Compare joint business bank accounts in the UK 2023

Some business bank accounts allow you to open an account together with someone else and other accounts allow you to add additional users once the account is up and running. Compare accounts below and learn the advantages and disadvantages of using a joint business bank account.

Compare joint business accounts

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Name	Product	Account fee	Bank transfers	Requires credit check	Accounting integrations	Arranged overdraft	Account management	Key benefits	Business bottom txt	Link
OFFER Mettle by NatWest - Mobile business bank account Account Mettle by NatWest - Mobile business bank account Account Finder Award	OFFER	Free	Free		FreeAgent, QuickBooks, Xero		Online & app	Save £150 a month with FreeAgent accounting software for free.	To get FreeAgent for free, you'll need to make at least one transaction a month from your Mettle account. A saving of £150 a year (based on FreeAgent's lowest tariff). Eligibility and conditions apply.	Go to site View details		loading Fetching your data...
FREE TRIAL HSBC Kinetic Current Account HSBC Kinetic Current Account	FREE TRIAL	£6.50 per month (waived in first 12 months)	Free		N/A		Branch, online, app & phone	No monthly account fee for the first 12 months.		Go to site View details		loading Fetching your data...
FREE TRIAL Business Plus Account Business Plus Account	FREE TRIAL	£5 per month (waived if balance stays in credit and averages over £10,000)	Free		FreeAgent, QuickBooks, Sage, Xero		Branch, online, app & phone	30 months of fee-free Business Banking when you switch to TSB.		Go to site View details		loading Fetching your data...
OFFER Cashplus Business Go Bank Account Cashplus Business Go Bank Account	OFFER	Free	£0.30 Free for first 3 payments sent each month (£0.30 for every transfer thereafter)		Clear Books, FreeAgent, KashFlow, QuickBooks, Sage, Xero	By invitation	Online & app	No annual or monthly fee when you apply using the Finder link		Go to site View details		loading Fetching your data...
FREE TRIAL Small Business Account Small Business Account	FREE TRIAL	£12.50 per month (waived in first 3 months)	From £0.30		FreeAgent, Sage, Wave, Xero		Online, app & phone	No monthly account fee for the first three months		Go to site View details		loading Fetching your data...
OFFER Countingup Starter Business Account Countingup Starter Business Account	OFFER	£3 per month (waived in first 3 months)	£0.30		N/A		App	No monthly account fee for the first three months		Go to site View details		loading Fetching your data...
OFFER Business Current Account Business Current Account Finder Award	OFFER	Free	Free		FreeAgent, QuickBooks, Xero	Up to £50,000 subject to eligibility and application	Online, app & phone	Add the new Business Toolkit onto your free Starling account, and get the first month free of charge (RRP £7pcm)		View details		loading Fetching your data...
Acorn Business Account Acorn Business Account		£12.50 per month	Free		N/A		Online, app & phone			View details		loading Fetching your data...
Business Current Account Business Current Account		£7.50 per month	Free		N/A	Up to £25,000 subject to eligibility and application	Online, app & phone			View details		loading Fetching your data...

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Latest reviews of joint business accounts

Starling Bank - Business Current Account

Finder rating

★★★★★

Customer rating

★★★★★

Read review

24/7 support

FSCS Protected

Spending analytics

• Why it’s great
• Pros/cons
• Details

Add the new Business Toolkit onto your free Starling account, and get the first month free of charge (RRP £7pcm).

This business bank account from Starling has no monthly fee and no UK payment charges. It's easy to apply for the account via the app and you'll benefit from free ATM withdrawals, no fees abroad, integration with accounting software such as QuickBooks, FreeAgent and Xero, automated business spending categorisation, receipt capture, and international payments. Your money will also be protected up to £85,000 under the Financial Services Compensation Scheme and you'll have free 24/7 UK support via the app, phone or email. Accounts can also be customised with add-ons, if you're happy to pay a monthly fee. This includes the Business Toolkit which helps you create and send invoices, calculate tax, record your VAT and submit your VAT return, a Euro business account for exchanging and holding euros, and a US dollar business account for holding, sending and receiving US dollars.

• Add the new Business Toolkit onto your free Starling account and get the first month free of charge (RRP £7pcm)
• Completely free UK current account opened and ready to use in 20 minutes
• Safe and secure
• Fully licensed by the FCA and PRA
• Free to use your card abroad including ATM withdrawals, splitting the bill made easy with "settle up" feature, competitive and comprehensible overdraft fees
• Decent interest rate paid on current account balances
• Efficient app offering a range of good features such as budgeting tools and saving features
• Has a marketplace offering competitive pensions
• Mortgages and insurance from other growing fintech companies
• Teen account options
• 24/7 customer support (for all types of enquiries)

• Relatively new so does not offer every feature, e.g. mortgages
• No bank branches, all done via the web
• Only available to UK residents

Account fee	N/A
Bank transfers	N/A
Accounting integrations	FreeAgent QuickBooks Xero
Requires credit check	N/A
Overdraft	N/A

CountingUp - Countingup Starter Business Account

Finder rating

★★★★★

Go to site Read review

Account opening in minutes

UK-based support team

Receipt capture

• Why it’s great
• Pros/cons
• Details

No monthly account fee for the first three months.

The CountingUp business account has built-in accounting software that automates bookkeeping and taxes, making it easier to run your business. You can open an account in a matter of minutes and your first 3 months of using the account are free of charge. After that, depending on how much you pay into your account, there are 3 different pricing plans available. This can change from month to month, so if your business has a quieter month, your fee may go down, but if you have a better month and lots of money is paid into your account, your fee will increase. All plans offer automated categorisation, instant notifications, receipt capture, invoicing and billing, profit and loss statistics, tax estimates and the option to share your finances with your accountant. Cash can be paid into the account via the Post Office or PayPoint.

• Automated business accounting
• Contactless card
• Apply in minutes

• Subscription fee applies after first three months
• Fee can fluctuate from month to month
• No interest paid on credit balances

Account fee	N/A
Bank transfers	N/A
Accounting integrations	N/A
Requires credit check	N/A
Overdraft	N/A

What is a joint business bank account and why open one?

This is a business bank account that more than one person can open and manage jointly. The maximum number of account holders is usually between 2 and 4, depending on the bank.

When you open a joint business account, all account holders will be able to make deposits, debit card transactions and withdraw cash at ATMs. They will also be able to set up direct debits and standing orders.

You’ll need all account holders to provide personal details when opening an account, and you may require permission from all of them to close it or switch to a new account.

It is far more convenient and cost-effective – for tax and accounting reasons – when all company funds are funnelled through one account, and that’s why most partnerships opt for a joint business bank account.

Can I open a business account that offers access to services for my employees?

Some business accounts allow you to grant a level of access to some employees, even if they aren’t an official account holder. This comes with its own set of risks though.

It might also be possible to order multiple debit cards or prepaid cards to be used on the same business account. Many business owners take this route instead, although think carefully about this, as you may be charged a one-off or even a monthly fee per card.

What do I need to open a joint business bank account?

To open a joint business bank account you’ll need to provide the following:

• Proof of ID for all account holders. For example, a passport or driving licence.
• Proof of address for all account holders. For example, a utility bill or bank statement.
• Your business details. Including your company’s registered address and contact details. If you’re a limited company, you’ll also need details of your company’s registration at Companies House and possibly your tax and VAT registration details. Some banks will also require a projected yearly turnover.

Can two business partners open a joint business account?

Yes they can. Setting up a business account together can make it much easier to manage your business finances and both partners will have equal access to the account.

However, it’s vital that you and your business partner trust each other. Because you will both have equal access to the money held in the account, one business partner could choose to withdraw all the funds without the other partner’s permission.

Keep in mind too that if you open a joint account, you and your partner will be financially linked. This means if one of you has a poor credit score, it could negatively affect the other partner’s score too.

Pros and cons

Alternatives to joint business accounts

Depending on your business needs, you could simply opt to open a standard business account with a single signatory. This way you could delegate all financial tasks like paying invoices, staff salaries and company tax payments to one individual. All banks that offer joint business accounts will also offer the ability to open a regular ‘sole’ business account.

If your business trades with customers in other currencies, like euros, then you may want to open a business account for making and receiving payments in that currency. This is a service that’s typically offered by the raft of newer digital challenger banks, like Starling. These accounts will usually charge a monthly account maintenance fee, so take some time to research the product’s terms and conditions before signing up.

If your business is a small side hustle and you haven’t registered a limited company for these activities, you could open a sole trader bank account.

Bottom line

If your business has multiple owners, it can make a lot of sense to open a joint business bank account. Most business bank account providers allow you to add multiple account holders, so there is plenty of choice available.

However, do your research first before choosing your account provider to be sure it’s the right account for your business. As with sole business accounts, fees and charges will vary between banks.

Frequently asked questions

• Are business accounts covered by the FSCS?

  If you open an account with a UK-authorised bank or building society, your money will be protected by the Financial Services Compensation Scheme (FSCS). This protection applies to the first £85,000 per person per financial institution, or £170,000 for joint accounts.
  Keep in mind that some digital-only providers do not offer FSCS protection. Instead, your money will be protected through safeguarding rules under the Electronic Money Regulations 2011.

• Can I get an overdraft with a joint business account?

  This will depend on the provider, but some business bank accounts do offer an overdraft, particularly if you have a good credit score. Keep in mind that if you’re opening the account with a partner, you’ll be equally liable for repaying the debt. Learn more about getting a business bank account with an overdraft.

• How easy is it to add someone to my existing business account?

  The criteria that needs to be met in order for a second or third person to be added to your business account will vary slightly between banks. But as a general rule, the person you wish to add will need to be registered with Companies House as a company director or “person of significant control”. Once this is done, adding that person as a signatory to the account should be relatively straight forward.

• Can I get a joint business account with bad credit?

  Your options will certainly be more limited if you have a poor credit score. But the good news is some providers will allow you to open an account without carrying out any form of credit check – though be aware these can come with higher usage fees and you won’t have access to an overdraft. If you’re opening an account with a partner who has a good credit score, this could improve your chances of getting accepted. But equally the financial link could drag the other person’s credit score down. Learn more about opening a business bank account with bad credit.

• How long does it take to open a business bank account?

  This will depend on the provider and the type of business you run. If you’re opening a business account with a digital-only bank, your account could be up and running in a matter of minutes. In other cases, it could take a few days, or even a few weeks if your business structure is more complex.

• Do I need a business account for a partnership?

  This largely depends on what type of partnership you form. To get technical for a second, if you form what’s known as a general partnership, then you don’t need a business bank account. A general partnership doesn’t need its own account, as it’s basically an agreement between two or more people (but which can also include a limited company as a “legal person”) to work together in business. If your general partnership owes money then both you and your partner(s) can be personally liable for those debts. If you form a limited partnership, then you will legally need a business bank account to manage the partnership’s finances separately .