invoice service: ANNA Money
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.
24/7 support
Fast set-up
Invoice and expense services within the app
Ability to connect other provider accounts to the ANNA app through Open banking
No credit or overdrafts available
Still require a traditional bank account for majority of your business financial needs
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.
FSCS protected.
No branches.
Charge to deposit cash.
Accounting software only available with Pro account.
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
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
Accounting integrations
FreeAgent QuickBooks Sage Xero
How did we rate our business bank accounts?
Finder money expert Kate Anderson shares our research
To come up with our Finder ratings and picks for the best business bank accounts in the UK, our team looked at the free or cheapest version of a provider’s business account range and scored them across 7 key areas.
We looked at their app scores in the Google Play Store and the App Store, their monthly fees, their transaction fees for things like ATM withdrawals or cash deposits, their customer satisfaction scores, the number of accounting software integrations they have available, their payment features and their extra features like additional employee cards or tax calculators.
We scored each category out of 5. For example, a business bank account with all the payment features listed in our criteria would score 5 out of 5. To calculate our Finder rating, we averaged all these scores and rounded them to the nearest half-star.
You’ll also see accounts we picked as being outstanding in certain categories, such as the best business bank account for bad credit or the best business bank account for accounting integrations. What you want from a business banking account is down to you, so these picks are just a steer to help you choose.
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.
Our expert says: The best business bank account for you
"There’s 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, it’s worth considering Revolut Business. It doesn’t charge a monthly or annual fee for its Basic plan and allows you to create and manage invoices. You can also hold and exchange over 25 different currencies fee-free. However, this won’t work for you if you’re a freelancer or sole trader as your business has to be incorporated to be eligible (Revolut Pro is for freelancers and sole traders).
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 Zempler, 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 2024
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.
Brand
Logo
Overall satisfaction
Customers who’d recommend
Review
Revolut
★★★★★
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.
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.
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.
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.
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.
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.
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.
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.
Zempler 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.
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.
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.
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.
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.
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.
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.
Generally not. Some banks might allow it if you're a sole trader, though it's usually a good idea to separate your personal and business finances. If you own a limited company, you will have to use a business bank account. Check your terms and conditions before doing it. You can learn about the benefits of opening a business account.
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.
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.
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.
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.
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 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 ratings score, 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.
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.
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.
Kate Steere is an editor at Finder, specialising in fintech, banking and cryptocurrency. She has previously written for The Motley Fool UK and Fitch Solutions, where she covered a wide range of personal finance topics and kept a close eye on market trends. Kate has a Bachelor of Arts in Modern History from the University of East Anglia. When not working, she can usually be found curled up with a good book or heading out for a run. See full bio
Kate's expertise
Kate has written 179 Finder guides across topics including:
By switching your business bank account, you may be able to reduce your monthly fees or take advantage of different features like smart bookkeeping tools.
Is Pleo’s app-only expenses solution right for your business? We take a closer look at all of the features of a Pleo account.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser Disclosure
finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which finder.com receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. finder.com compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
