RBS business bank account comparison and review

Looking for a new business bank account? Find out what RBS has to offer and whether its accounts could be right for you.

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.

Compare RBS’s business accounts

Name Product UKFSA-CUR Account fee Bank transfers Requires credit check Arranged overdraft Accounting integrations Account management Key benefits Business bottom txt Link
Business Account
Free
£0.35
FreeAgent
Branch, online, app & phone
View details
Community Account - Turnover £100K and over - standard tariff
Free
£0.35
FreeAgent
Branch, online, app & phone
View details
Start Up Bank
Free
£0.35
FreeAgent
Branch, online, app & phone
View details
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1 - 4 of 4
Name Product UKFSA-SAV Interest rate and type Interest paid Invest Term Open via Incentive Table product description Apply link
Royal Bank of Scotland – Liquidity Manager 95 Day Notice Account
3.75% AER p.a. variable
Monthly
From £1
95 days notice
Open via: branch, website, telephone
Early withdrawals from Liquidity Manager Notice Accounts are not permitted.
Go to site
View details
Royal Bank of Scotland – Liquidity Manager 35 Day Notice
3.25% AER p.a. variable
Monthly
From £1
35 days notice
Open via: branch, website, telephone
Early withdrawals from Liquidity Manager Notice Accounts are not permitted.
Go to site
View details
Royal Bank of Scotland – Client Deposit Manager
1.46% AER p.a. variable
Quarterly
£1 - £999,999
Instant access
Open via: branch, telephone
Go to site
View details
Royal Bank of Scotland – Business Reserve
1.46% AER p.a. variable
Monthly
£1 - £999,999
Instant access
Open via: branch, website, telephone
Go to site
View details
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What types of business accounts are on offer?

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

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.
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Written by

Writer

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

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Co-written by

Writer

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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