Compare Our Best Business Bank Account Offers

Choose the best business bank account for your company with features including no set up fees.

  • No account fee
  • Award-winning providers
  • Switch for free

How to get a business account

1

Work out what your business needs

Some businesses are legally required to hold a business account.

2

Decide if a business account will help

The features of business account might help simplify your accounting.

3

Find the type of business account you need

It's important to know which type of account is best suited for you.

4

Calculate the fees and interest rate

You might need to pay a monthly fee, though you might also earn interest.

5

Check the terms and conditions

Make sure you are happy with all the details of your account before you open it.

Business Account Deals

15 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.
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British Bank Awards 2021 Finalist: Best Business Banking Provider.
Cashplus Bank Business Bank Account
Account fee
No account fee
Free Banking Duration
-
Interest rate
0% AER
Instant online decision, no paper forms and no interview required. You will get your account number and sort code within minutes of completing your application.
The account is available to limited companies, partnerships, sole traders and charities. Funds are FSCS protected.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Use code 6FREEMONEY for 6 months free transfers. T&C's apply.
Tide Business Bank Account
Account fee
No account fee
Free Banking Duration
-
Interest rate
0% AER
Your Tide Mastercard is free to use worldwide, in any currency. ATM withdrawals £1, 20p transfers in and out of accounts. Utilise free inbuilt tools to automate your financial admin. FSCS protected.
This account is available to limited companies and sole traders.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Moneyfacts Business Current Account 2021 5 Star Rating
Virgin Money Business Current Account
Account fee
£6.50 per month
Free Banking Duration
25 months
Interest rate
0% AER
25 months' fee free day-to-day banking for start-ups and switchers. Includes free MasterCard business savings, debit card cashback, plus digital money management tools.
From 15th April 2021, this account is available for eligible businesses with up to £6.5m turnover.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Free Business Account with Automated Bookkeeping & Microsoft 365
Anna Business Current Account
Account fee
No account fee
Free Banking Duration
-
Interest rate
0% AER
Receive 1% cashback on purchases, issue multiple debit MasterCards with limits for your employees.
ANNA business account comes with instant invoice generator & HMRC recognized VAT filer. Control expenses & automate bookkeeping.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Mettle by Natwest Business Account
Account fee
No account fee
Free Banking Duration
-
Interest rate
0% AER
Mettle is 100% free, by NatWest and you can apply in minutes. Built for sole traders and limited companies with up to two owners.
Maximum account balance is £100k for limited companies and £50k for sole traders. 18 or over. Built for up to 2 owners (though only one owner can access the account) with UK residency. 
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum balance£50,000
UK Resident
Free Square Reader for contactless payments. T&Cs apply.
TSB Business Plus Account
Account fee
£5 per month
Free Banking Duration
25 months
Interest rate
0% AER
25 months FREE banking. £5 monthly fee thereafter waived if account balance kept above £10,000. Savings account available 0.30% AER variable paid monthly for balances over £5,000, subject to eligibility & application.
Arranged overdraft available subject to approval. Sole Trader, Partnership and Limited UK Businesses, 18+.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
NatWest/RBS customer offer: Switcher Cash Incentive of up to £6250*
TSB NatWest/RBS Switcher Business Plus Account
Account fee
£5 per month
Free Banking Duration
25 months
Interest rate
0% AER
You must complete a full switch using the CASS process and be an existing NatWest or Royal Bank of Scotland business customer. *Cash incentive amount determined by the average annual turnover of your business, minimum £15,000.
Plus 25 months FREE banking, £5 monthly fee thereafter. Waived if account balance kept above £10,000 and you don’t go overdrawn. Arranged overdraft available subject to approval & repayable on demand. Sole Trader, Partnership and Limited UK Businesses, 18+
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Card One Money Small Business Account
Account fee
£12.50 per month
Free Banking Duration
-
Interest rate
0% AER
We aim to open your account in a matter of hours with no credit checks or signatures required. Pay in cash and cheques, make and receive international payments and grow your business effortlessly with CardOneMoney.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Acorn Account Business Account
Account fee
£12.50 per month
Free Banking Duration
-
Interest rate
0% AER
You can open a fully online managed business account in as little as 4 hours with no credit checks. Enjoy benefits such as paying in cash and cheques, making and receiving international payments with IBAN and SWIFT and a fully managed online account.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
British Bank Awards 2020 Winner: Best Newcomer.
Countingup Business Current Account
Account fee
No account fee
Free Banking Duration
-
Interest rate
0% AER
Open an account in minutes, get account number, sort code and Mastercard in days. Business account and automated bookkeeping in one to manage business admin. £500 max monthly deposit on this plan. Available to limited companies and sole traders.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
Maximum balance£120,000
Royal Bank of Scotland Start Ups Business Bank Account
Account fee
No account fee
Free Banking Duration
24 months
Interest rate
0% AER
Royal Bank business banking is available to eligible customers over 18, who have the right to be self employed in the UK. Specific account and service eligibility criteria apply.
Overdraft arrangement fees will apply. Security may be required, for which a fee may apply.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident
Natwest Start Ups Business Bank Account
Account fee
No account fee
Free Banking Duration
18 months
Interest rate
0% AER
NatWest business banking is available to eligible customers over 18, who have the right to be self employed in the UK. Specific account and service eligibility criteria apply.
Overdraft arrangement fees will apply. Security may be required, for which a fee may apply.
Rate Tiers
Gross rateGross rateAER rateAER rate
Excluding bonusIncluding bonusExcluding bonusIncluding bonus
£10%0%0%0%
Eligibility
UK Resident

Compare another type of current account

Our services are provided at no cost to you. We may receive a commission from the companies we refer you to, but this does not affect what you will pay for the product you choose.

What is a business bank account?

baker

A business bank account allows you to conduct your everyday business transactions, such as paying staff, buying raw materials, or paying for services.

If you are a business owner, a business bank account keeps your company's finances separate from your personal bank account transactions, and usually comes with different features and services.

Some banks set specific conditions on your business bank account depending on the size of your business, or the amount of turnover.

You can open a business bank account online in minutes. Using our comparison table above you can compare business bank accounts and fill out the online application when you've chosen one that suits you.

To make the process as smooth as possible, it's worth gathering as much information as you can before you try to open your business bank account.

What to look for in a business account

The best business bank accounts differ depending on your banking needs. Different business accounts offer varying features, so pick one that offers what your business needs.

Features like monthly fees and functionality will be important factors in choosing a business bank account. As a sole trader, you will likely want to keep costs down wherever you can, which is why a business bank account with no monthly fees may be an attractive option.

A digital bank or app-based bank can be a good option for sole traders. These are banks that have no physical locations, but operate as an app on your smartphone. These app-based banks offer a slew of innovative features such as:

  • Instant payment notifications

  • Spending analytics

  • Digital receipts

  • Separate spaces for separate costs

As a small businesses you may not have the luxury of having extra staff to handle all the book keeping involved in running a business. This is why some business bank accounts offer services such as instant invoicing, automated expense categorisation and VAT returns.

You may have to pay a small monthly fee for access to these services with your bank account, but it may be a cheaper alternative to hiring a dedicated bookkeeper.

If you're a non profit organisation you could consider a charity bank account. These are available to a range of organisations, which can include charities, clubs, societies, trusts and religious organisations.

Most of these types of business bank accounts offer free banking for a certain period and remain free for basic services, as long as turnover remains under a specific threshold. However, they may charge a fee for services such as direct debits, or standing orders.

Business bank account costs

Fees for business banks accounts can vary significantly depending on the type of account, the amount of money being held and the nature of the transactions.

Many business accounts charge a yearly or monthly fee. Some business bank accounts may be free for an introductory period, which range from three moths all the way up to 18 months. Some may be free for basic banking features, but charge fees for add-on features or facilities.

Some examples of fees you may have to pay:

  • £3 up to £50 monthly fee

  • 20p to £1 to withdraw cash

  • 20p to £1 write a cheque

  • 20p to £1 pay money in

  • 20p £1 send money by bank transfer

It's a good idea to check the fees for the transactions your business uses the most. Doing this can help you pick the best business account for your needs. Here's more on 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 keep your business finances separate from your personal finances.

But a business bank account offers more than that. Some additional benefits of business bank accounts include:

  • Accounting software integrations: Connect your bank account with FreeAgent, Xero or Quick Books, so transactions, are fed in automatically
  • Tax Pots: Set aside a percentage of each transaction for tax payments
  • Multi-user access: Allows multiple users to operate the accounts
  • Invoicing: Lets you send of keep track of invoices
  • Budgeting and spending categorisation: Create budgets and automatically classify transactions into categories
  • instant UK bank transfers: Send and receive money instantly within the UK
  • 24/7 customer support: Access to personalised help whenever you need it
  • Meet legal obligations: A limited company must have a business bank account¹


"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."

Our top tips for using business bank accounts

  • Keep your business transactions separate form your personal finances. Although it is possible to run your business and personal life using the same account if you're a sole trader or small business, it can get complicated quickly. Differentiating your mortgage, credit card payments, or food shopping from business transactions is a challenge, especially if your business starts growing. It's better to keep things separate from the start so you don't have to untangle anything in the future.

  • Make use of introductory offers. Often banks will list attractive introductory offers of free business banking to draw in customers. Typically, these can range from three to 18 months or more. If you're a new business, these are a great way to keep costs down to a minimum as you get established.

  • Look into app-based banks. These are a somewhat recent addition to the banking landscape. Also commonly known as challenger banks, app-based banks have no physical locations, but operate as apps on a smartphone. Many of these banks now offer a slew of innovative features for businesses.

How to switch to a new business bank account

1

Check if you can use the Current Account Switch Service

Businesses with fewer than 50 employees can use the Current Account Switch Service, which is quick, simple, stress free and costs nothing.

2

Larger businesses should speak to their current bank

If your business has more than 50 employees, speak to your account provider about switching over to a different bank.

3

Enjoy the features of your new business bank account

Many accounts will be ready to use within minutes, though for others you may need to provide additional documentation.

Business bank account FAQs

You could open one in minutes if you apply online or in a branch, but it could take longer if the bank needs more documents or have to run any checks.

You can have more than one business current account but you will have to apply for the new account in the same way you did for the first.

If you are a sole trader or your business is a partnership, your bank may let you. Incorporated and limited companies can only use business accounts.

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.

Yes. It's definitely possible to get a business bank account if you have bad credit, the only draw back is that your options may be limited. It may also mean that you'll be likely to be accepted for a more basic business account.

Yes. But it's likely that you'll be charged a fee for non-sterling or foreign currency transactions. These fees can vary depending on which bank you use.

In some cases, if you have premium business bank account with a high monthly fee, international payments can be included as part of your account.

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 share banking license e.g. Halifax and Bank of Scotland, as they are both owned by the Lloyds Banking Group.

Explore business and current account guides

See more guides

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How business current accounts work

If you run your own business, are a sole trader or look after the finances of a company, you may need a current account. Here is how business bank accounts work and how to get one.

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What are direct debits and standing orders?

They are automatic payments from your bank account. They can stop you missing a payment and take away the hassle of paying manually. Here is how they work and when you can use them.

Read More
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How to manage your bank account

Here is how to use your current account to keep it running smoothly and to avoid being charged fees.

Read More

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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We have always aimed to provide the best possible services to bridge the gap between our users and our clients. Over the years, we have been thrilled to be recognised by various prestigious bodies and organisations for those efforts.

About our current accounts 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.

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.

Last updated: 13 August 2021