Find our best bank accounts for sole traders
As a sole trader, your time is precious – and managing your money shouldn’t take up all of it. A dedicated sole trader bank account can help separate your business and personal expenses, making tax time easier and your financial life simpler. Making your business banking work for you.
11 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
Free day-to-day online business banking
Virgin Money M Account for Business
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-4 Days
Free online day-to-day business banking (excludes CHAPS and international payments). For business with annual turnover less than £1 million.
For limited companies please allow up to 72 hours from registering your business with Companies House, before starting an application.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £1,000,000 |
| UK Resident |
£100 cashback when you open a Tide business bank account
Tide Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Register your business for £14.99 through Tide with Companies House, Get a Free instant saver account which gives you up to 4% AER when you sign up for your Tide business bank account. Eligibility and T&Cs apply. 3 months free on any paid plan. FSCS-Protected, Bank Account by ClearBank.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
Moneyfacts Business Current Account 2025 5 Star Rating
Virgin Money Business Current Account
Account fee
25 months free, then £6.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5-7 Days
25 months' fee free day-to-day banking for start-ups and switchers (excludes CHAPS and international payments). Includes free MasterCard business savings, debit card cashback, plus digital money management tools.
This account is available for eligible businesses with a turnover of less than 6.5m. For limited companies please allow up to 72 hours from registering your business with Companies House, before starting an application. Virgin Money is a trading name of Clydesdale Bank PLC
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | £6,500,000 |
| UK Resident |
Get £200 Cashback and Earn up to 4% AER (variable). Ts&Cs Apply
Tide Business and Savings Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
Instant decision
Save more, earn more—up to 4% AER (variable). Interest rates are tiered, with the top rate for balances over £1M. Each tiered rate applies to the portion within that range. New Tide members get these rates free for 6 months; after that, your Tide plan’s rates apply. 3 months free on any paid plan. FSCS-Protected, Bank Account by ClearBank.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Exclusive - Get your first 6 months of Pro completely free!
Monzo Business Lite Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
1 Day
Monzo Business customers get free UK bank transfers, effortless accounting via receipt uploads, 24/7 customer support and money management with Pots. They can receive payments through a single link. Earn 1.40% AER (variable) on money in your Instant Access Pots. Interest paid monthly. T&Cs apply.
Must be UK Resident and a limited company or sole trader.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies & sole traders |
| UK Resident |
3 month free trial plus free tax and accounting software
Countingup Business Account
Account fee
3 months free, then £3.00 per month
FSCS Protection
No
Account management
App, Online, Phone
Set-up time
Instant decision
Account Integrations: Stripe, Plaid
Apply in less than 4 minutes and save money with a Business current account, accounting and tax tools in one smart app. Log expenses, send invoices, track spending and automatically set aside tax.
Prepay Technologies Ltd (PPS) is the e-money issuer of your business account and Counting Ltd is a registered Agent of PPS. PPS is authorised and regulated by the Financial Conduct Authority.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Make and receive international transactions
Card One Money Small Business Account
Account fee
3 months free, then £12.50 per month
FSCS Protection
No
Account management
App, Online, Phone
Set-up time
3 hours
Account Integrations: FreeAgent, Sage, Xero
Provider aims to open your account within a matter of hours with no credit checks, verification of identity and residency only. Available to all business types. Pay in cash and cheques at your local Barclays, make and receive international payments and grow your business effortlessly with Card One Money.
£55 application fee. The Card One Money Business Account is not covered by the Financial Services Compensation Scheme, see product FAQs for more information.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Registration | Business registered & trading in UK |
| Max. annual turnover | Unlimited |
| UK Resident |
No monthly account fee for 12 months*
Barclays Switchers Business Account for £400,000 to £6.5m turnover
Account fee
12 months free, then £8.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-5 Days
*You won't have to pay a monthly account fee for 12 months if you don’t already have a Barclays Business Account with us. After 12 months, you'll pay £8.50 per month. Fees and charges will apply in line with the business account tariff, which could change.
Access to discounted partner services worth over £5,000. Terms and conditions apply to each partner service, see the partners' websites for details.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies, partnerships, sole traders & charities |
| Min. annual turnover | £400,000 |
| Max. annual turnover | £6,500,000 |
| UK Resident |
No monthly account fee for 12 months*
Barclays Switchers Business Account for turnover up to £400,000
Account fee
12 months free, then £8.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-5 Days
*You won't have to pay a monthly account fee for 12 months if you don’t already have a Barclays Business Account with us. After 12 months, you'll pay £8.50 per month. Fees and charges will apply in line with the business account tariff, which could change.
Access to discounted partner services worth over £5,000. Terms and conditions apply to each partner service, see the partners' websites for details.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies, partnerships, sole traders & charities |
| Max. annual turnover | £400,000 |
| UK Resident |
Free everyday digital business banking*
The Co-operative Bank Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
3 Days
Account Integrations: QuickBooks, Sage, Xero
Ideal for start ups and growing businesses who bank digitally. Most get a decision in 3 business days.*Charges apply for cash and cheque transactions and other special services e.g. foreign & CHAPS payments, visit website for details. Subject to status, eligibility & T&Cs.
Get free access to ‘Go Get Paid’ app from BankiFi to help you get paid faster, seamless integration with accounting software providers such as Sage, Xero and Quickbooks. Plus, access selected Clover payment terminals for £1 a month for the first 12 months (fees apply).
More Information
Good to know
- No monthly fee – a cost-effective solution for startups and growing businesses looking to bank digitally without overhead charges
- Discounted payment terminals and free Go Get Paid access – this makes it easier to process payments and manage transactions smoothly
- Accountancy software integration – streamline bookkeeping by connecting with your preferred accounting tools, saving time and reducing errors
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Registration | UK business address |
| Min. annual turnover | £1,000 |
| UK Resident |
No monthly account fee for 12 months*
Barclays Start-up Business Account
Account fee
12 months free, then £8.50 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
2-5 Days
*You won't have to pay a monthly account fee for 12 months if you don’t already have a Barclays Business Account with us. After 12 months, you'll pay £8.50 per month. Fees and charges will apply in line with the business account tariff, which could change.
Access to discounted partner services worth over £5,000. Terms and conditions apply to each partner service, see the partners' websites for details.
More Information
Good to know
- 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
Eligibility
| Availability | Limited companies, partnerships, sole traders & charities |
| Max. annual turnover | £400,000 |
| UK Resident |