TSB earns its place for startups that need branch infrastructure and can use 30 months of fee-free banking to build revenue before costs begin. It offers the longest free banking period of any major UK high-street bank.
Branch access across England, Scotland, and Wales, FSCS deposit protection to £120,000, and free electronic payments. After the free period, the ongoing fee is £5/month.
If you don’t actually need a branch, Starling is permanently free, also FSCS-protected, and charges nothing ongoing. Its cash is dearer though: 0.7% at the Post Office with a £3 minimum against TSB’s flat 70p per £100.
TSB Business Account at a Glance
Our Verdict
If you need 30 months to build revenue, TSB’s extended free period is a genuine advantage. It’s six months longer than Barclays or NatWest, long enough for most startups to get revenue moving before the ongoing cost applies.
After month 30 the fee is £5 a month, and TSB drops it altogether in any month your average balance reaches £10,000. Electronic payments stay free, which matters more than the fee: NatWest has no monthly charge at all but takes 35p on every payment in or out, so an account handling 100 payments a month costs more there than here.
If customer service quality influences your choice, TSB’s 3.9/5 Trustpilot rating matters. From 27,669 reviews (April 2026), that’s the strongest score of any high-street bank we reviewed. NatWest holds 1.4/5. Lloyds holds 1.5/5.
Best For
If you want the longest high-street free period with branch access, TSB is the only major bank offering 30 months. Particularly useful for retail and hospitality operations that regularly deposit cash and value the Post Office banking network.
Not Ideal For
Businesses wanting permanently free banking: Starling at £0 ongoing beats TSB at £5/month after month 30. Also unsuitable for businesses that want accounting software bundled in or those that need advanced digital tools.
Key Facts
Free period: 30 months for new businesses (longest of major high-street banks).
Monthly fee after free period: £5/month.
FSCS protection: Up to £120,000 per eligible depositor (full banking licence).
Branches: England, Scotland, and Wales, plus Post Office banking for cash and cheques.
Cash deposit fee: 70p per £100.
Trustpilot: 3.9/5 from 27,669 reviews (April 2026).
What Is TSB Business Account and How Does It Work?
How the Account Works
The TSB Business Current Account provides a UK sterling sort code, account number, Visa debit card, and access to online banking and the TSB mobile app (iOS and Android). Electronic payments in and out are free with no per-transaction cap.
New businesses get 30 months free, then must pay £5/month. There is no plan that removes the ongoing fee permanently. No accounting software is bundled.
Who the Account Is Designed For
We reviewed TSB as the extended-free-period choice for startups that need branch infrastructure. The account is designed for businesses that want a recognised banking name, 30 months of cost-free operation, and cash paid in at 70p per £100 at a branch or the Post Office.
It suits sole traders, limited companies, and partnerships in England, Scotland, and Wales that plan to use their branch access regularly during the free period and can justify £5/month after it ends.
How to Open an Account
You can apply online or in branch. Prepare identity documents, company formation details, and business address confirmation. For limited companies, have director and shareholder information ready. TSB publishes no single document checklist, so the list above is assembled from what its application asks for rather than from a published page.
The onboarding gap is a drawback: TSB’s online application is slower than app-first challengers like Starling. Allow several business days for processing. If you’re switching during a busy month, ensure supplier payments and payroll are covered before you begin.
Account Plans and Pricing
Free and Paid Plans
TSB offers one plan only: no pricing tiers. There is one Business Current Account. New businesses get 30 months free, then £5/month applies. There is no plan that removes the ongoing fee permanently.
The real cost comparison: over three years, TSB costs £135 in fees (months 19-36). NatWest costs £120 in fees (months 13-36) with FreeAgent included. Starling costs £0. The catch is TSB’s longer free period doesn’t offset its higher ongoing charge.
Monthly Fees
New businesses get 30 months free, the longest offer on the high street, and TSB has run it since 15 November 2022. After that the fee is £5 a month, and it disappears in any month your average balance is £10,000 or more. TSB works that average from the closing balance each day. We took both from TSB’s own charges guide and its free banking table in August 2026.
That waiver is the part worth planning around. A business that keeps a £10,000 float never pays the fee at all, which makes TSB free in practice for anyone holding a VAT reserve. A business that runs its balance down to the last few hundred pays £60 a year. Same account, same tariff, different habit.
| Fee Type | TSB | NatWest | Starling (digital) |
|---|---|---|---|
| Monthly account fee | £5, waived at a £10,000 average balance | None | None |
| Free banking period | 30 months | 2 years (start-ups and switchers) | No free period needed |
| Electronic payment in or out | Free | 35p each | Free |
| Cash paid in | 70p per £100 | 95p per £100 | 0.7%, £3 minimum |
| Accounting software | Not included | FreeAgent free for account lifetime | Not included |
| FSCS protection | £120,000 | £120,000 | £120,000 |
| TSB figures from its Business Banking Charges Guide and its free banking table at tsb.co.uk/business/legal. NatWest from its Business Current Account charges leaflet, correct as at 20 April 2026. Starling from its account schedule, effective 27 April 2026. All read August 2026. | |||
Transaction and Transfer Fees
Electronic and debit payments are free with no per-transaction charge. ATM withdrawals from TSB machines are free. We took these from TSB’s Business Banking Charges Guide in August 2026. NatWest charges 35p for the same payments.
Cash Deposit, ATM and Card Charges
Cash deposits cost 70p per £100. Cheques paid in or out cost 70p each. ATM withdrawals from TSB machines are free. We confirmed these from TSB’s published tariff at tsb.co.uk in April 2026.
If you handle £1,500/week in cash, weekly deposit fees cost £10.50. That adds £40–£45/month on top of the £5 account fee. The monthly-fee headline doesn’t capture this for cash-handling businesses.
| Transaction Type | Fee |
|---|---|
| Electronic payments (in and out) | Free |
| Debit card payments | Free |
| ATM withdrawals (TSB machines) | Free |
| Cash deposits | 70p per £100 |
| Cheques paid in or out | 70p per item |
| Tariff rates confirmed from tsb.co.uk, April 2026. | |
Banking Features
Payments, Transfers and Direct Debits
Electronic payments, direct debits, and standing orders are free. No per-transaction charge on day-to-day business spending.
Cards and Expense Cards
The account includes a Visa debit card. TSB publishes no employee debit card and no expense card product alongside it, so a team that needs cards each has to look outside the bank. Checked at tsb.co.uk, 27 August 2026.
Accounting Integrations and Business Tools
If you use Xero, QuickBooks, or similar tools, you can connect them via Open Banking for a live bank feed. Confirmed from TSB’s published product information in April 2026. No manual CSV exports needed.
Beyond Open Banking, TSB’s integration is minimal: no dedicated accounting partnership, bundled software, or workflow tools. No built-in invoicing, expense tracking, or VAT return workflow.
NatWest is the stronger pick if accounting software matters. It bundles FreeAgent free for the life of the account, and FreeAgent costs £14.50 a month on its own. TSB bundles nothing, so a business that wants the software is paying for it twice over against NatWest.
Multi-User Access and Spending Controls
TSB publishes nothing about per-user permissions or spending controls, and we could not find them in its charges guide or its account pages. What it does publish is a payment limit that differs by how you bank: £50,000 for a single payment online, £10,000 through the app, £2,500 through the automated phone line. If two people need to spend on the business, budget for a separate expense card provider.
Savings, Credit or Other Extra Features
TSB offers both arranged and unarranged overdraft facilities. Unarranged overdrafts carry a daily fee plus a £12 fee for unpaid items. We confirmed these from TSB’s published charges guide in April 2026.
TSB publishes an arranged overdraft at a representative 12.75% equivalent annual rate, quoted on an assumed £8,000 over twelve months. On top of the interest there is an arrangement fee of 1.5% of the amount borrowed, with a minimum somewhere between £100 and £250.
We rate the arrangement fee the part worth planning around: on a small facility it is the dominant cost, because the minimum charge applies whether you borrow £2,000 or £8,000. Checked at tsb.co.uk, 27 August 2026.
If you expect to need credit, TSB’s full-service bank model has practical value. Unlike Starling or Tide, a branch conversation about overdraft or working capital is available from day one. That trading history is already on record when the conversation happens.
International Features
Sending International Payments
TSB prices international payments by how quickly you want them to move. Sending through Internet Banking costs £15. A standard international payment made any other way is £21, and an express one £28. Euro payments to qualifying European countries are free, which is worth knowing if most of your suppliers are inside the euro area.
The one figure TSB does not publish is the exchange rate margin. It quotes the transfer fee and converts at its own rate, so you can price the fee before you send and not the conversion. On a £5,000 payment that unstated margin usually costs more than the £15 does.
Receiving International Payments
Receiving costs money at TSB, which catches people out. A payment from abroad of up to £100 costs you £2, and anything over £100 costs £7, taken from your end regardless of what the sender paid. Euros arriving from qualifying European countries are free. Invoice a customer in New York for £400 and you keep £393 of it.
Foreign Exchange Fees and Currency Support
Multi-currency is a gap: TSB does not offer a built-in multi-currency account. All balances are held in sterling.
If you have regular international suppliers or revenue, compare TSB to alternatives. Wise Business applies mid-market rates with fees from ~0.43%. Airwallex offers multi-currency accounts with competitive rates. Both operate alongside TSB as a main account.
Eligibility and Account Limits
Who Can Apply
If you’re a sole trader, partner, or company director aged 18+, you’re eligible. We confirmed eligibility criteria from tsb.co.uk in April 2026.
Supported Business Types
Sole traders, partnerships, limited companies and limited liability partnerships can all open one. TSB sets out limited companies and limited liability partnerships together on its own account pages when it explains how the £120,000 deposit guarantee works, and both count as separate legal entities from the people running them.
Account Limits and Restrictions
Deposits are FSCS-protected up to £120,000 per eligible depositor. If you hold more than £120,000 at TSB, the excess sits outside FSCS protection. For most operating accounts, that ceiling exceeds working balances.
The payment limits depend on where you make the payment from, and they are tighter than most people expect. Online, a single payment can be £50,000 with £100,000 a day. Through the app it drops to £10,000. An international payment is capped at £75,000 a day. Same-day high-value transfers are the exception: TSB puts no ceiling on those, but you have to go into a branch. Money coming in is capped at £250,000. Cheques through the app are limited to £500 each and £2,500 a day.
App, Online Banking and User Experience
Mobile App Experience
Mobile access covers standard functions only: balance, payments, and transaction history on iOS and Android. No receipt capture, tax estimates, or cash flow forecasting. The digital experience trails fintech challengers measurably.
If you manage most operations from a phone, skip TSB: Starling or Tide are faster and more integrated day-to-day.
Web and Desktop Access
Online banking covers payments, statements, and account management. Open Banking connectivity for Xero and QuickBooks is supported from desktop.
Ease of Day-to-Day Account Management
If you operate electronically and use Open Banking for accounting feeds, day-to-day TSB management is straightforward. The friction appears for businesses that need more than standard banking functions.
When you need to deposit cash on a Saturday, TSB’s branch and Post Office network means you can walk in rather than wait until Monday. That operational difference is the real differentiator from app-only accounts.
Customer Reviews and Reputation
What Customers Like
If customer satisfaction matters in your decision, TSB’s 3.9/5 Trustpilot rating from 27,669 reviews (April 2026) is the strongest of any high-street bank we reviewed. NatWest: 1.4/5. Lloyds: 1.5/5. The gap carries weight.
Positive reviews consistently highlight branch staff quality, which you rarely see flagged in digital-bank reviews. The 3.9/5 score tells you enough customer interactions get resolved to maintain a positive average.
Common Complaints
The main downside from reviewers is account access delays and complaint handling. They exist, but they do not dominate the 3.9 score.
TSB’s 3.9/5 sits below fintech ratings (Starling 4.5, Monzo 4.4) but above all traditional competitors when you compare them. For a high-street institution, that signals a customer experience that mostly works.
Customer Support and Service
Support Channels and Availability
Support options include phone, in-branch assistance, and online contact. The branch network is the structural support differentiator: when you chase a dispute or query a payment, a branch conversation resolves faster than waiting for in-app support.
The business line is 0345 835 3858, open 8am to 6pm Monday to Friday and 9am to 2pm on Saturday, closed on UK public holidays. Internet banking and the app run at any hour, but a person does not. If a payment goes wrong on a Sunday afternoon, you are waiting until Monday morning, where Starling and Monzo answer at 3am.
Help Centre and Self-Service Resources
TSB’s online Business Help Centre covers account management, payments, and common queries. For complex issues, the branch route is typically faster than self-service for relationship banking questions.
Security, Regulation and FSCS Protection
Regulation and Authorisation
Deposits are held with a fully licensed UK bank: TSB Bank plc holds PRA and FCA authorisation. We confirmed this from the FCA Financial Services Register in April 2026.
This puts TSB in the same regulatory class as Barclays, NatWest, and Lloyds. TSB is the right choice over e-money providers if statutory FSCS protection is required, not the contractual safeguarding Tide and Wise use.
FSCS Protection or Safeguarding
Eligible deposits at TSB are protected by the FSCS up to £120,000 per eligible depositor. This is the statutory deposit guarantee, not a contractual e-money safeguarding arrangement.
The gap matters if you hold a large balance, but it is not the guarantee: Tide routes deposits through ClearBank and gets the same statutory cover TSB does, drawn on a £120,000 that ClearBank shares across its other brands. For businesses holding significant working capital, that structural difference is material.
Security Features
The account uses standard UK banking security: chip and PIN, 3D Secure for online card payments, and two-factor authentication.
The Fraud Refund Guarantee TSB used to advertise, and which covered business customers, closed on 6 October 2024. What replaced it is the regulator’s own rules: TSB must refund an eligible fraud claim up to £85,000 and put the money back within five working days. TSB charges no excess on those claims, where the rules allow banks to. Anything outside the rules is now judged case by case, which is a weaker promise than the one it used to make.
Who TSB Business Account Is Best For
Best Use Cases
If you’re starting a business, TSB’s 30-month free period is valuable runway. A business that opens in month one and reaches sustainable revenue by month 12 still has six months free. For startups, that extension matters.
If your business handles cash regularly, TSB’s branch and Post Office network give you a genuine day-to-day advantage. Physical banking infrastructure matters if you take cash payments.
When to Consider Alternatives
Avoid TSB if accounting software is central to your decision. NatWest bundles FreeAgent free for life, and charges no monthly account fee either. What it does charge is 35p on every payment in or out, so the comparison turns on how many payments you make rather than on the software alone.
If permanently free banking is the goal, Starling is free indefinitely and FSCS-protected. TSB costs £30 over the six months between month 31 and month 36, and nothing at all in any month you hold £10,000. Where Starling loses is cash: 0.7% at the Post Office with a £3 minimum, against TSB’s flat 70p per £100.
TSB Business Account vs Alternatives
TSB vs Starling
The cost gap is permanent: Starling charges £0 forever, with zero domestic transfer fees. The digital experience is stronger than TSB’s. We compared both from their respective websites in April 2026.
The free-period advantage disappears at month 31: TSB costs £5/month while Starling remains free. Over three years, that is £135 TSB charges that Starling does not apply.
The split is branch vs digital: TSB for branch access or Post Office cash banking; Starling for zero ongoing cost and a stronger app.
TSB vs Barclays
Barclays gives you 12 months free and the largest branch network in the UK (1,000+ branches vs TSB’s). £8.50/month after the free period. No accounting software bundled.
TSB’s 30 months free vs Barclays’ 12 months gives TSB a 6-month cost advantage worth £51 at Barclays rates. After the free period, Barclays at £8.50/month costs a pound more each month than TSB’s £5.
Barclays suits businesses that need the widest branch network and a fuller lending suite. TSB’s edge is the extended free period.
TSB vs NatWest
The two banks charge in opposite shapes, and that is the whole comparison. NatWest gives two years free, then no monthly fee at all, plus FreeAgent for life across 526 branches. TSB gives 30 months free, then £5 a month, waived whenever your average balance reaches £10,000.
The money is in the transactions, not the fee. NatWest takes 35p on every payment in or out, direct debits and standing orders included, and 95p per £100 of cash. TSB charges nothing for electronic payments and 70p per £100 of cash. A business making 100 payments a month pays NatWest £35 and TSB £5, or nothing if it holds the balance.
So a busy account is cheaper at TSB, and a quiet one is cheaper at NatWest, where the free FreeAgent is worth £174 a year on its own. Trustpilot splits them the other way: TSB 3.9, NatWest 1.4.
Final Verdict: Is TSB Business Account Worth It?
TSB makes sense for startups that need a long runway and for any business that handles cash. 30 months free is the longest offer on the high street, cash costs 70p per £100 where every rival charges more, and the £5 that follows disappears in any month you hold £10,000.
We reviewed TSB as the extended-free-period choice for businesses that need branch infrastructure and can justify the ongoing cost once the free period ends.
If that describes you, TSB delivers. If you want permanently free banking or bundled accounting software, Starling or NatWest are the stronger choices.
Frequently Asked Questions
Is the TSB business account FSCS-protected?
Yes. TSB Bank plc holds a full UK retail banking licence, authorised by the Prudential Regulation Authority (PRA) and regulated by the FCA and PRA. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per eligible depositor per banking licence. We verified this from the FCA Financial Services Register in April 2026.
How does TSB compare to NatWest for business banking?
TSB gives 30 months free, NatWest two years. After that TSB charges £5 a month, waived in any month your average balance is £10,000 or more, and NatWest charges no monthly fee at all. The difference sits in the transactions: NatWest takes 35p on every payment in or out and 95p per £100 of cash, where TSB charges nothing for electronic payments and 70p per £100. NatWest also bundles FreeAgent free for the life of the account, worth £174 a year. TSB has the better Trustpilot rating, 3.9 against 1.4.
Can I pay in cash with a TSB business account?
Yes. TSB allows cash deposits at TSB high-street branches and Post Office counters. Cash deposits cost 70p per £100 deposited. Cheques paid in or out cost 70p each. We took these from TSB’s Business Banking Charges Guide in August 2026. Cheques paid in through the mobile app are free, which is the cheaper habit to build.
How long does it take to open a TSB business account?
TSB’s business account opening is typically slower than app-based challengers such as Starling. Online and branch applications are available. Allow several business days for processing; more complex structures may take longer.
What happens after the 30-month free period ends?
You move onto TSB’s standard tariff: £5 a month, and nothing at all in any month your average balance reaches £10,000. Electronic payments stay free. Cash costs 70p per £100 and cheques 70p each, or free through the app. If you decide TSB no longer suits you, the Current Account Switch Service (CASS) allows a free, guaranteed switch to another bank in 7 working days.
How we reviewed TSB
What we assessed. We evaluated TSB on pricing, contract terms, features, and eligibility. These are the factors that matter most to UK small businesses considering this provider.
Data sources. TSB’s pricing page, terms, and product docs were checked directly in April 2026. No comparison sites, no press releases, no affiliate material. FCA register cross-checked for regulatory status.
Update cadence. We re-verify this page regularly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. We have no affiliate relationship with TSB, see our editorial policy.