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.
9 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
£100 cash reward when you open a Tide 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. 1 month free on any paid plan. FSCS-Protected, Bank Account by ClearBank.
£100 cash reward when you open a Tide account, use code BCA100. Offer ends 1st January 2026
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 |
Get £200 Cashback and Earn up to 4% AER (variable)
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.
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 |
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 |
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 |
Free bookkeeping and HMRC tax filing + FREE DOJO GO CARD READER (RRP £179)
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
*Offer available for new Dojo customers only. Your Dojo account must be linked to your Countingup account to qualify for the offer.
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 100,000 businesses - enjoy UK-based support and seamless data sharing with your accountant
Eligibility
| Availability | Limited companies & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Earn up to 1.2% cashback on business spend + USD 100 sign-up bonus*
WorldFirst Business Account
Account fee
No account fee
FSCS Protection
No
Account management
App, Online
Set-up time
Instant decision
Account integrations: Xero, Netsuite
Earn cashback and avoid foreign transaction fees in 15 currencies. Spend in 20+ currencies by opening free multi-currency accounts with no monthly fees. Easy collections from 130+ marketplaces, fast and secure international payment, real human support.
No overdraft facility, 18+, No FSCS, business only, T&Cs apply.
More Information
Good to know
- Designed for global businesses – one centralised account to manage revenue, payments and expenses across multiple countries, without opening separate local bank accounts
- Lower costs, fewer hidden fees – no account fees or minimum balances, zero FX fees in 15 currencies, and transparent pricing on international transfers
- Unlimited cashback on everyday spend – earn up to 1.2% cashback on all business card transactions with the World Card, wherever Mastercard is accepted (cashback rates may vary by region)
- Built to help you scale internationally – get paid like a local in 20+ currencies, access 130+ global marketplaces (including Amazon, Etsy and TikTok Shop), and pay suppliers in 100+ currencies
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |
Monzo Business Lite Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Online, Phone
Set-up time
1 Day
Monzo Business Lite gives you free UK bank transfers, effortless accounting with receipt uploads, 24/7 customer support and money management with Pots. Accept payments online or in person. 0% AER.
T&Cs apply. Must be a UK resident and a limited company or sole trader. The best of Monzo for your business. A free, streamlined account that makes it easy for your customers to pay, including contactless in-person payments. Lite is always free.
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 1.30% 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 |
Get up to £200 when you open a business bank account and a savings account*
The Co-operative Bank Business Bank Account
Account fee
No account fee
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5 Days
Account Integrations: QuickBooks, Sage, Xero
*Offer applies to new Co-operative Bank customers. Min. balance and transactional criteria applies for the first 3 months. Application subject to status (incl. credit checks & an assessment of your financial circumstances), eligibility and T&Cs.
Charges apply for cash & cheque transactions & other special services. Overdrafts subject to status, application & The Co-op Bank’s lending policy. Interest is charged & security fees may apply. Applicants must be 18+. Mobile banking subject to eligibility
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 |
| Max. annual turnover | Unlimited |
| UK Resident |
Get up to £200 when you open a Business Bank Account and a Savings Account*
The Co-operative Bank Business Bank Account Plus
Account fee
£10.00 per month
FSCS Protection
Yes
Account management
App, Branch, Online, Phone
Set-up time
5 Days
Account Integrations: QuickBooks, Sage, Xero and more
*Offer applies to new Co-operative Bank customers. Min. balance and transactional criteria applies for the first 3 months. Application subject to status (incl. credit checks & an assessment of your financial circumstances), eligibility and T&Cs.
Charges apply for cash & cheque transactions & other special services, e.g. foreign and CHAPS payments. Applicants must be 18+. Mobile banking subject to eligibility. Account available up to 10 key account parties.
More Information
Good to know
- Business toolbox access – get support for your business needs, plus save up to £70 with a Love2Shop voucher when you take out eligible business insurance
- Accountancy software integration – connect seamlessly with platforms like Sage, Xero, and QuickBooks to streamline bookkeeping and reduce admin time
- Bank with confidence – eligible deposits are protected up to £120,000 by the FSCS, and the provider is rated 'Excellent' on Trustpilot (with over 15,000 reviews)
Eligibility
| Availability | Limited companies, partnerships & sole traders |
| Max. annual turnover | Unlimited |
| UK Resident |