Compare business bank accounts in the UK 2024

Want to avoid fees? Integrate with accounting software? Compare business bank and e-money accounts to find the best.

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A good business bank account is essential for running your business effectively, whether you’re a sole trader or a large established firm. Here you can see which are the best free and paid-for accounts, and which are best for aspects such as online and app banking or invoicing. We also look at accounts that suit businesses of different sizes. We also have a guide on the best business bank account currently available.

Table: sorted by promoted deals first
1 - 19 of 106
Name Product Ratings Account fee Bank transfers Requires credit check Arranged overdraft Account management Key benefits Business bottom txt Link
Finder Award
OFFER
Revolut Business Free
Finder score
★★★★★
★★★★★
Free
5/month then 20p per transfer
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
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CASHBACK
ANNA Pay As You Go
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★★★★★
★★★★★
Free
Free
App
Earn 1% cashback for paying with your ANNA card in selected categories.
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OFFER
Business Account For Start Ups
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★★★★★
★★★★★
£8.50 per month
(no account fee for the first 12 months)
Free
(First 100 electronic payments out free per month; 20p thereafter)

Online, app & phone
Digital banking with no account fee for 12 months*. Free accounting software available to business account holders. T&Cs Apply
*After 12 months, there’s a monthly fee of £8.50. Some fees and transaction charges will apply as soon as the account is open. This offer only applies to the business’s first current account.
Free accounting software available to business account holders. You must be registered for Online for Business or Commercial Banking Online. UK based businesses only.
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Finder Award
EXCLUSIVE
Tide Free
Finder score
★★★★★
★★★★★
Free
£0.20
Free if both accounts are with Tide
Online & app
Get a £50 voucher when you open a Tide business bank account.
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OFFER
Monzo Business Lite
Finder score
★★★★★
★★★★★
Free
Free
Online & app
Get a free business account with no monthly fees.
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OFFER
Cashplus Business Go Bank Account
Finder score
★★★★★
★★★★★
Free
£0.30
Free for first 3 payments sent each month (£0.30 for every transfer thereafter)

By invitation
Online & app
No annual or monthly fee when you apply using the Finder link
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Business Account - Startups
Business Account - Startups
Not yet rated
£8.50 per month
(waived in first 12 months)
Free*

Subject to application, financial circumstances and borrowing history.
Branch, online, app & phone
No monthly account fee for the first 12 months, then £8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over £260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply.
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OFFER
Mettle by NatWest - Mobile business bank account
Finder score
★★★★★
★★★★★
Free
Free
Online & app
Get FreeAgent included - all you have to do is make at least one transaction a month from your Mettle account. If you don’t, or your account is closed and you continue to use FreeAgent then fees will apply.
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FREE TRIAL
HSBC Kinetic Current Account
Finder score
★★★★★
★★★★★
£6.50 per month (waived in first 12 months)
Free
Branch, online, app & phone
No monthly account fee for the first 12 months.
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Finder Award
FREE TRIAL
The Co-operative Bank Business Current Account
Finder score
★★★★★
★★★★★
Free
Free

On application (subject to status, eligibility and The Co-operative Bank's Lending policy)
Branch, online, app & phone
Free everyday digital business banking with the original ethical bank, plus access to the free ‘Go Get Paid’ app from BankiFi to help you get paid faster, rated 4.9 stars. Sole traders or Single Directors only. Charges apply for cash and cheque transactions. Apply online. T&Cs apply.
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Business account - Turnover up to 400k
Not yet rated
£8.50 per month
Free for EU digital transfers (SEPA)*

Subject to application, financial circumstances and borrowing history.
Branch, online, app & phone
No monthly account fee for the first 12 months, then £8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over £260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply.
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FREE TRIAL
Small Business Account
Finder score
★★★★★
★★★★★
£12.50 per month
(waived in first 3 months)
From £0.30
Online, app & phone
No monthly account fee for the first three months
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OFFER
Countingup Starter Business Account
Finder score
★★★★★
★★★★★
£3 per month
(waived in first 3 months)
£0.30
App
No monthly account fee for the first three months
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Business Account - £400k-£6.5m turnover
Finder score
★★★★★
★★★★★
£8.50 per month
(waived in first 12 months)
Free for EU digital transfers (SEPA)*

Subject to application, financial circumstances and borrowing history.
Branch, online, app & phone
No monthly account fee for the first 12 months, then £8.50 per month. T&Cs apply. Other charges apply. Free invoice and accounting software provided by FreshBooks, worth over £260 per year, with your Barclays business account. T&Cs apply. *Charges for other bank transfers and card payments apply. Visit here for more information.

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Revolut Business Scale
Finder score
★★★★★
★★★★★
£100 per month
1000/month free then 20p per transfer
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
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Revolut Business Grow
Finder score
★★★★★
★★★★★
£25 per month
100/month free then 20p per transfer
Online & app
Sign up today and unlock 1 month of a paid plan without subscription fees. T&Cs apply.
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Finder Award
OFFER
Tide Plus
Finder score
★★★★★
★★★★★
£9.99 per month
Free
20 free per month
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
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Tide Pro
Finder score
★★★★★
★★★★★
£18.99 per month
+ VAT
Free
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
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Finder Award
CASHBACK
Tide Cashback
Finder score
★★★★★
★★★★★
£49.99 per month
Free
150 free per month
Online & app
Get 3 months free with our code, FREEPLAN - Available for a limited time only.
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What is a business bank account?

A business bank account is simply a bank account designed for business transactions. Business bank accounts work in a similar way to personal bank accounts but can help businesses keep track of business income and expenses.

You can use your business bank account to send and receive money, helping you to pay staff wages and receive client payments, and you can set up standing orders and direct debits to pay your bills. Business bank accounts can also offer a range of additional features you won’t find with a personal account, such as the option to carry out transactions in foreign currencies or the ability to integrate with accounting software.

If you run a limited company, you will be required to use a business bank account. If you’re a sole trader, there’s no such requirement, but it can still make a lot of sense to open one and keep your business transactions separate from your own.

How do I compare business bank accounts?

When comparing business bank accounts, there are a number of factors you’ll need to consider:

  • Fees. Some business bank accounts will charge a monthly fee for using the account. Others will charge for everyday banking transactions. Some might even charge for both, so be sure to check carefully. In some instances, fees will be waived for the first year or so which can be useful if your business is just starting out.
  • Transaction limits. Some banks might limit how much money you can transfer in one transaction, so if you’re likely to be regularly transferring large sums, check if the limit is sufficient.
  • Overdraft facility. If you’d like to have an overdraft on your business bank account, look for an account that offers one and check how much interest it charges.
  • Account management. Consider whether you’re happy to manage your business account online or via an app, or whether you’d prefer to have a bank branch to pop into. You might need this if you need to pay cash into the account, for example.
  • Additional features. Some business bank accounts can integrate with accounting software or help you create invoices, so if these features are important to you, make sure they’re included. Some accounts might also pay interest on credit balances or give you cashback.
  • International transactions. If you regularly carry out business overseas, look for a business account that charges low fees for doing so. Similarly, check whether your bank card charges for foreign transactions.
  • Customer support. Check how you can contact your chosen provider and whether customer support is available 24/7.
  • Eligibility. Before applying for a business account, make sure your business is eligible. Your business will usually need to be registered and trading in the UK, but some banks might also require that your business has been trading for a set time or has a minimum annual turnover.
  • Related financial services. If you think you might need a business loan or credit card in the future, check whether the provider offers these options.

What do I need to open a business bank account?

Many business bank accounts can be opened online. Otherwise you can pop into your local bank branch (if there is one). You will usually need to provide details about your business, including its registered address and contact details. If you’re a limited company, you’ll need to provide details of your company’s registration at Companies House.

Additionally, you will usually need to provide proof of ID for all company directors, such as a passport, as well as proof of address, such as a utility bill.

Business bank account fees explained

Unlike with most personal current accounts, many business accounts come with costs attached, which can range from a monthly fee simply for having the account, to a charge for paying in a cheque.

We outline the main types of business account costs below – bear these in mind when you’re looking at a bank’s pricing structure or an account’s terms and conditions:

Business bank accounts for the self-employed

Whether you are a freelancer or have a side hustle, it could be a good idea to create a separate bank account to manage your finances. It’s not a legal requirement, but you might find it easier to track your cash flow and calculate your end-of-year taxes.

There are lots of business bank accounts designed for the self-employed. Some are free, while others charge a monthly fee. You should also think about what services you might need. For example, do you want your account to link to accounting software such as QuickBooks and Zero, or do you need invoicing support?

Take a look at our guide on the best business bank accounts for the self-employed.

How can I apply for a business account?

Once you’ve researched and chosen which business account you’d like to go for, you’ll need to apply to that banking provider to open it. Many applications can now be done online or through a mobile app (especially given the growing number of digital-only accounts), although some banks with a branch network might ask you to visit in person.

Every business bank account will have a slightly different application process, but here is a general list of information and documents that you should have to hand:

  • Your business name and address
  • Your own personal details and contact information
  • A form of ID
  • Proof of address
  • Estimated business turnover
  • Personal banking/financial statements
  • Companies House registration number, if you’re a limited company

Not every banking provider will ask you for all of this documentation, and on the flip side, there may be some who request even more detailed information about your business and its finances.

Most business bank account providers will also carry out some kind of credit check on you, although there are a few that will let you open an account without one (but be aware these products tend to come with higher usage fees). For more information on opening a business account without a credit check, check out our guide to opening a business account with a bad credit score. You can also check your credit score here.

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Getting down to business: How banking is evolving to cater to SMEs in a new era

Finder published a paper in February 2022 exploring current trends, innovations and account switching within the business account sector. The report includes the findings of our survey of business account holders, and insights from experts at ANNA, the Federation of Small Businesses, Kent Business School, Savanta and Starling Bank.
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Pros and cons of a business bank account

Pros

  • Can help you to keep personal and business finances separate, making it easier to file your tax return
  • You could benefit from perks such as accounting integrations or cashback
  • Some accounts enable you to carry out foreign transactions
  • It can help you build a business credit rating
  • If your money is held with a UK-authorised bank or building society, it will be protected under the Financial Services Compensation Scheme (FSCS)

Cons

  • You might have to pay monthly and/or transaction fees
  • Having a business account as well as a personal bank account means twice the banking admin
  • If your account comes with a prepaid card, this won’t be protected by the FSCS – it’ll be covered under e-money regulations instead

Bottom line

There are many reasons why it pays to open a business bank account. But when comparing them, it’s important to check the eligibility criteria carefully to be sure you qualify, and also check the fees so you don’t get caught out. On top of this, you’ll want to check what perks come with the account, such as invoicing tools or cashback, so that you can be confident of picking the best account for your business.

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.

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