In this guide

  • Our verdict
  • Details
    • Product overview
  • Frequently asked questions
  • Your reviews

Fire business account review

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Our verdict

Find out how the Fire business account works and whether it could be the right option for you.

If you're looking for a business account that allows you to transact in both sterling and euros, the Fire business account is well worth exploring. However, it's important to factor in the overall costs of the account and compare this to what else is out there before deciding.

Keep in mind that while the £100 fee for an additional account might seem high, this is a one-off cost that works out to be around £8 a month for the first year. After this, there is no further cost.

Get started by visiting Fire's website and sign up for an account. If you have read this review and decided that Fire's account is not for you, you can also compare other business accounts on the market.


  • No monthly account fee or set-up costs.
  • Offers both Sterling and Euro accounts.
  • Debit card links to both Sterling and Euro accounts, allowing you to spend in both currencies.
  • Compatible with online accounting packages.
  • Get paid directly from customer accounts via Open Banking.


  • Additional accounts cost £50.
  • Direct debits cannot be set up on the Euro account.
  • Cannot pay in cash or cheques.
  • No protection under Financial Services Compensation Scheme.
  • Fees apply for most transactions.

In this guide

  • Our verdict
  • Details
    • Product overview
  • Frequently asked questions
  • Your reviews


Product overview

Account fee £0

Founded in 2009, Fire provides digital accounts and debit cards to business customers across the UK and the Republic of Ireland. Applications can be made online and there are no monthly fees or set-up costs. Read our review below to find out more.

What types of business accounts are on offer?

The Fire Business Account comes with a Euro and Sterling account as standard. Customers can open as many accounts as they need, with each account having its own sort code and account number for Sterling accounts or IBAN for Euro accounts.

Below is an overview of the main account features:

  • Bank transfers. Pay and get paid by bank transfers to and from any bank account in the UK or Eurozone. If you’re selling in sterling and euros, manage payments in both currencies. Bank transfers are supported via Faster Payments, Bacs and SEPA.
  • Debit cards. Order as many cards as you need (at a cost) and link your debit cards to any of your Fire accounts. Use your card to pay in-store, shop online or withdraw cash. Pay from your Sterling account in sterling and from your Euro account in euros, avoiding unnecessary bank fees.
  • Foreign exchange transfers. Transfer funds instantly between your Euro and Sterling accounts at any time. The foreign exchange rate and fee will be displayed before you carry out your transaction.
  • Direct debits. Set up direct debits from your Sterling account (not currently available on Euro accounts). Notifications will be sent the day before a direct debit payment is due, so you can top up your account if needed.
  • Open banking. With Fire Open Payments, customers can pay you directly from their accounts in euros or sterling. Open Payment requests can be created in the account or via Fire’s API, and shared using a URL or QR code.
  • Fire API. Fire’s Application Programming Interface (API) allows businesses to integrate internal business systems or applications directly from their accounts.
  • Accounting compatibility. Fire provides statements that are compatible with online accounting packages so that you can download account statements in OFX format and import into Xero, FreeAgent, Quickbooks and so on.

What fees are there?

Although there are no account fees or set-up costs for your first account, you will need to pay fees for the following:

Bank transfer out£0.29 / €0.29
Bank transfer in£0.29 / €0.29
1% for transfers under £29 / €29. Minimum fee: £0.10 / €0.10
Direct debits£0.29
Open Banking20p / 20c + 0.2% of the value of the request
Foreign exchange transfer1%
Minimum fee: £1.25 / €1.25
Additional accounts (euro or sterling)£50 / €50 (one-off fee)
Debit card feesNo charge to issue the first card.
Subsequent cards: €10 / £10 per card (one-off)
£0.29 / €0.29 per chip and pin/contactless/online
£2.50 / €2.50 per ATM withdrawal*
2% international fee (non-euro and sterling) in addition to fees above

*Irish customers are also charged Irish Government Stamp Duty of 12c per ATM withdrawal (to a maximum of €5 per year).

How to apply

To apply for a Fire business account you will need to be a business incorporated in the UK or Ireland. Directors and owners must be residents and/or citizens of the EU (other countries available on request). Applications are also accepted from sole traders based in the UK or Ireland.

To apply, you will need to register your interest on the Fire website, and once approved you will need to provide details about your business, its directors and owners.

Is it safe?

Fire is an Electronic Money Institution in the UK and a Payment Institution in Ireland. As such, it must safeguard customers’ funds by placing them in a designated account with a regulated financial institution. Should Fire cease trading, the safeguarding account is protected from other creditors making a claim against Fire, allowing customers to get the majority of their money back.

Any funds Fire holds will not be protected by the Financial Services Compensation Scheme.

Customer service information for Fire

Email support
Telephone support
In-app or live chat
Contact form
Branch support

Fire customer reviews

Fire currently has a “Great” rating on customer review site Trustpilot, with a score of 4 out of 5 from more than 200 reviews (updated January 2024).

Those customers who gave Fire a positive review commented on the “clarity of the online banking site and excellent customer service”. Many stated the app is easy to use and commented on the strong security measures.

However, some reviewers weren’t quite so full of praise, stating they had had problems with their accounts being blocked.

On the App Store, Fire for Business has a rating of 4 out of 5 from just 8 reviews (updated January 2024). There are currently no customer reviews on Google Play.

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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