Finder expert rating
TSB offers one type of business account, called Business Plus.
One of the biggest draws of this account is that it provides free business banking for the first 25 months of use.
After this free period, you’ll be transferred onto a standard tariff, which includes a £5 monthly fee. But it’s worth noting that if your business account balance averages above £10,000 over the course of a month, you won’t be charged the £5 fee for that month.
On the standard tariff there are also some small charges for cheques (70p for each cheque paid into or out of the account) and cash (70p per £100 paid in, out or exchanged). But direct debits, other electronic payments and ATM withdrawals are all still free.
You can make international payments from the Business Plus account, but it doesn’t really have any other international banking services or offer a linked euro or dollar account.
The business debit card is operated by Visa, so it can be used by cardholders to make payments anywhere in the world that Visa is accepted.
Although it’s a high street bank, TSB only offers the one business account, but it is a pretty decent option. The 25-month free banking period is one of the longest out there, and even after that the fees are reasonable compared to the wider market. You can bank online, by mobile or in-branch, and have the option of a free Square Reader to take customer payments. There’s not much in the way of reporting or invoicing tools, like you get with some of the digital-only business accounts, but you can link up to software such as Xero and QuickBooks.
0345 835 3858 – lines are open Monday to Friday 8am to 6pm and Saturday 9am to 2pm.
Website live chat:
The automated chat service is available 24/7, then the live chat is staffed by customer support advisers from 9am to 4:30pm on Monday to Friday (excluding bank holidays).
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
Opening a current account for your club, community organisation, sporting society or charity can take a bit of time, but is a fundamental step in setting up your organisation. This guide covers the basics you need to get started.
While it’s impossible to open a bank account without proving your identity, banks accept a range of documents as ID; so even if you don’t have a passport or a driving licence, you should be able to get one. Here’s how to go about it.
Discover how to find the best bank account for your needs.
If your credit score is less than ideal, you might be worried about being refused for a business account application. But there are business accounts with no credit checks, sometimes referred to as “guaranteed”, that can offer a solution.
It can be hard to get accepted for a business account after bankruptcy, even once you have been discharged. But some banks do offer business bank accounts without credit checks and will allow you to open an account.
While it may look like additional admin work, opening a separate business account is actually likely to make your work life easier and more organised. Here are the pros and cons.
Need a bank account for your business but unsure of where to start? This guide covers all the basics, from why it’s a good idea to open one to the documents you will need.
Started up your own business and want to know more about opening a bank account? We take a look at what’s involved.
If you’re a small business owner, here’s what you need to know about opening a business bank account.
Find out if it’s possible to open a business account on the same day you apply, as well as what documentation you’d need to do it.
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.