By choosing a business bank account from RBS, you’ll be able to take advantage of free online accounting software and 24/7 digital banking and phone banking. New businesses and charities can also enjoy fee-free banking. Let’s find out more.
Depending on the type of business you run and how long it has been operating you can choose from 3 different business accounts:
Startup account. For businesses that have been trading less than a year and have turnover of less than £1 million. There are no transaction fees for the first 24 months and you’ll have access to business support and networking events.
Business account. For established businesses that have been trading for over a year. You’ll have access to a dedicated relationship manager and specialised programmes to grow your business. There’s no minimum monthly charge – you just pay for what you use.
Community account. For not-for-profit organisations such as charities or clubs. Free banking if your annual turnover is less than £100,000.
How to apply
It’s easy and straightforward to apply for a business account on the RBS website. You’ll need to be aged 18 or over, and be the owner or director of the business you’re applying on behalf of.
Information and documents required include:
Your personal details, proof of ID and proof of address.
3 years of address history.
Details of all the partners, members or directors of the business, including their home addresses for the past 3 years.
Business details, including your turnover and tax information and your company’s Registration Number if you’re a limited company.
Pros and cons of RBS business accounts
Pros
Fees are waived for the first 2 years if you’re a startup, while charities can benefit from fee-free transactions if they earn less than £100,000 a year.
No monthly minimum fees – you’ll only be charged for what you use.
Access to free online accounting software.
Option to apply for an overdraft facility and business credit card.
Access to online and mobile banking.
Cons
If you don’t qualify for fee-free transactions, everyday banking can become expensive.
Interest is not paid on in-credit balances.
Customer service information for RBS
Email support
Telephone support
In-app or live chat
Contact form
Branch support
RBS business accounts customer reviews
In our independent 2024 customer satisfaction survey, 90% of RBS users said they’d recommend the brand to a friend. Customers highlighted the bank’s great customer service and competitive rates. Here’s what some of those RBS customers had to say:
“They have excellent customer service and fix any issues I’ve had quickly”
“Professional, accessible, good customer service, great web facilities”
“They have good business rates and the customer service is excellent, I cannot fault them.”
On the Apple App Store, RBS scored 4.8 out of 5 based on over 105,000 reviews. On the Google Play Store, RBS has scored 4.3 out of 5 based on over 80,000 reviews (February 2024).
Our verdict
If you’re after a well-known high-street brand, with the option of banking online and by phone, an RBS business account could be right for you.
If you’re a new business, the startup account offers some much-needed breathing space by waiving banking fees for the first 2 years. Charities can also benefit from fee-free banking, providing they don’t earn more than £100,000 a year.
However, if you don’t qualify for free banking, fees can quickly rack up, so it’s worth comparing what other business bank accounts are available before making your decision.
Frequently asked questions
You will need to be at least 18 years old and the owner or director of the business. Your registered business address must be in the UK, Channel Islands, Isle of Man or Gibraltar or you should be registered for tax purposes in 1 of those jurisdictions. You must also not have been declared bankrupt or received a County Court Judgment or Court Decree.
No, you won't earn interest on your business account balance.
You can manage your account online, via your mobile or by phone – telephone lines are open 24/7, 365 days a year.
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.
Rachel Wait is a freelance journalist and has been writing about personal finance for more than a decade, covering everything from insurance to mortgages. She has written for a range of personal finance websites and national newspapers, including The Observer, The Mail on Sunday, The Sun and the Evening Standard. Rachel is a keen baker in her spare time. See full bio
Nick Renaud-Komiya has been a writer and reporter for nine years, covering a range of consumer issues from energy suppliers to banking and mortgage issues. He enjoys helping people take control of their personal finances and better understand their consumer rights. Nick’s consumer writing and money journalism has been featured in a range of outlets including MoneySavingExpert.com, The Sunday Mirror, The Independent and Money.co.uk. Outside of work Nick enjoys cooking and collecting old David Bowie merch. See full bio
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