🏠 Business Banking» Best Business Bank Accounts in the UK (2026)
33 MIN READ
Advertising Disclosure
Business Expert is an independent comparison site. Some partners may compensate us for promotion. This never affects our impartial evaluations based on fees, customer service, and product features.
Best Business Bank Accounts in the UK (2026)
Compare UK business bank accounts by fees, cash deposits, FSCS protection and the features your business actually needs.
Most sole traders and small businesses should start with Tide: its free account includes invoicing and expense tools, and eligible deposits are protected through ClearBank. Its free plan includes only five transfers a month, though. If you make regular payments to suppliers, Starling’s unlimited free UK transfers are likely to cost less.
Quick Compare
Best Business Bank Accounts at a Glance
Best Business Bank Accounts at a Glance: Monthly fee · Free transfers · Cash deposit · Protection · Best for
Data checked against provider websites, the FSCS and the Current Account Switch Service participant list on 22 July 2026. Introductory and ongoing prices are not the same thing, so check both before applying.
The Best Business Bank Account for Each Business Type
No account is right for every business. The useful questions are practical ones: how often you make payments, whether you bank cash, whether you need borrowing, how much administration you want the account to handle, and whether you trade abroad.
The Best Business Bank Account for Each Business Type
What you need
Our pick
Why it wins
Main limitation
Apply
Best for sole traders and small businesses
Tide
Free plan with invoicing and expense tools, FSCS via ClearBank, and Current Account Switch Service (CASS) switching.
Only five free transfers a month, then 20p each; service trails Monzo, Mettle and Starling.
Category winners are editorial judgements from the criteria in How We Reviewed, built on current product data. Service percentages come from the Ipsos February 2026 survey. Accounts and fees checked 22 July 2026.
Tide also offers a fast digital application, and over 500,000 UK businesses bank with it. Starling scored 81% for overall service in the Feb 2026 Ipsos survey. For overseas payments, Revolut Business is unresolved on sole traders, with its Help Centre and Business Terms in conflict and unreconciled (Revolut Pro is the route it offers unincorporated individuals); Airwallex is an EMI, so funds are safeguarded rather than FSCS protected. Allica is built for established businesses and is not a startup account.
Start with the work the account needs to do. A business that takes cash has a different cost base from one that pays suppliers online. A company expecting to borrow will usually need more from its bank than a sole trader who wants invoices and expense capture in one app.
The headline monthly fee rarely tells the whole story. Payment charges, cash-deposit fees and foreign-exchange margins can matter more over a year. The cheapest account therefore depends on how the business uses it.
What These Business Bank Accounts Really Cost
Provider (plan)
UK transfers
Cash deposit
Overseas / FX
Starling
Free
0.7%, min £3 (Post Office)
0.4% conversion
Tide (Free)
5 free, then 20p
£2.50 up to £500 (Post Office); 3% (PayPoint)
2.75% on card use abroad (0% on paid plans)
Monzo (Lite)
Free
£1 per deposit (£3k sole trader / £10k company monthly limit)
1% on incoming FX, capped £1,000/payment
Mettle
Free
£2.75 per deposit (Post Office)
Mastercard rate
Revolut (Basic)
10 free, then 20p
Not accepted
Interbank to £1,000/month, then 0.6%
Zempler (Go)
3 free, then 35p
£4 min or 0.55% (Post Office)
Standard
Allica
Free (to 150/month)
Established-business account
Standard
HSBC / Barclays
Free electronic
Per £100 in branch, within an allowance
HSBC £4 + 2.99% margin
Verified 22 July 2026.
Sources: provider pricing pages checked 22 July 2026, including Tide, Starling, Monzo and Revolut. Intro and ongoing prices are shown separately in each provider card.
Cash deposits are the clearest example. At Starling, a business depositing £2,000 a month pays £14 a month, or about £168 a year, at the 0.7% Post Office rate. A business that never accepts cash pays nothing. That is why a free account is not automatically the cheapest account.
If you make few payments, take little or no cash and do not convert currencies, the choice narrows considerably. In that situation, service, app features, eligibility and access to credit may matter more than price.
Tide Smart does not beat Tide Free on transfers alone
Tide Free and Tide Smart both charge 20p for transfers above their included allowance. Smart adds a £12.49 monthly fee. On transfer charges alone, Free remains cheaper at every payment volume: the difference is £12.49 a month while you are within Free’s five included transfers and £7.49 a month once you are above Smart’s 30 included transfers. Choose Smart for its larger allowance or additional features, not because it reduces the price of each extra transfer.
Business Bank Account Costs at Real Usage Levels
We applied the published prices to four common trading patterns. These are illustrations, not quotations: providers can change their pricing, and the best result may change if you use other paid features.
Business Bank Account Costs at Real Usage Levels
Business profile
Cheapest fit
Roughly what it costs
Assumptions
Low-volume sole trader
Starling or Mettle
£0/year
15 UK transfers monthly; no cash or FX. Unlimited free UK transfers and no monthly fee keep both at £0.
Cash-taking local shop
Starling
~£168/year
£2,000 cash monthly, 40 transfers; free transfers and 0.7% cash fee produce £14/month, or £168/year.
Growing service company
Tide Free, or a plan for the FX
Transfers ~£180/year
80 UK transfers monthly, two users, £2,000 overseas card spend; Tide Free costs £15/month, or roughly £180/year.
Internationally trading company
Revolut Grow or Airwallex
Plan + FX margin
£10,000 converted monthly, three users; Revolut Grow’s £15,000 allowance covers it with no added margin.
Verified 22 July 2026.
Worked from current published tariffs (see the cost table above for per-provider sources, including Starling and Revolut). Accounts and fees checked 22 July 2026. An interactive calculator is in build; these profiles show the method in the meantime.
Starling’s £14 monthly cash charge is above its £3 minimum. On transfers alone, Tide Free remains cheapest: five free plus 75 at 20p equals £15 a month. Tide Smart costs more, so a paid plan earns its place for the foreign exchange and extra users, never for the transfers; Revolut Grow bundles a large FX allowance at £35/month, or £30 billed annually. For the internationally trading company, a mainstream account typically adds about 2 to 3% (£200 to £300/month); Airwallex should be compared on the same figures.
The right comparison is not simply free against paid. It is the total cost of the services you actually use, including cash banking, staff access and foreign exchange.
The term business account covers more than one type of product. A licensed bank, an account supplied through a partner bank and an electronic money institution can all offer an app, account number and sort code. The protection for your money differs.
Bank, E-Money Account or Payment Platform?
Provider
Type
Account provider
Protection
CASS switching
Starling
UK bank
Starling Bank
FSCS £120k
Yes
Monzo
UK bank
Monzo Bank
FSCS £120k
Yes
Tide
Account provided through a bank
ClearBank
FSCS £120k (via ClearBank)
Yes
Mettle
Account provided through a bank
NatWest
FSCS £120k (via NatWest)
No
Revolut
UK bank (staged migration from EMI)
Revolut Bank UK, or Revolut Ltd (EMI) if not yet migrated
FSCS £120k once on the bank entity; check your account terms
Protection and switching depend on the exact product and legal entity, not the brand. Accounts and fees checked 22 July 2026 against provider terms, the FSCS and the Current Account Switch Service participant list.
Safeguarded is not the same as FSCS protected
ANNA and Airwallex are electronic money institutions. They must safeguard customer money by keeping it separate from their own funds, usually with a partner bank. That is not the same protection as the FSCS deposit-guarantee scheme. If a licensed bank fails, eligible depositors can claim up to £120,000 through the FSCS. If an EMI fails, the safeguarded funds should still belong to customers, but recovery can take longer and follows a different process. Businesses regularly holding substantial reserves may prefer a licensed bank for that reason.
Which Business Banks Have the Best Service?
The Competition and Markets Authority (CMA) requires major banks to participate in an independent service survey run by Ipsos. It is a useful comparison because the providers are assessed on the same basis. It is not a complete answer to which account is right for a business: relationship management and lending scores can matter more than app scores for a company seeking credit.
Source: the CMA-required Ipsos business banking survey, published February 2026 (about 20,450 businesses, Jan–Dec 2025 fieldwork): Ipsos report (PDF). The results indicate service quality, not whether a provider offers the cash-deposit, eligibility, lending or FX features your business needs.
Detailed provider reviews
Our Business Bank Account Picks
An account belongs on your shortlist only if its fees, eligibility and protection fit your business. Each provider card shows who it suits and what may rule it out.
Tide Free Business Account
Tide Free Business Account
A free, app-based business account with built-in invoicing and a direct Sage bank feed.
Watch out: After the first 5 free transfers each month, every bank transfer in or out costs 20p, and the free plan caps invoicing at 3 a month. Overseas card use carries a 2.75% FX fee on the free plan (0% on paid plans).
Not ideal if: Businesses needing an overdraft, branch access, or a multi-currency account that holds foreign-currency balances
Free plan£0/month. 5 free transfers in or out per month, then 20p each. 3 free invoices per month.
Smart plan£12.49/month (or £99.99/year). 30 free transfers then 20p each.
Pro plan£27.49/month (or £219.99/year). Unlimited transfers.
Max plan£69.99/month (or £559.92/year). Unlimited transfers and invoicing.
FX fee (free plan)2.75% on overseas card use
FX fee (paid plans)0% on overseas card use
International paymentsSend and receive supported (SEPA and SWIFT); not a multi-currency holding account
FSCS protectionYes, up to £120,000 (new accounts via ClearBank)
Eligible entitiesSole traders and freelancers, and UK limited company directors (not partnerships or LLPs)
Eligibility: UK sole traders and freelancers, and directors of UK limited companies. Partnerships, LLPs, CICs and charities are not eligible. Fast online application with photo-ID and selfie verification; standard KYC checks apply. New accounts are provided by ClearBank and are FSCS-protected up to £120,000. Some legacy accounts issued before the ClearBank switch remain on an e-money safeguarding model.
Not ideal if: Businesses needing an overdraft, branch access, or a multi-currency account that holds foreign-currency balances
Watch out: After the first 5 free transfers each month, every bank transfer in or out costs 20p, and the free plan caps invoicing at 3 a month. Overseas card use carries a 2.75% FX fee on the free plan (0% on paid plans).
No monthly fees on free plan
New accounts FSCS-protected up to £120,000 via ClearBank
Built-in invoicing and expense management
Fast setup, open in minutes
Accounting integrations with Xero, QuickBooks, FreeAgent and Sage
Company formation service included
Only 5 free transfers a month on the free plan, then 20p each way
Free, Smart and Pro cap invoicing at 3 a month; only Max is unlimited
2.75% FX fee on overseas card use on the free plan
No overdraft facility, and not a multi-currency account for holding foreign balances
Some legacy e-money accounts are safeguarded, not FSCS-protected
No branch access; partnerships and LLPs not eligible
Integrated invoicing: create, send and track from the app (3 a month on Free, Smart and Pro; unlimited on Max)
Automatic expense categorisation and receipt scanning
Direct integrations with Xero, QuickBooks, FreeAgent and Sage
Company formation from £1 with the Company Secretary subscription, or £14.99 stand-alone
Starling Bank Business Current Account
Starling Bank Business Current Account
Starling combines free UK transfers and ATM withdrawals in a full bank account, making it a better fit if you want more than a payments app.
Best for: Free banking with built-in invoicing; MTD accounting is a paid add-on, and business overdraft and loan applications are not currently accepted
Watch out: No branch access and limited human support options. International SWIFT transfers cost 0.4% currency conversion plus £5.50 delivery fee each. Starling publishes the free invoicing and Accounting Essentials for its sole trader account, so do not count on the same pair on a limited company account.
Not ideal if: Businesses that need face-to-face banking, complex lending, or Sage integration
Monthly feeFree
UK bank transfersFree
Native invoicingFree (sole trader account)
MTD for Income TaxHMRC-recognised, built into Accounting Essentials, free
Accounting integrationsXero, QuickBooks, FreeAgent, Penfold, SumUp, all free
FX rateMastercard exchange rate
International SWIFT transfers0.4% currency conversion + £5.50 delivery fee per payment
OverdraftNot currently accepting applications
Multi-currency accountsEuro and USD sub-accounts available
CASS switchingSupported for business accounts
FSCS protectionYes, up to £120,000
Eligible entitiesSole traders, limited companies, LLPs (general partnerships not supported)
Eligibility: UK sole traders, limited companies, and LLPs are eligible. General partnerships are not currently supported. Standard identity and business verification required. FSCS protection up to £120,000 applies to eligible deposits.
Not ideal if: Businesses that need face-to-face banking, complex lending, or Sage integration
Watch out: No branch access and limited human support options. International SWIFT transfers cost 0.4% currency conversion plus £5.50 delivery fee each. Starling publishes the free invoicing and Accounting Essentials for its sole trader account, so do not count on the same pair on a limited company account.
Completely free with no monthly fees and no UK transfer fees
Free invoicing and free Accounting Essentials (HMRC-recognised MTD tool) on the sole trader account
Free integrations with Xero, QuickBooks and FreeAgent
FSCS protected up to £120,000
App scored 86% for online service (Ipsos 2026)
Supports the Current Account Switch Service
No branch access
Limited human support options
Overdraft: not currently accepting applications
Free business current account with no transaction fees
Free native invoicing and free Accounting Essentials (HMRC-recognised MTD for Income Tax)
FSCS deposit protection up to £120,000
Overdraft: not currently accepting applications
Euro and USD sub-accounts
Current Account Switch Service participant
Monzo Business Lite Account
Monzo Business Lite Account
The app leads the 2026 Ipsos service survey, scoring 90% for online banking, with pots that ring-fence money for tax and VAT.
Best for: Clean mobile banking with smart budgeting
Watch out: Free plan is very basic; most useful features require Pro (£9/month, first month free). Incoming foreign currency payments incur a 1% conversion fee (capped at £1,000 per transaction) on all plans.
Not ideal if: Businesses needing branch access or complex lending products.
Lite plan£0/month. Unlimited free UK bank transfers. Very basic feature set.
Pro plan£9/month (first month free). Adds invoicing, Xero and QuickBooks integrations, and multi-user access.
FX on card spendMastercard exchange rate; fee-free abroad on paid plans
Incoming FX payments1% conversion fee (capped at £1,000 per transaction) on all plans
Cash deposits£1 per deposit via PayPoint. Monthly limit: £3,000 (sole trader), £10,000 (limited company).
Accounting integrationsXero, QuickBooks (Pro plan only). FreeAgent (Lite plan, via Monzo’s partnership).
FSCS protectionUp to £120,000 on eligible deposits (Monzo Bank Ltd, all plan tiers)
CASS switchingFull participant
Eligible entitiesSole traders, limited companies
Eligibility: Sole traders, LTDs
Not ideal if: Businesses needing branch access or complex lending products.
Watch out: Free plan is very basic; most useful features require Pro (£9/month, first month free). Incoming foreign currency payments incur a 1% conversion fee (capped at £1,000 per transaction) on all plans.
Regulated UK bank account, FSCS protected up to £120,000 on eligible deposits (all plan tiers)
Budgeting pots; app scored 90% for online service (Ipsos 2026)
Tax pot automatically sets aside estimated tax
Free Lite plan available
Instant spending notifications
Fee-free spending abroad on paid plans
Free plan is very basic
Most useful features require Pro (£9/month)
1% conversion fee on incoming foreign currency payments (capped at £1,000 per transaction)
Overdraft subject to eligibility; not guaranteed
No branch access
Pots for ring-fencing tax, savings, and expenses
Tax pot with automatic percentage set-aside
Integrations with Xero, QuickBooks, FreeAgent
Fee-free spending abroad (paid plans)
Revolut Business Basic Account
Revolut Business Basic Account
Revolut suits incorporated businesses that pay across borders: interbank FX inside a monthly allowance, multi-currency accounts, and team expense cards with per-person limits.
Best for: Incorporated UK businesses that want one account for UK banking, multi-currency wallets, team expense cards, and FSCS protection
Watch out: Revolut’s own UK eligibility information is inconsistent on sole traders: its Help Centre lists them as unsupported, while its Revolut Bank UK Business Terms include “new sole traders”. Check the eligibility shown during sign-up before relying on either. Some businesses that applied during the phased rollout were opened with Revolut Ltd rather than the bank; Revolut says that rollout is complete and any such account transitions automatically. Check the entity named on your own statement.
Not ideal if: Businesses that need branch access, cash deposits, or an overdraft, and anyone whose monthly FX volume regularly spikes above the plan allowance
Basic plan£10/month (no annual discount)
Grow plan£35/month billed monthly, or £30/month effective on annual billing (£360/year)
Scale plan£125/month billed monthly, or £90/month effective on annual billing (£1,080/year)
FX allowance (Basic)£1,000/month at interbank rate, then 0.6% markup
FX allowance (Grow)£15,000/month at interbank rate, then 0.6% markup
FX allowance (Scale)£60,000/month at interbank rate, then 0.6% markup
Currencies held25+
Local account detailsGBP, EUR, USD
Team cardsYes (physical and virtual, with spend limits and controls)
FSCS protectionUp to £120,000 on eligible deposits held by Revolut Bank UK Ltd. Check your account terms for your contracting entity.
Eligible entitiesLimited companies, LLPs and partnerships; sole traders unclear, Revolut’s own sources disagree
Eligibility: Limited companies, LLPs and partnerships registered in the UK are eligible for Revolut Business. Sole traders are a genuine open question: Revolut’s Help Centre lists them as unsupported, while its Revolut Bank UK Business Terms effective 28 April 2026 include “new sole traders”. We have not found a definitive answer in Revolut’s current published material, so check the eligibility shown during sign-up before relying on either page. Revolut Pro is the product Revolut points unincorporated individuals to. Revolut is also available to businesses in many EU and EEA countries. Restricted and prohibited industries include gambling, adult content, and certain financial services. Standard KYC and company document checks apply on opening. FSCS protection up to £120,000 applies to eligible deposits held by Revolut Bank UK Ltd; some accounts may still be on the older Revolut Ltd e-money entity during the phased migration. Check your in-app terms to confirm your contracting entity.
Not ideal if: Businesses that need branch access, cash deposits, or an overdraft, and anyone whose monthly FX volume regularly spikes above the plan allowance
Watch out: Revolut’s own UK eligibility information is inconsistent on sole traders: its Help Centre lists them as unsupported, while its Revolut Bank UK Business Terms include “new sole traders”. Check the eligibility shown during sign-up before relying on either. Some businesses that applied during the phased rollout were opened with Revolut Ltd rather than the bank; Revolut says that rollout is complete and any such account transitions automatically. Check the entity named on your own statement.
FSCS protection up to £120,000 on bank entity accounts
Interbank FX rate inside the monthly allowance
Team expense cards with per-card spend limits and controls
Invoicing on every plan including Basic
API access on Grow and Scale plans
No cash or cheque deposits at all, which rules it out as a sole account for takings
Grow is £35/month and Scale is £125/month when billed monthly
FSCS cover applies only to deposits held by Revolut Bank UK Ltd, and some accounts opened during the phased rollout started on the older Revolut Ltd e-money company
No overdraft facility
FX carries a 0.6% markup above the monthly allowance
Multi-currency accounts with interbank FX inside monthly allowances
Team expense cards with custom spending limits and merchant controls
Best for: Genuinely free banking for sole traders, with native invoicing and free FreeAgent
Watch out: FreeAgent stays free only if you make at least one transaction a month from your Mettle account; the optional Mettle+ upgrade (£4/month) is needed to convert quotes into invoices. Not a CASS participant, so switching in or out is a manual process.
Not ideal if: Businesses needing overdraft, multi-owner access, or CASS switching
Standard planFree. No monthly fee, no transaction fees.
FSCS protectionUp to £120,000 (provided by NatWest)
CASS switchingNot a participant; manual migration required
Eligible entitiesSole traders, limited companies (up to two owners; one account holder only)
Eligibility: Sole traders, LTDs with up to two owners (only one owner can access the account).
Not ideal if: Businesses needing overdraft, multi-owner access, or CASS switching
Watch out: FreeAgent stays free only if you make at least one transaction a month from your Mettle account; the optional Mettle+ upgrade (£4/month) is needed to convert quotes into invoices. Not a CASS participant, so switching in or out is a manual process.
Completely free, no monthly fees, no transaction fees
Native invoicing included free, with automatic payment matching
Free FreeAgent subscription included (subject to a monthly-transaction condition)
FSCS protected (backed by NatWest)
Simple, no-frills interface
No hidden charges
FreeAgent stays free only if you transact at least once a month from the Mettle account
Converting quotes to invoices needs the paid Mettle+ upgrade (£4/month)
Not a CASS participant, switching is a manual process
No overdraft facility
Only one owner can access the account, even on a two-owner LTD
Genuinely free business banking with zero transaction fees
Free FreeAgent accounting software subscription (conditional on monthly account activity)
FSCS deposit protection (NatWest-backed)
Optional Mettle+ (£4/month) for quote-to-invoice conversion
Zempler Bank Business Go Account
Zempler Bank Business Go Account
One of the few digital banks to offer an overdraft facility on a free account, alongside built-in accounting, invoicing and Making Tax Digital tools that most app-only accounts charge for or don’t offer.
Best for: Free banking with built-in accounting and an overdraft option
Watch out: Only 3 free bank transfers a month on the free Business Go plan, then 35p each (20 free on Extra, 500 on Pro). Built-in accounting, invoicing and Making Tax Digital tools are free; third-party integrations are fewer than Tide or Starling.
Not ideal if: Businesses needing deep third-party accounting integrations like Xero or QuickBooks
Business Go (free)£0/month. 3 free UK bank transfers/month, then 35p each.
Business Extra£9/month. 20 free transfers/month, then 35p each.
Business Pro£19/month. 500 free transfers/month, then 35p each. Includes 0.5% interest-earning savings pot.
Card purchasesFree
OverdraftUp to £10,000 subject to eligibility. Limited companies can apply at account opening; sole traders qualify after 3 months. First £5 interest-free.
Built-in bookkeepingYes, free on all plans: receipt scanning, invoicing, expense categorisation
MTD for Income TaxBuilt in on all plans
Tap to PayFree in-app via Stripe (iPhone XS+ / Android NFC). No Zempler fee; standard Stripe rate applies.
Cash depositsPost Office: £4 minimum or 0.55% of deposit, whichever is greater
FSCS protectionUp to £120,000 (Zempler Bank Ltd)
Phone supportUK line on all plans: 8am-6pm Mon-Fri, 8am-4pm Sat, closed Sun. Lost or stolen cards 24/7.
Eligibility: Sole traders, LTDs, LLPs, partnerships
Not ideal if: Businesses needing deep third-party accounting integrations like Xero or QuickBooks
Watch out: Only 3 free bank transfers a month on the free Business Go plan, then 35p each (20 free on Extra, 500 on Pro). Built-in accounting, invoicing and Making Tax Digital tools are free; third-party integrations are fewer than Tide or Starling.
Built-in accounting, invoicing and MTD tools at no extra cost
FSCS protected up to £120,000
No monthly fees
Overdraft facility available, rare for a digital bank
UK phone support on every plan, including the free Business Go tier
Free in-app Tap to Pay for accepting contactless card payments, no separate reader or Zempler fee
Only 3 free bank transfers/month on the free Business Go plan, then 35p each
Third-party accounting integrations more limited than Tide or Starling
Fewer digital features than Tide or Starling
Relatively small user base
Free business current account with built-in accounting, invoicing and MTD tools
FSCS deposit protection up to £120,000
No monthly account fees
Free payments a month by plan: 3 on Business Go, 20 on Extra (£9), 500 on Pro (£19), then 35p each
In-app Tap to Pay (via Stripe) to accept contactless card payments, free of any Zempler fee
ANNA Business Account (Free plan)
ANNA Business Account (Free plan)
ANNA scans your receipts and works out your tax as you go, so it suits sole traders who would rather the bookkeeping ran itself than log into a separate tool.
Watch out: The free plan takes 0.95% of everything you receive above £1,000 a month; the paid plans swap that for a transfer allowance (15 a month on Grow, then 27p each); SWIFT payments cost £5 on the paid plans plus 1% currency conversion.
Not ideal if: Businesses making many daily transactions or needing FSCS deposit protection
Free plan£0/month. Unlimited outgoing transfers. First £1,000 of incoming payments each month free, then 0.95% commission. Checked on anna.money, 23 September 2026.
Grow plan£12.90/month + VAT. 15 free transfers in and out each month, then 27p each.
Business plan£22.90/month + VAT. 60 free transfers in and out each month, then 20p each.
Big Business plan£59.90/month + VAT. Unlimited free transfers.
+Taxes add-on£29.00/month + VAT. For limited companies only.
Incoming-payment cost exampleA freelancer receiving £5,000/month in client payments on the free plan pays £38 in commission (0.95% of the £4,000 above the free £1,000), before any other fees.
FX fee1% currency conversion on card payments abroad
International SWIFT transfers£5 per payment
Accounting integrationsBuilt-in tax and expense tools (limited third-party integrations)
OverdraftNot available
FSCS protectionNo on the main account (e-money, safeguarded under the Electronic Money Regulations 2011). ANNA’s separate Griffin easy-access savings account is FSCS protected up to £120,000.
Eligibility: UK sole traders, limited companies, and LLPs are eligible. Fast app-based setup. Standard KYC and identity checks apply. ANNA is an e-money account (not a bank), so funds are safeguarded at partner banks rather than covered by FSCS.
Not ideal if: Businesses making many daily transactions or needing FSCS deposit protection
Watch out: The free plan takes 0.95% of everything you receive above £1,000 a month; the paid plans swap that for a transfer allowance (15 a month on Grow, then 27p each); SWIFT payments cost £5 on the paid plans plus 1% currency conversion.
AI-powered receipt scanning and tax calculations
Automatic expense categorisation
Built-in invoicing with payment chasing
Company formation through the app
No monthly fee on the Free plan suits businesses with modest incoming payments
0.95% commission on incoming payments above £1,000 a month on the free plan makes it expensive for freelancers with regular client revenue: £38/month on £5,000 of receipts
On Grow, transfers in and out beyond 15 a month cost 27p each
No FSCS protection on the main account (e-money safeguarded; only the separate Griffin savings account is FSCS protected)
Not a Current Account Switch Service participant
Limited third-party integrations
No overdraft facility
AI receipt scanning, photograph and auto-categorise expenses
Best for: Established businesses holding larger balances
Watch out: Aimed at established businesses holding roughly £50,000+ or an Allica loan; a £25/month fee applies if your average balance falls below £10,000 in any month. Fewer features and integrations than the digital banks.
Not ideal if: Newer or low-balance businesses, and anyone needing invoicing tools or broad accounting integrations. This is not a general startup account.
Eligibility: Established businesses, usually incorporated 12+ months; aimed at those holding around £50,000+ or an Allica loan. LTDs and LLPs (minimum requirements apply)
Not ideal if: Newer or low-balance businesses, and anyone needing invoicing tools or broad accounting integrations. This is not a general startup account.
Watch out: Aimed at established businesses holding roughly £50,000+ or an Allica loan; a £25/month fee applies if your average balance falls below £10,000 in any month. Fewer features and integrations than the digital banks.
No interest on credit balances in the Business Rewards Account
FSCS protected up to £120,000
No monthly fee if average balance stays above £10,000
Dedicated relationship managers
Savings pots with competitive rates
£25/month if average balance drops below £10,000
Relatively new, fewer features than established digital banks
Limited accounting integrations
No invoicing tools
Minimum requirements apply for eligibility
Business Rewards Account with no interest on credit balances
Savings pots with competitive AER
FSCS deposit protection up to £120,000
Dedicated relationship manager
Airwallex Business Explore Account
Airwallex Business Explore Account
Built around cross-border trade: multi-currency accounts, mid-market FX at a 0.5% markup on major currencies and 1% on the rest, and an API for batch payments.
Best for: Multi-currency wallets and batch payments
Watch out: £19/month fee unless you maintain £10k+ monthly deposits. Not a full UK current account and no FSCS protection.
Not ideal if: Domestic-only businesses with simple banking needs
Monthly fee£19/month (free if you deposit £10,000+ in the month)
FX rateInterbank +0.5% major currencies, +1% others
Transfer feeFree (including batch payments)
Currencies held60+
Local account detailsMajor markets including USD, EUR, GBP, AUD, CAD, SGD and more
API accessYes (for treasury automation and integrations)
Accounting integrationsXero, QuickBooks, NetSuite
OverdraftNot available
FSCS protectionNo (e-money safeguarded)
Eligible entitiesUK-registered limited companies, LLPs, partnerships and sole traders
Eligibility: UK-registered limited companies, LLPs, partnerships and sole traders are eligible; Airwallex publishes the onboarding document list for each, checked 10 September 2026. Standard KYC checks and business registration documents required. Unsupported industries include gambling, adult content, and certain financial services.
Not ideal if: Domestic-only businesses with simple banking needs
Watch out: £19/month fee unless you maintain £10k+ monthly deposits. Not a full UK current account and no FSCS protection.
Multi-currency wallets holding 20+ currencies, with transfers sent in 60+
Competitive FX at interbank +0.5% on major currencies, +1% on the rest
Batch payment processing
API access for treasury automation
Local account details in major markets
£19/month unless you deposit £10,000+ in the month
Not a full UK current account
No FSCS protection (e-money safeguarded)
Overkill for domestic-only businesses
Multi-currency wallets holding 20+ currencies; payouts in 60+ currencies to 200+ countries and regions
Local receiving accounts in USD, EUR, GBP, AUD, and more
Batch payments for payroll and supplier runs
API and webhook integration for treasury automation
HSBC Small Business Bank Account
HSBC Small Business Bank Account
HSBC offers branch access, relationship managers, and lending products that digital banks cannot match.
Watch out: £10/month after the 12-month free period; cash deposits £1.60/£100 at the counter
Not ideal if: Businesses wanting zero-fee banking or advanced digital tools
Eligibility: Sole traders, LTDs, partnerships
Not ideal if: Businesses wanting zero-fee banking or advanced digital tools
Watch out: £10/month after the 12-month free period; cash deposits £1.60/£100 at the counter
12 months free day-to-day banking for new businesses
FSCS deposit protection up to £120,000 (full banking licence)
Branch network across England and Wales
Business overdraft up to £50,000 with instant online decision
Full lending suite: loans, asset finance, and commercial mortgages
Relationship managers for qualifying businesses
Electronic payments in and out are included at no extra cost
£10/month after the 12-month free period
Cash deposits at counter cost £1.60 per £100 (machine rate £0.85/£100)
Cheques over the counter cost £1.20 each (machine or app rate £0.85)
Digital experience behind challenger banks
From December 2025: £12/month additional fee for unauthorised overdrafts over £12
£10/month (12 months free for new businesses)
Branch network across England and Wales
Business overdraft up to £50,000
Electronic payments in and out at no extra cost
NatWest Business Bank Account
NatWest Business Bank Account
NatWest drops the monthly account fee and throws in a free FreeAgent subscription for as long as you bank with them, and switchers get two full years of free everyday banking.
Watch out: Two years’ free everyday banking comes two ways: automatically on the Start-up account (new business, trading under a year, turnover under £1m), or via a full CASS switch to the standard Business account (existing business, turnover under £2m, not switching from RBS or Ulster Bank). After either free period you move to NatWest’s Standard Tariff, where cash paid in costs £0.95 per £100 (plus a £0.95 per-item manual handling charge), and non-sterling card transactions carry a 2.75% fee.
Not ideal if: Businesses wanting permanently free banking or multi-currency support
Monthly feeFree for 2 years (startups and switchers); Standard Tariff after
Electronic transfersFree for 2 years; then 35p each on the Standard Tariff
Cash depositsFree in window; then £0.95/£100 at branch or Post Office
FX fee2.75% on non-sterling card transactions
International transfersFrom £4 (SWIFT)
Accounting softwareFreeAgent (free for life of the account)
Eligibility: Sole traders, LTDs, partnerships, startups
Not ideal if: Businesses wanting permanently free banking or multi-currency support
Watch out: Two years’ free everyday banking comes two ways: automatically on the Start-up account (new business, trading under a year, turnover under £1m), or via a full CASS switch to the standard Business account (existing business, turnover under £2m, not switching from RBS or Ulster Bank). After either free period you move to NatWest’s Standard Tariff, where cash paid in costs £0.95 per £100 (plus a £0.95 per-item manual handling charge), and non-sterling card transactions carry a 2.75% fee.
Free FreeAgent accounting software for as long as you hold the account
No standard monthly account fee
Two years’ free everyday banking for switchers
FSCS protected up to £120,000
Business lending and 2 years of free banking on everyday transactions for eligible start-ups
Standard transaction charges kick in once the free-banking period ends
Cash handling costs £0.95 per £100 on the Standard Tariff, once the free period ends
2.75% fee on non-sterling card transactions
Digital experience still trails the fintechs
Two years’ free everyday banking for switchers (turnover up to £2m)
Free FreeAgent accounting software while you hold the account
Business overdraft and loan facilities
Entrepreneur accelerator programme
Virgin Money M Account for Business
Virgin Money M Account for Business
Virgin Money’s M Account pairs free everyday banking with unlimited 0.25% cashback on debit card spend, in-app cheque scanning and branch access, a combination most digital-only freelancer accounts don’t offer.
Best for: Free banking with cashback, cheque handling and branch access
Watch out: Only available to businesses with annual turnover under £1m. Digital tools and integrations lag behind fintech competitors. International SWIFT transfers cost £17.50 each; cash-deposit tariffs are set out in Virgin Money’s separate Tariff Guide and haven’t been independently re-verified here.
Not ideal if: Businesses with turnover above £1m, or those wanting advanced invoicing, multi-currency features, or frequent international payments.
Monthly feeFree
UK bank transfersFree (up to £30,000 per transfer)
Cashback0.25% on debit card spend (0.5% on trade supplies)
Cash depositsBranch (tariff applies; see Virgin Money Tariff Guide)
EligibilityTurnover under £1m; sole traders, LTDs, LLPs, partnerships
Cheque depositsIn-app cheque scanning
Eligibility: UK-based sole traders, limited companies, LLPs and partnerships with annual turnover under £1m. Excludes clubs, charities, and businesses based in the Channel Islands, Isle of Man or Northern Ireland.
Not ideal if: Businesses with turnover above £1m, or those wanting advanced invoicing, multi-currency features, or frequent international payments.
Watch out: Only available to businesses with annual turnover under £1m. Digital tools and integrations lag behind fintech competitors. International SWIFT transfers cost £17.50 each; cash-deposit tariffs are set out in Virgin Money’s separate Tariff Guide and haven’t been independently re-verified here.
Free business banking with no monthly fees
Unlimited 0.25% cashback on debit card spend (0.5% on trade supplies)
In-app cheque scanning
Branch access across the UK
Xero free for 6 months on signup
FSCS protected up to £120,000 (combined with Nationwide holdings)
Overdraft available subject to eligibility
Free UK bank transfers up to £30,000 per transaction
Only available to businesses with turnover under £1m
Digital tools and integrations lag behind fintechs
International SWIFT transfers cost £17.50 each
Fewer business lending options than major banks
Smaller branch network than HSBC or Barclays
Free M Account for business with no monthly charges
Unlimited 0.25% cashback on debit card spending
In-app cheque scanning
Branch access for in-person banking
FSCS deposit protection up to £120,000
Business overdraft (subject to eligibility)
Co-operative Bank Business DirectPlus Account
Co-operative Bank Business DirectPlus Account
The Co-operative Bank is one of the few UK banks with an explicit ethical policy, and new customers get 30 months of free banking as long as they keep at least £1,000 in the account.
Watch out: The first 30 months have no monthly fee while your balance stays above £1,000. Automated debits and debit card purchases then cost 35p each; if the balance falls below £1,000 during a charging period, the fee is £7 and those transactions cost 70p each.
Not ideal if: Businesses wanting a fintech-grade app or deep accounting integrations
Eligibility: Sole traders, LTDs, partnerships, charities
Not ideal if: Businesses wanting a fintech-grade app or deep accounting integrations
Watch out: The first 30 months have no monthly fee while your balance stays above £1,000. Automated debits and debit card purchases then cost 35p each; if the balance falls below £1,000 during a charging period, the fee is £7 and those transactions cost 70p each.
Explicit ethical banking policy
Branch access across the UK
FSCS protected up to £120,000
Overdraft facility available
Supports charities and social enterprises
£7/month after the 30-month free period
Digital tools lag behind fintech competitors
Limited accounting integrations
Cash handling charges apply
Values-driven banking with published ethical policy
Branch access for cash and cheque handling
FSCS deposit protection up to £120,000
Business overdraft facility
Can You Open a Business Bank Account?
Eligibility determines which accounts you can apply for. Providers can restrict accounts by business structure, the residence of directors, ownership, sector, trading history and the checks they need to complete.
Can You Open a Business Bank Account?
Structure
Can you open one?
Where to look
Sole trader
Yes, widest choice
Tide, Starling, Monzo, Mettle, Zempler, ANNA (not Revolut Business, which sends sole traders to Revolut Pro)
Limited company
Broad, subject to checks
Most accounts here, subject to each provider’s industry, residence, ownership and trading-history rules
Partnership / LLP
Most, but check
Starling, high-street banks, Revolut Business; not Monzo or Mettle
Tide and Monzo Business say they verify identity rather than run a hard credit check for their base accounts, which we confirmed on their own pages on 22 July 2026. That does not apply to overdrafts or lending, which are credit assessed.
If your credit history is weak, read the provider’s current policy before applying, and avoid making several applications without checking the likely type of search.
No business has an automatic right to an account
Banks can decline an application on commercial or risk grounds. High-risk sectors, including cryptocurrency, gambling, adult entertainment and money-service businesses, are often excluded by mainstream banks. Where a provider cannot support a business, a specialist electronic money institution may be an option, although it has different protection arrangements.
High-risk sectors such as cryptocurrency, gambling, adult entertainment and money service businesses are routinely refused by mainstream banks, and usually need a specialist Electronic Money Institution (EMI) instead.
A bank can freeze an account while it runs identity and source-of-funds checks. If a freeze would stop you trading, keep a second account open as a backup.
If a mainstream bank says no, an identity-led digital account is normally the faster route back in. Our bad-credit accounts guide covers the options in detail.
How FSCS Protection Works for Business Accounts
Since 1 December 2025, the FSCS protects eligible deposits up to £120,000 per authorised firm. The limit applies to the legal owner of the money and to the authorised firm behind the account. It does not apply separately to every account or brand.
For example, a sole trader holding business money and personal savings with the same banking group may have only one £120,000 limit across both. A limited company banking with the same group has its own limit because it is a separate legal entity.
How FSCS Protection Works for Business Accounts
Your structure
How the £120,000 limit works
Sole trader
Your personal and business deposits at the same authorised firm are added together and share one £120,000 limit.
Limited company
The company is a separate legal entity, so it has its own £120,000 limit, separate from your personal one.
Partnership / LLP
One £120,000 limit for the whole partnership, however many partners; an LLP gets its own, like a limited company.
Two brands, one licence
The limit is per authorised firm, not per brand. Brands that share a banking licence share the single limit.
The Current Account Switch Service moves the balance and regular payments, closes the old account and redirects payments sent to it for three years. It usually completes within seven working days, but only participating accounts use the service.
Mettle, ANNA and Airwallex were not CASS participants when we checked on 22 July 2026. Moving to one of them means updating direct debits, standing orders and payment details yourself. Keep the former account open until you have checked that recurring payments, particularly less frequent items such as VAT direct debits, have moved successfully.
Starling is the best all-round free option for businesses that make regular UK payments. Tide may suit a smaller business that values its invoicing and expense tools, provided the five free transfers a month are enough. Mettle is worth considering for sole traders and limited companies that want FreeAgent.
Which business bank account is best for cash deposits?
The right choice depends on where and how much cash you bank. High-street banks are usually more suitable for regular branch cash deposits. Starling can work for lighter Post Office deposits but charges 0.7%, with a £3 minimum. Revolut and Airwallex do not accept cash.
Is Tide FSCS protected?
Eligible money held in a Tide account is protected through Tide’s banking partner, ClearBank, up to the applicable FSCS limit. It is the authorised firm and the legal ownership of the balance that determine how the protection applies.
Are ANNA and Airwallex protected by the FSCS?
No. Both are electronic money institutions. Customer funds are safeguarded, which means they should be kept separate from the provider’s own money, but they do not receive FSCS deposit protection.
Can I open a business bank account with bad credit?
It may be possible, especially for a basic account without borrowing. Tide and Monzo Business state that they use identity checks rather than a hard credit search for their base accounts. An overdraft, card or lending facility is assessed separately, and the provider’s current rules should be checked before applying. See our bad-credit accounts guide for the full picture.
How We Reviewed Business Bank Accounts
Ranking criteria. We assess what a business is likely to pay over a year, the protection available if a provider fails, independent service results, cash-banking options, administration tools, eligibility and international features. A feature that does not improve the account for a defined business need does not decide a category.
How the winners are chosen. Each category addresses one identifiable need. The relevant fee, limitation and eligibility or protection point appear alongside every pick. Affiliate arrangements do not determine the rankings, and we do not recommend an account to a business structure the provider excludes.
Data sources. We checked fees, allowances, eligibility rules, FSCS status and CASS participation against provider pricing and terms pages, the FSCS and the Current Account Switch Service participant list on 22 July 2026.
Independent service results are from the Ipsos survey required by the Competition and Markets Authority and published in February 2026. We did not rely on comparison-site summaries, provider press releases or affiliate material for those checks.
Update cadence. We recheck the accounts regularly and when a provider changes pricing, eligibility or protection. The change log records material corrections. Some links are affiliate links; see our editorial policy for details.
Change Log
Change Log
Date
What changed
11 September 2026
Rechecked pricing, protection status, eligibility and service data; clarified the difference between bank accounts and electronic-money accounts.
22 July 2026
Corrected Tide’s transfer allowance and CASS participation; confirmed its ClearBank-provided account is FSCS protected; removed a Tide Smart claim.
22 July 2026
Corrected Lloyds, Monzo, Mettle, Starling, Revolut Basic and Zempler pricing, cash-deposit, eligibility and CASS details.
22 July 2026
Added the Ipsos Feb 2026 service-quality survey, an FSCS-by-structure explainer, a bank/e-money product-status ledger and worked cost scenarios.
Verified 22 July 2026.
Corrections are verified against provider pricing pages, the FSCS and the CASS participant list on the date shown.
The Tide entry records that the corrected allowance is five free transfers a month, not 50, and that the removed Smart claim did not survive the arithmetic. The other 22 July entry set Lloyds at £10/month after 12 months, corrected Monzo and Mettle cash deposits and Starling’s £3 cash minimum, and set Revolut Basic at 10 free transfers then 20p. It also corrected Revolut’s sole-trader eligibility and changed Zempler’s CASS status to participating.
Tide Free Business Account
Starling Bank Business Current Account
Monzo Business Lite Account
Revolut Business Basic Account
Mettle Business Bank Account
Zempler Bank Business Go Account
ANNA Business Account (Free plan)
Allica Bank Business Rewards Account
Airwallex Business Explore Account
HSBC Small Business Bank Account
Barclays Business Account for Startups
Lloyds Bank Business Account
NatWest Business Bank Account
Virgin Money M Account for Business
Co-operative Bank Business DirectPlus Account