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
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.