Yorkshire Bank business accounts

Choose between a few business account options and see if you qualify for two years of free banking.

Updated

Fact checked
Yorkshire Bank
Promoted
Tide

Try Tide as an alternative

  • Award-winning, smart, simple business account
  • The hassle-free account for your business
  • Get your sort code and account number in minutes
With a widespread network of branches that are equipped to deal with your business queries and a full range of business banking products, Yorkshire Bank is great if you like banking in person and being fully supported throughout your journey.

What types of business accounts does Yorkshire Bank offer?

If you run a small business, you can choose between two types of business current accounts:

  • Standard account. You can get 25 months of free business banking with this account if you are a startup or are switching your existing business account to Yorkshire Bank.
  • Business Choice Account. There’s no free banking option here, but you can choose to have interest paid on your balance instead, although it’s not a lot.

Yorkshire Bank also offers bespoke banking services to bigger businesses (commercial banking). You’ll have to get in touch with the bank to see what it can offer you.

Yorkshire Bank business accounts charges

If you qualify for the free banking offer, your bank account won’t cost you a single penny – at least for the first couple of years. However, if you don’t, or once the introductory offer is over, you should expect a few different fees:

  • Monthly fee. This is a fixed fee that is charged every month no matter how much you use the account.
  • Account transaction fees. Fees apply for most transactions made from and to the account, such as direct debits and cash deposits.
  • Foreign transaction fees. If you use the debit card abroad, either to make a card payment or to withdraw cash from an ATM, you’ll be charged a fee (the amount will be a percentage of your transaction).

You can see the full list of charges on Yorkshire Bank’s business tariff page.

The benefits of a Yorkshire Bank business account

  • Free introductory offer. If you qualify, there will be no monthly fees or transaction fees for 25 months. There’s a yearly limit of £250,000 paid in, paid out or exchanged though. Also, remember to set an alarm on your calendar for when the offer expires.
  • Multiple ways to bank. Yorkshire Bank’s strong point is the ability to bank in person, but the online banking and the mobile app also do the job with grace.
  • A wide range of related financial products available. Yorkshire Bank also offers various savings accounts and borrowing facilities.
  • Interest on your balance. If you don’t qualify for the free banking option, you can earn interest on your balance. It’s far from stellar, but it’s an uncommon feature for business accounts.
  • International banking solutions available. If you trade overseas, a standard business account won’t cut it, but Yorkshire Bank has a dedicated international section that should be able to help.
  • Dedicated customer service. Business banking helplines are open weekdays during working hours, and self-service telephone banking is available 24/7.
  • Accounting software integration. You can connect to accounting software, such as Xero, QuickBooks and FreeAgent.

How to apply for a Yorkshire Bank business account

You can apply online or in branch. Yorkshire Bank says the online application should take around 15 minutes.

Here’s a basic list of the information and documents you’ll need:

  • Your personal details, proof of identity and proof of address
  • Three years of address history
  • Details of any other director of your business
  • Your business’s details, including proof of address
  • Business registration number
  • Date and certificate of incorporation
  • Business turnover and tax information
  • Previous banking details if you have them/are looking to switch

How to compare business accounts

  • Cost. Free business banking isn’t exactly easy to find and business current accounts tend to have complicated pricing structures, so it’s pivotal that you think about how many transactions a month you make and in which form (card payment, cash withdrawal or bank transfer) to figure out the overall yearly cost of the accounts you’re comparing.
  • Type of business. You want something that matches your specific needs, especially if you operate in a specific sector such as, say, agriculture.
  • Cash. If you take a lot of cash payments and need to load cash into your account, you’ll want to make sure that you have a bank branch nearby.
  • Ways to bank. Do you prefer banking in person, on the phone, online or via mobile app? Many banks will offer all of these options, but some won’t. And in many cases, the quality of the service may not be equally good. It’s worth doing a bit of research before applying.
  • Travelling/trading abroad. It will be expensive with a standard account, so if you do it often, you’ll want to find a dedicated deal.
  • Accepting payments. Do you need to set up card payment terminals as well as a business account?
  • Accounting software integration. If you’re managing a small business, being able to do banking and accounting from the same place makes things much easier.
  • Related products. If you need a savings account, insurance or help with financing your business, check to see which banks offer all these services.

Pros and cons of a Yorkshire Bank business account

Pros

  • Branch network if you prefer to bank in person.
  • 25 months’ free business banking.
  • You can connect to accounting software.
  • Other financial services available, such as borrowing.

Cons

  • Once the free banking period ends you’ll need to pay a monthly fee.
  • If you travel or trade internationally, other business accounts might be better for you.

Our verdict

Yorkshire Bank business accounts are a solid choice if you’re looking for a bank with a branch network and one that offers a full range of financial products, such as business loans. The 25 months’ free day-to-day banking is an appealing offer, although you’ll have to decide it you want to keep the account after this introductory period ends. If you trade overseas or travel extensively, there might be more suitable accounts out there for you.

Compare business bank accounts

Data indicated here is updated regularly
Name Product Account fee Bank transfers Accounting integrations Non-Sterling transactions Overdraft Account management Key benefits
Tide
Free
£0.20
Free if both accounts are with Tide
Xero, QuickBooks, FreeAgent, ReckonOne, Kashflow and Sage
Free
App
Free company registration when you open a Tide business account (usually £12)
Amaiz
£9.99 per month
Free in first month
Free Starter plan available
£0.20
FreeAgent, Xero, Sage, Reckon One, Kashflow, QuickBooks
1%
0.5% in Europe, 1% elsewhere
App, Online
Cashplus business
£69
£0.99
Free transfers in first 3 months
FreeAgent, Xero
2.99%

On invitation
App, Online
First Year's Annual Fee Refunded
ANNA
Free
Free up to a max. balance of £5,000 (or up to £500 paid in per month)
Free
2 free transfers per month and unlimited free transfers to Anna accounts
Coming soon
Free
App
Earn 1% cashback for paying with your ANNA card in selected categories. Enjoy premium benefits free for the first 6 months.
loading

Compare up to 4 providers

Frequently asked questions

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.

More guides on Finder

  • Opening a bank account for a club

    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.

  • How to open a bank account without ID in the UK

    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.

  • Ethical bank accounts

    How can you make sure that your money is not being use to support companies that are unethical or harm the environment? You can choose an ethical bank.

  • Opening a bank account after bankruptcy

    A bankruptcy will impact all aspects of your financial life, including your bank account. But you should be able to open a new one to at least meet your basic banking needs.

  • PayPal and your debit card

    Linking your debit and credit card to your PayPal account can save you time when shopping online. Here’s how.

  • Opening a second bank account

    Discover whether it’s possible for you to open a second bank account, plus the pros and cons of doing so.

  • Best bank accounts

    Discover how to find the best bank account for your needs.

  • How does life insurance work?

    Find out how life insurance works and what policy is right for you.

  • Guaranteed business bank accounts

    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.

  • Business bank accounts for discharged bankrupts

    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.

Go to site