Compare the best business bank accounts
Side hustle taking up most of your time? Tax returns a pain? Then join the hundreds of thousands of other business owners and get a business bank account now.
Tide Business Bank Account
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- Fast and easy account setup - open an account within minutes which saves time and gets your business up and running quickly
- No monthly fees - only pay for what you need, then upgrade as your business grows
- Expense management and invoice tools - you can easily track your business expenses and create invoices in the app for faster invoicing
- Access a competitive savings account - get more for your money by earning up to 4% AER (variable) with the Tide Instant Saver and access funds at any time
| Availability | Limited companies & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Tide Business and Savings Account
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- Easy account set up – open both a Tide Business Bank Account and Tide Instant Saver to get £200 cashback (T&Cs apply)
- Make your money work harder – earn up to 4% AER (variable) with no cap on deposits and instant access to your savings
- Only pay for what you need – no monthly fees on your business account
- Manage your money from anywhere – track expenses, create invoices, and oversee finances easily in the Tide app
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Virgin Money M Account for Business
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- No monthly fees – manage your business finances without any hidden charges, helping you keep banking costs low
- 0.25% cashback on debit card purchases – reward your everyday spending and reinvest savings back into your business
- Seamless integration with QuickBooks, Xero, and Sage – automate accounting tasks and streamline your bookkeeping process
- Expert mentoring from Virgin Startup – access tailored guidance and insights to help your business grow successfully
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £1,000,000 |
| UK Resident |
Monzo Business Lite Account
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- Free UK bank transfers - these fees can add up quickly, so it helps to keep costs down
- 24/7 customer support - if you have any issues there’s a team ready to help which means you can focus on running your business
- Money management - separate money with Pots, receive payments through a single link and effortless accounting via receipt uploads to support your business
- Unlock interest - earn 1.40% AER (variable) on funds in your Instant Access Pots and interest is paid monthly so you can easily see your money grow
| Availability | Limited companies & sole traders |
| UK Resident |
Virgin Money Business Current Account
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- Created for you - this account is for start-ups, sole traders and limited companies with an annual turnover of less than £6.5m
- Integration with Sage, Xero and Quickbooks - helps to streamline accounting and reduces human error, plus there’s automated business spending categorisation
- No fees - 25 months’ fee-free day-to-day banking for start-ups and switchers which helps to reduce costs (excludes CHAPS and international payments)
- Expert mentoring and guidance from Virgin Startup - access a supportive community and special events to help your business scale
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £6,500,000 |
| UK Resident |
Revolut Business Basic Account
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- Not covered by the FSCS - Revolut is an electronic money institution and not a bank
- Issue physical and virtual cards – manage cards for you and your team to control spending and improve security
- Account integrations with Clear Books, FreeAgent, QuickBooks, Sage and Xero - helps to streamline accounting and reduces human error
- Hold and exchange 25+ currencies with multi-currency wallets and smart debit cards - useful if you’re involved in international trade or working with global clients
| Availability | Limited companies & partnerships |
| Max. annual turnover | Unlimited |
| UK Resident |
Countingup Business Account
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- Free 3-month trial - start with no subscription fees and explore all the features before committing
- Built-in accounting software - automate bookkeeping, tax estimates, and gain real-time insights into your finances
- Unlimited invoicing - create and send professional invoices for free, with alerts when payments are received
- Trusted by over 60,000 businesses - enjoy UK-based support and seamless data sharing with your accountant
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Card One Money Small Business Account
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- Card One Money is an FCA-authorised payment institution, not a bank. Funds are safeguarded in segregated accounts but are not protected by the FSCS
- No account fees for 3 months, then £12.50 per month - cost-effective for businesses looking to save on account fees
- Manage and receive international transactions - valuable if you deal with global clients or if you want to expand internationally, enabling smooth cross-border transactions
- App, online, and phone account management - gives convenient access to your account anytime, anywhere
| Availability | Limited companies, partnerships & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Barclays Switchers Business Account for turnover up to £400,000
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- No monthly account fee for 12 months - save on banking costs during your crucial first year in business. After 12 months, an £8.50 per month fee applies.
- Access over £5,000 in partner discounts – unlock valuable tools and services to support and grow your business
- Flexible account management – manage your finances anytime via app, branch, online, or phone.
- FSCS protection up to £85,000 – keep your money safe with financial protection for eligible deposits
| Availability | Limited companies, partnerships, sole traders & charities |
| Max. annual turnover | £400,000 |
| UK Resident |
Zempler Bank Business Account
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- No account fee - keep costs low with a free business bank account
- Easy application - you can apply for this account in minutes and then use the online banking app when you’re approved
- UK customer support - pick up the phone and chat to someone if you have any issues, so you can get back to running your business as soon as possible
- Cashflow tracking, integrated accounting and instant payment notifications - these extra features can help you to run your business effectively
| Availability | Limited companies, partnerships, sole traders & charities |
| Registration | Business registered & trading in UK |
| Maximum balance | £500,000 |
| Max. annual turnover | Unlimited |
| UK Resident |
Barclays Start-up Business Account
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- No monthly account fee for 12 months – save on banking costs during your crucial first year in business. After 12 months, a £8.50 monthly fee applies
- Access over £5,000 in partner discounts – unlock valuable tools and services to support and grow your business
- Flexible account management – manage your finances anytime via app, branch, online, or phone.
- FSCS protection up to £85,000 – keep your money safe with financial protection for eligible deposits
| Availability | Limited companies, partnerships, sole traders & charities |
| Max. annual turnover | £400,000 |
| UK Resident |
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What is a business bank account?
If you are the owner of a business or a sole trader, a business bank account helps to separate your company finances from your personal finances. Additionally, they’re specifically designed to help you run your business with business-friendly services and features.
So, just like people have personal current accounts, businesses need bank accounts to carry out everyday transaction - from purchasing raw materials to paying employees and contractors.
How to find the best business bank account for you
Use the table above to compare business bank accounts, then click “view deal” next to your chosen option and follow the online application process on the bank’s own website.
It’s possible to have your online business bank account up and running in minutes, but to ensure the process is a smooth one, take the time to collect as much information as possible about your business before you apply. You should also check that your business meets any specific conditions set by the bank – such as its size or turnover.
What to look for in a business account
Your company’s specific banking needs will determine the best business bank account for you, because each bank offers different features. Take the time to compare them all to discover which one fits your business’s needs best.
If you're a sole trader...
As a sole trader, you know the importance of keeping costs to a minimum wherever possible. A business bank account with no monthly fees helps you achieve just that.
Sole traders might also wish to investigate digital or app-based banking. Digital banks don't have physical branches that you can visit but instead use an app on your smartphone. These banks offer a slew of innovative features such as:
Notification of instant payments
Tools to help you analyse your spending
Digital receipts
A way to compartmentalise costs
If you're a small business owner...
Bookkeeping can be a hassle for small business owners, who do not always have staff to handle this type of work. However, some business bank accounts provide services such as instant invoicing, automated expense categorisation and VAT returns.
These solutions may come with a small monthly premium, but it may be worth considering if it reduces the cost of hiring specialists or subscribing to another digital service.
How much do business bank accounts cost?
Business bank account fees vary between providers and according to various factors such as the account type, your account balance, and what kind of transactions are made using it.
Here are some examples of the types of additional fees you may be charged:
Monthly fee: ranges from £3 to £50
Cash withdrawals: charges of 20p to £1 per withdrawal
Cheques: you may be charged from 20p to £1 for each cheque written
Cash deposits: again, a charge of 20p to £1 may be levied for each deposit
Bank transfer: typically, 20p-£1 per transfer
It makes sense to review the transactions most frequently used by your business and see what fees they incur. This will help steer you towards the best business account for your specific needs. Read our guide to find out how much a business bank account costs.
The benefits of a business bank account
The primary benefit of using a business bank account is that it helps you separate your business and personal finances, but there's more to it than that. Here are some additional benefits of a business bank account:
Plug-in accounting software: Integrating FreeAgent, Xero or Quick Books into your bank account means that transactions are fed in automatically
Automatically save for tax: You can set up rules so that a percentage of each transaction is set aside for future tax payments
Benefit from multi-user access: This feature means that several users can operate the accounts
Track your invoices: Stay on top of your invoicing with automated tools
Get an overview of your budget and spending: Business accounts let you create budgets and automatically categorise transactions
Enjoy instant UK bank transfers: This lets you send and receive money instantly within the UK
Access personalised help when you need it: Many accounts offer 24/7 customer support
Ensures you meet legal obligations: Limited companies must have business bank accounts¹
"Business accounts can help you keep track of your professional spending. Just like with personal current accounts, you should compare to find one with the best features for you.
"Make sure you know what fees and charges will apply to your account before you open it."
Top tips for using business bank accounts
Keep your business and personal finances separate
Although it is possible to use the same account to make business and personal transactions if you're a sole trader or small business, it complicates things. Differentiating your mortgage, credit card payments, or food shopping from business transactions is a challenge, especially as your business starts to grow. It's better to keep things separate from the start so that you don't have to untangle things in the future.
Make use of introductory offers
Banks often try to attract new customers by giving them free business banking for a set period of time after they open a new account. Typically, this period lasts between three and 18 months. If you're starting a new business, introductory offers are a great way to keep costs down while you're getting established.
Look into app-based banks
A more recent addition to the banking landscape, app-based banks (aka challenger banks) do not have physical branches but operate instead as apps on a smartphone. Many of these banks offer a slew of innovative features for businesses.
How to switch to a new business bank account
Check for an easy switch
If your company has fewer than 50 employees, you're eligible to use the Current Account Switch Service. This quick, hassle-free service is available to smaller businesses for free.
Talk to your bank
If your business has more than 50 employees, you will need to speak to your current bank to find out how you can switch to a different business bank account provider.
Enjoy your new account!
Business bank accounts are often ready to use within minutes, so you can benefit from new features straight away. With others, you may need to provide additional documentation.
Business bank account FAQs
How long does it take to get a business account?
In terms of how long it takes to get a business account, it's possible to open a business bank account in minutes if you apply online or in a branch. However, it may take longer if the bank needs more documentation or has to run any checks.
Can I have more than one business current account?
Yes, you can have more than one business current account.
Can I use my personal account instead?
Your bank may let you use your personal account for business transactions if you are a sole trader or your business is a partnership. Incorporated and limited companies must use business accounts.
How much can I pay into my business account?
In regards to how much you can pay into a business account, most accounts have a minimum and maximum balance set by the bank. You may be charged a fee if your balance gets too low or high.
Can you get a business bank account with bad credit?
Yes. You can get a business bank account with bad credit, but your options may be limited. You may also find that you're restricted to a more basic business account.
Can you send and receive international payments from my business account?
Yes, you can send and receive international payments from your business acccount, although in some cases, you may be charged for non-sterling transactions. These fees vary depending on which bank you use, so it's worth shopping around if you regularly deal with foreign currency in your business.
Are business bank accounts covered by the FSCS?
Yes. Just like other accounts, business bank accounts are covered by the FSCS up to £85,000 per banking license. But be aware that sometimes different banks often operate under a single shared banking license e.g. Halifax and Bank of Scotland, which are both owned by the Lloyds Banking Group.
Why compare bank account deals with money.co.uk?
Comparing business accounts could save you money. Our multiple award-winning comparison service makes sure you get the lowest fees and rates possible based on your individual circumstances. Our aim is to provide you with the most up-to-date information, as well as useful tools and calculators so to help you make life's most important decisions and take control of your money.
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About our current accounts comparison
Who do we include in this comparison?
Our comparison tables include providers we have commercial arrangements with. The number of listings in our tables can vary depending on the terms of those arrangements, as well as other market developments. They are all from lenders regulated by the Financial Conduct Authority (FCA). Here is more information about How our website works.
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We have commercial agreements with some of the companies in this comparison and get paid commission if we help you take out one of their products or services. Find out more here.
You do not pay any extra and the deal you get is not affected.
¹You can find out more about the legal accounting responsibilities of running a limited business on the GOV.UK website.
Last updated: June 9, 2023