Compare Business Bank Accounts

Compare the features, benefits & charges of all the business bank accounts available in the UK & find the best business current bank account for your company. Whether you want a free business current account or one that offers a flexible, low cost overdraft facility our dedicated business bank account comparison tables make it easy to find it.
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 Account FeeAnnual TurnoverAvailable toHeadline Interest Rate 
ChargedCharge PeriodMinimumMaximumLtd CompaniesPartnershipsSole TradersCharities
Lloyds Bank
Business Account for Start-ups
variesmonthly£0£15,000,0000%
18 months free day to day business banking subject to status (charges only apply after this period).
NatWest
Business Current Account
£6monthly£0Unlimited0%
Tel 0333 355 9425 0333 355 9425
2 years free banking available to new businesses operating for less than 12 months.
RBS
Business Current Account (Eng & Wales)
£3monthly£0Unlimited0%
Tel 0333 355 7919 0333 355 7919
Starting a business? Open a current account with RBS and benefit from two years free Business Banking.
RBS
Business Current Account (Scotland)
£0
---
£0Unlimited0%
Tel 0333 355 7919 0333 355 7919
Starting a business? Open a current account with RBS and benefit from two years free Business Banking.
Barclays
Start Up Business Account
£0
---
£0
---
0%
Free business banking for 12 months - T&Cs apply. No charge for standard transactions for 12 months (as part of initial free banking period) - T&Cs apply.
Cashplus
Business Current Account
£49annually
---
---
0%
Apply instantly online - no credit check, no paper forms and no interview required! The low cost alternative to High Street Banks.
Barclays
Business Current Account Standard Tariff
£6monthly£0
---
0.1%
Overdraft facility available up to £25k - T&Cs apply. 2% cashback on business loans over £10k - T&Cs apply.
Lloyds Bank
Business Account for Switchers
variesmonthly£0£15,000,0000%
6 months free day to day business banking subject to status (charges only apply after this period).
NatWest
Business Current Account for Switchers
£6Monthly£0£2,000,0000%
Tel 0333 920 8358 0333 920 8358
RBS
Business Current Account for Switchers
£3Monthly£0£2,000,0000%
Tel 0333 920 8439 0333 920 8439
Barclays
Switcher Business Current Account
£6monthly£0
---
0%
CardOneBanking
Small Business Account
£12.50monthly£0£2,000,0000%
Bank of Cyprus UK
 
Current Account
£12.50quarterly£0Unlimited0%
Bank of Ireland
Current Account
£8.50quarterly£0Unlimited0.01%
Bank of Scotland
 
Business Current Account (Bus Extra Tariff)
£5monthly£0£15,000,0000%
Bank of Scotland
 
Business Current Account (Electronic Bus Tariff)
£5monthly£0£15,000,0000%
Barclays
Community Account
£0
---
£0£100,0000%
Clydesdale Bank
Business Choice
£5monthly£0Unlimited0%
Clydesdale Bank
Business Current Account
£5monthly£0Unlimited0%
Clydesdale Bank
Business Choice - Charities
£5monthly£0Unlimited0.25%
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How to Choose the Best Business Bank Account

A good business bank account is a fundamental in the financial management of both new and established business. We offer some tips on how to make this choice easier and also better value.

Business Man Presenting Credit Card

Just as with all other financial products, when choosing a bank account for your business it is imperative to evaluate your company's specific needs, then compare business bank accounts to find the option that gives you the best value.

If your business is a limited or incorporated company you must have a business account.

If you are a sole trader or partnership it is still highly advised as it gives you a clear and transparent view of your finances.

Free Banking

Currently there are a number of banks that offer free business banking for up to 2 years - some do this just for start up businesses, and others for all businesses.

However, most banks charge an account fee for their business services after this ends so you'll need to do your research and also take the future into account even if you are only looking for a basic business bank account.

You can check our business account comparison to get an idea of the options the best business accounts offer.

Charges

Most banks will charge a monthly fee for their business banking services, others an annual fee, so look into this to make sure the service you're getting warrants this charge.

This monthly fee is sometimes dependent on the size and annual turnover of your company, and small business bank accounts will often attract a lower fee than those designed for larger corporations.

Others apply charges for cash withdrawals, BACs transfers, cheques (both cashing and issuing them) and foreign transactions.

Small charges can add up to run up the cost of current account businss banking so consider which facilities you'll need to use and then look at the prices the individual banks charge for each of these so that you're in a position to decide who offers the best deal for you.

Overdraft

An overdraft can be a useful addition to your business bank account as it will help to give you a little leeway on your in-credit balance, and provide a means of avoiding the expensive charges applied for bounced cheques and payments.

However, the cost of a business overdraft account can be significant so it's really important to look for a competitive rate of interest rate.

You'll find that overdraft interest rates and charges vary between banks, as do the overdraft limits on offer.

Look for the business account that offers the highest overdraft limit, with the lowest rate of interest for maximum flexibility for minimum cost.

Having as much leeway in this area as possible, will see you avoid paying significant charges. Also, be aware of the high charges that result in going over your overdraft limit and avoid this wherever possible.

Extras

Business accounts also often come with debit cards and cheque books for those eligible, so being aware of the criteria you need to meet if you want one before you can get an account can be a frustration saver.

These days, good online facilities are also an imperative for business banking. Online banking is faster, cheaper and time effective. A bank with a good reputation for online security is necessary to feel comfortable when banking online.

Happy business banking

If you do open a bank account and you end up feeling you’re not getting the service you require you can change accounts easily and within minutes – a huge improvement on the past.

So, compare business bank accounts and open the account you feel is the best fit and offers you the lowest cost and best service.

Current Account Comparison