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Free business bank accounts

Compare free business bank accounts

Choose a free business bank account if you want to avoid a monthly fee. You could manage your small business with one of these accounts for free.

Earn cashback and rewards
No monthly or annual account fees
Mobile App and online banking available

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Business Bank Account

Free to receive bank transfers. No fees for UK ATM withdrawals. No UK purchase transaction fees.

Apply Now

The account is available to limited companies, partnerships, sole traders and charities. Funds are FSCS protected. *T's&C's apply

Compare free business bank accounts from leading providers

You'll only find results from genuine companies. Our data experts check each company before we add them to our comparisons.

How to compare free business accounts

1

Compare bank accounts

Use our current account table to find an account that offers all the features you need.

2

Check your eligibility

Make sure you fit the eligibility criteria for your chosen current account and get your proof of ID ready.

3

Apply for the account you want

Click "view deal" next to the offer and fill out the application form on the provider's website.

Business bank accounts

6 results found, sorted by affiliated products first. How we order our comparisons. Commission earned affects the table's sort order.

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FREE VAT Filing and invoicing tools

Anna Business Current Account

Account fee

No account fee

Annual turnover accepted

No limit

Availability

Limited companies & sole traders

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 rate	Gross rate	AER rate	AER rate
	Excluding bonus	Including bonus	Excluding bonus	Including bonus
£1	0%	0%	0%	0%

Eligibility

UK Resident

View deal

British Bank Awards 2022 Finalist: Best Business Banking Provider.

Cashplus Bank Business Bank Account

Account fee

No account fee

Annual turnover accepted

No limit

Availability

Limited companies, partnerships, sole traders & charities

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 rate	Gross rate	AER rate	AER rate
	Excluding bonus	Including bonus	Excluding bonus	Including bonus
£1	0%	0%	0%	0%

Eligibility

UK Resident

View deal

Tide Business Bank Account

Account fee

No account fee

Annual turnover accepted

No limit

Availability

Limited companies & sole traders

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. Multiple business credit options available.

This account is available to limited companies and sole traders.

Rate Tiers

	Gross rate	Gross rate	AER rate	AER rate
	Excluding bonus	Including bonus	Excluding bonus	Including bonus
£1	0%	0%	0%	0%

Eligibility

UK Resident

View deal

Mettle by Natwest Business Account

Account fee

No account fee

Annual turnover accepted

No limit

Availability

Limited companies & sole traders

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 rate	Gross rate	AER rate	AER rate
	Excluding bonus	Including bonus	Excluding bonus	Including bonus
£1	0%	0%	0%	0%

Eligibility

Maximum balance	£50,000
UK Resident

View deal

Virgin Money M Account for Business

Account fee

No account fee

Annual turnover accepted

Up to £1,000,000

Availability

Limited companies & sole traders

Interest rate

0% AER

Free online day-today business banking (excludes CHAPS and international payments). For business with annual turnover less than £1 million.

Rate Tiers

	Gross rate	Gross rate	AER rate	AER rate
	Excluding bonus	Including bonus	Excluding bonus	Including bonus
£1	0%	0%	0%	0%

View deal

Revolut Start Business Account

Account fee

No account fee

Annual turnover accepted

No limit

Availability

Limited companies, partnerships & sole traders

Interest rate

0% AER

Business account with multi-currency wallets and smart debit cards. Track expenses, set up teams and permissions and accept online card payments easily. Integrated with your accounting software of choice.

Rate Tiers

	Gross rate	Gross rate	AER rate	AER rate
	Excluding bonus	Including bonus	Excluding bonus	Including bonus
£1	0%	0%	0%	0%

Eligibility

UK Resident

View deal

Compare another type of current account

What are free business bank accounts?

As their name suggests, free business accounts don’t charge a fee. That means free setup, and no monthly or annual charges. This helps keep down costs, enabling you to focus your spending on your business.

Keep in mind, though, that free doesn’t mean there are no charges at all.

How business current accounts work

Who can get a free business account?

Free-of-charge accounts tend to be reserved for small businesses, including start-ups. The UK’s Companies Act 2006 defines a small business as one that meets at least two of the following conditions:

annual turnover of £5.6 million or less
annual balance sheet of £2.8 million or less
50 or fewer employees

If your company qualifies, you can use the table above to help you find a free business bank account that is right for you.

You can separate your personal and business accounts to simplify accounting and paying tax
Allows customers to make out cheques to your business
Demonstrates to clients you have a business account without the expense of running one
May entitle you to extra support while helping boost your business’s credit rating

Free banking for small businesses is never completely fee-free
A business account is still likely to cost you more than a personal account
Double the number of cards, cheque books, statements and passwords to take care of

Are there any charges with a free bank account?

All the free business bank accounts in our comparison table are free from monthly and annual charges, as well as setup costs. However, there are likely to be charges for extra services, such as cash withdrawals, bank transfers, replacing cheques and sending money abroad.

Compare the charges associated with each free business account to help you find the cheapest.

Do you have to get a business bank account?

Possibly. You do if you’re a limited company – it’s a legal requirement to have a business bank account. If you’re a sole trader, on the other hand, it’s up to you whether you have one.

How do I get a free business bank account?

If your business meets a bank’s criteria for obtaining a free business bank account, start your search using our comparison table at the top of the page. You can compare accounts based on elements such as:

annual turnover accepted
eligibility based on business type (such as being a sole trader or limited company)
how much interest you could earn

What features should I look for in my free business banking?

Free business accounts offer a wide range of features and perks. When comparing accounts, consider whether they come with an overdraft for easy – if expensive – borrowing. Other things to look for include:

debit cards for in-person spending
support for online banking
a Post Office banking service for depositing cash
whether they pay interest
the ability to link your account to third-party accounting software and apps for easy tracking of transactions

Not all fee-free bank accounts offer the same services as paid accounts. You can also explore options for a fee-based account if you can’t find the right free business current account for you.

Can I switch my no-fee business account?

Yes. Make use of the Current Account Switch Service when switching to or between free business bank accounts to make the process as easy as possible. Benefits include the automatic transfer of standing orders and direct debits to the new account, along with the redirection of payments from your old account to the new one (including informing payees of the change).

How do I open a free business bank account?

You can open a free account in a bank branch, online or over the telephone, depending on which account you’ve chosen (and having determined your eligibility).

You need to share business and personal details, as well as proof of identity and other documents. Check with the bank, so you can gather the right information before you apply.

Free business bank accounts FAQs

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Why compare current accounts with money.co.uk?

Comparing current accounts could save you money on overdrafts, get you cashback on bills or see you paid more interest on positive balances. Our multiple award-winning comparison service helps make sure you get the best deal 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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Last updated: 17 May, 2022