The wrong business bank account can eat into profits with hidden fees, clunky systems, or poor support. The right one streamlines cash flow, keeps your books in order, and builds credibility with clients and suppliers.
Whether you want the best free UK business bank account, need FSCS protection up to £85,000, handle regular cash deposits, or manage international transfers, your choice matters. Digital-first challengers like Starling, Tide, and Revolut offer fast setup, low fees, and smart tools. High-street names like HSBC, Lloyds, and Barclays provide branch access and personal service.
In this guide, we cut through the noise by comparing 2025’s top UK business accounts side by side so you can quickly find the one that fits your needs and stop wasting time and money on the wrong provider.
Airwallex Business Account
Wallester Business Account
Tide Free Business Account
- What is the Best Business Bank Account in 2025? Our Verdict
- 15 Best Business Bank Accounts Compared
- The Top 15 Business Bank Account Providers UK
- Revolut Business Basic Account
- Tide Free Business Account
- Starling Bank Business Current Account
- ANNA Money Pay As You Go Account
- HSBC Small Business Bank Account
- Zempler Bank Business Go Account
- Monzo Business Lite Account
- Mettle Business Bank Account
- Allica Bank Business Rewards Account
- Airwallex Business Explore Account
- Co-operative Bank Business DirectPlus Account
- Barclays Business Account for Startups
- Virgin Money M Account for Business
- Lloyds Bank Business Account
- NatWest Business Bank Account
- Do I Need a Business Bank Account?
- Are There Benefits to Using a Business Bank Account?
- Business Bank Account Fees Compared
- How to Choose the Best Business Bank Account for Your UK Business
- Next Steps: Open the Best Business Bank Account for Your UK Business
- Business Bank Account FAQs
What is the Best Business Bank Account in 2025? Our Verdict
In 2025, three providers rise above the rest for UK businesses, each excelling in different but equally crucial areas:
1. Starling Bank – Best All-Rounder
Starling leads for its combination of no monthly fees, complete FSCS protection, and 24/7 human support. The app delivers real-time alerts, seamless integrations, and no UK payment charges, making it ideal for most SMEs and freelancers who want low costs without sacrificing service or features.
2. HSBC – Best for Cash Handling and Branch Access
HSBC ranks second for businesses that rely on physical banking. Its extensive UK branch network, in-person relationship managers, and strong global presence make it the go-to choice for firms that deposit cash or cheques regularly and value the reassurance of a major high-street brand.
3. Airwallex – Best for International Transactions
Airwallex takes third for cross-border commerce. With multi-currency accounts in 20+ currencies, competitive FX rates, and e-commerce platform integrations, it’s built for exporters, online retailers, and service providers trading globally.
While Mettle remains a compelling choice for micro-businesses thanks to its truly free banking and bundled FreeAgent software, the top three above cover the broadest range of business needs and offer the strongest all-round value in their categories.
15 Best Business Bank Accounts Compared
| Provider | Best For | Pricing | FSCS vs Safeguarded | Learn More |
|---|---|---|---|---|
| Revolut Business Basic Account | UK businesses needing international transfers and multi-currency management | From £10/month | Safeguarded (no FSCS) | Visit Revolut |
| Tide Free Business Account | Free UK business bank account for sole traders & startups | Free | FSCS via ClearBank | Visit Tide |
| Starling Bank Business Account | Free UK business bank account with FSCS protection | Free | FSCS | Visit Starling |
| ANNA Money Pay As You Go Business Account | Sole traders & micro-businesses seeking admin automation | Free | Safeguarded (no FSCS) | Visit ANNA Money |
| HSBC Small Business Bank Account | Cash-handling SMEs wanting nationwide branch access | Free | FSCS | Visit HSBC |
| Zempler Bank Business Go Account | SMEs wanting FSCS protection with personal phone support | Free | FSCS | Visit Zempler |
| Monzo Business Lite Account | Sole traders and digital-first SMEs seeking app-based banking | Free | FSCS | Vist Monzo |
| Mettle Business Account | Sole traders and micro-companies needing simple free banking | Free | FSCS | Visit Mettle |
| Allica Bank Business Rewards Account | Established SMEs with high transaction volumes | Free | FSCS | Visit Allica Bank |
| Airwallex Business Explore Account | International transfers and multi-currency accounts | £0 if you deposit £10k+ per month or hold a min balance of £10k, otherwise £19 | Safeguarded (no FSCS) | Visit Airwallex |
| Co-operative Bank Business DirectPlus Account | Socially responsible SMEs seeking free banking | £0 or £7/month (30 months free if >£1k bal.) | FSCS | Visit Co-operative Bank |
| Barclays Business Account | Startups wanting free banking with branch access | 12 months free, then £8.50 | FSCS | Visit Barclays |
| Virgin Money M Account for Businesses | SMEs wanting free banking with cashback | Free | FSCS | Visit Virgin Money |
| Lloyds Bank Business Account | Startups seeking branch support and dedicated advice | Free 12 months, then £8.50/month | FSCS | Visit Lloyds Bank |
| NatWest Business Bank Account | Startups wanting a long Fee-free period with FSCS protection | Free | FSCS | Visit NatWest |
The Top 15 Business Bank Account Providers UK
Revolut Business Basic Account
Best for: UK businesses needing low-cost, high-speed international transfers
Why We Picked It: Revolut is a leading choice for UK business accounts for international transfers, serving over 500,000 business customers worldwide. It supports 35+ currencies with local GBP, EUR, and USD account details, offering FX rates as low as 0.4% above interbank within plan allowances. Many UK and international payments clear in under two hours, making it ideal for exporters, e-commerce sellers, and global service providers.
Revolut integrates with Xero, QuickBooks, Shopify, and WooCommerce, streamlining accounting and sales operations. Unlimited team access and an open API on all plans are rare features among UK fintechs. The account is safeguarded, not FSCS-protected, so deposits are held in a separate client account rather than covered by the Financial Services Compensation Scheme (FSCS).
Awards/Recognition: Frequently listed among top fintech business accounts in Europe (e.g., TechRadar “Best Business Bank 2024” for international payments).
Key Account Features
Manage balances in 35+ currencies with local GBP, EUR, and USD accounts.
Market-leading FX rates within plan allowances; transparent fees beyond allowance
Fast payments, many UK and international transfers clear in under 2 hours
Integrates with Xero, QuickBooks, Shopify, WooCommerce
Unlimited team access with role-based permissions
Free virtual and physical cards with instant freeze/unfreeze
Branded invoicing with payment links and recurring billing
“Pockets” budgeting tool for tax segregation and project funds
Bulk payments for suppliers and payroll
AI-powered fraud detection with instant transaction alerts
Flexible open API for ERP, payroll, and CRM integrations
International payment tracking for SWIFT transfers
Pros & Cons
- Market-leading FX rates for 35+ currencies
- Payments often clear in under two hours
- Unlimited team access on all plans
- Strong accounting and e-commerce integrations
- Deposits are protected via safeguarding, not FSCS, and are not covered by the £85,000 FSCS limit.
- No cash or cheque deposit options
- Some premium tools and FX rates require higher-tier plans.
- Not suitable for businesses heavily reliant on in-branch banking
Pricing
| Service | Fee |
|---|---|
| Monthly Fee | From £10 |
| Local Transfers | 10 free per month, then 20p each |
| International Transfers | £5 each + SWIFT transfer fees |
| ATM Withdrawals | 2% per withdrawal |
Who Can Apply?
You must be at least 18 years old.
Your business must have a physical presence in the UK, EEA or Switzerland.
You must be a private limited company, public limited company, Limited Liability partnership or partnership.
Charities/trusts and other high-risk organisations are not eligible.
Businesses operating from outside the supported countries are excluded.
>> Read our full Revolut Business Account Review here!
Tide Free Business Account
Best for: Sole traders, freelancers, and startups wanting a fast, free account with built-in admin tools
Why We Picked It: Tide is a top choice for the best free UK business bank accounts and business accounts for sole traders, serving over 575,000 UK business customers. It offers no monthly fee, fully digital onboarding in under 10 minutes, and bundled tools for invoicing, expense tracking, and receipt capture. Tide integrates with Xero, QuickBooks, FreeAgent, and Sage, helping businesses automate bookkeeping from day one.
While Tide accounts are safeguarded under e-money regulations rather than FSCS-protected, this structure prevents misuse of client funds but does not provide compensation under the £85,000 FSCS limit. The account’s unique selling point is that you can register your company and open your business account entirely in-app, making it ideal for mobile-first entrepreneurs.
Awards/Recognition: Frequently ranked among UK fintech leaders for small business accounts and startups (e.g., FinTech Awards 2024 “Best Business Account”).
Offer: New customers who open an account using code BCA100 can get £100 cashback.
Key Account Features
No monthly fee on the free plan
Account opening in under 10 minutes via smartphone
Integrated invoicing with branding and payment reminders
Direct sync with Xero, QuickBooks, FreeAgent, Sage
Expense categorisation and receipt scanning
Cash deposits via Post Office (0.99%) and PayPoint (3%)
Business Mastercard for UK and international payments
Multi-user access on paid plans
Credit options: cash flow loans and invoice finance (eligibility applies)
“Pots” for tax, savings, or project funds
Partner marketplace discounts on insurance, marketing, and software
Instant transaction alerts and in-app fraud controls
Pros & Cons
- No monthly fee, perfect for cost-conscious businesses
- Quick sign-up in minutes with minimal paperwork
- Strong invoicing and expense management tools included
- Works with all major accounting software
- 20p per transfer can be costly for high-volume users
- Limited phone support on the free plan
- International transfers incur restrictions and fees.
- Not suitable for businesses handling large volumes of cash or frequent high-value transfers
Pricing
| Service | Cost |
|---|---|
| Monthly Fee | £0 |
| Bank Transfers | 20p each |
| International Transfers | 20p per transfer + 1.50% FX fee |
| Cash Deposit (Post Office) | 0.99% (minimum £2.50) |
| Cash Deposit (PayPoint) | 3% |
| ATM Withdrawals | £1 |
Who Can Apply?
You must be at least 18 years old.
You must have a valid UK phone number.
You must have a device that can access the UK Apple App Store or Google Play Store.
You must be either the director of an active company registered with UK Companies House or a sole trader/freelancer registered with HMRC.
Charities/trusts and other high-risk industries are not eligible.
Businesses operating from outside the UK are excluded.
>> Read our full Tide Business Account Review here!
Starling Bank Business Current Account
Best for: SMEs, sole traders, and freelancers wanting a free, FSCS-protected account with award-winning service and 24/7 support
Why We Picked It: Starling is one of the best free UK business bank accounts and a top choice for business bank accounts with FSCS protection, serving over 520,000 UK business customers. It is protected up to £85,000 under the Financial Services Compensation Scheme (FSCS), giving deposit security that many fintech rivals cannot match. Starling has won Best British Bank six years running, reflecting its strong customer satisfaction and reliability.
Payments typically clear in under two hours, supporting smoother cash flow. The award-winning app provides real-time insights, instant notifications, and easy integration with accounting platforms like FreeAgent, Xero, and QuickBooks. The optional Business Toolkit (£7/month) adds invoicing, VAT tracking, and tax calculation, which helps grow SMEs and sole traders.
Key Account Features
No monthly fee for the standard account
Protected up to £85,000 under FSCS
Instant payment notifications and real-time spending insights
24/7 UK-based human support via phone, live chat, or email
Integration with FreeAgent, Xero, and QuickBooks
Optional Business Toolkit for invoicing, VAT, and tax (£7/month)
Cash deposits via Post Office (0.7%, min £3)
Cheque deposits via mobile scan or Post Office
Multi-user access with role-based permissions
Euro account option for EUR payments
Secure mobile and desktop banking with biometric login
Pros & Cons
- No monthly fee for the core account
- FSCS-protected up to £85,000
- Multi-award-winning app with advanced budgeting and reporting tools
- 24/7 UK-based human customer service
- Quick, fully digital onboarding
- Cash deposits incur fees (0.7%, min £3)
- No physical branches for in-person banking
- Past FCA fines may concern highly risk-averse customers.
- Not suitable for businesses heavily reliant on cheques or in-branch services
Pricing
| Service | Cost |
|---|---|
| Monthly Maintenance | £0 |
| UK Payments | £0 |
| Cash Deposits (Post Office) | 0.7% (min £3) |
| Business Toolkit Add-on | £7 per month |
Who Can Apply?
All directors with access to the account must be at least 16 years old and UK residents.
All Persons of Significant Control must be UK residents and natural persons.
You must be either a sole trader or the director of a limited company or LLP registered with Companies House.
The business must not be a holding company, dissolved, or in liquidation.
Businesses operating from outside the UK are excluded.
Charities/trusts and high-risk businesses are not eligible.
>> Read our full Starling Business Account review here!
ANNA Money Pay As You Go Account
Best for: UK sole traders and freelancers who want a no-monthly-fee, admin-focused account that automates tax, invoicing, and expenses
Why We Picked It: ANNA Money is a leading choice among business accounts for sole traders, trusted by over 100,000 UK small businesses and freelancers as of 2025. It has earned high Trustpilot ratings and press recognition for its automation-first approach, streamlining invoicing, tax reminders, and expense management. Account setup takes under 10 minutes, and Cardiff-based 24/7 support responds in about 40 seconds, ensuring rapid assistance.
While ANNA does not offer FSCS protection, it safeguards funds in segregated accounts, protecting them from misuse. This trade-off offers security for day-to-day operations but differs from FSCS-backed accounts, which provide deposit compensation if the provider fails. ANNA doubles as a mobile accounting assistant, handling bookkeeping tasks alongside standard banking features.
Key Account Features
Pay-as-you-go account with a £0 monthly fee on the entry plan
Automated invoicing, receipts, and HMRC-linked tax reminders
24/7 UK-based support, average response ~40 seconds
Integration with Xero, QuickBooks, FreeAgent, and Sage
Mobile receipt capture and automatic expense categorisation
Virtual and physical debit cards for instant spending
Company registration and account setup take under 10 minutes.
“Pots” feature for segregating tax or savings funds
Up to 40% cashback on select business purchases
Live business dashboard with payment links, QR invoicing, and bulk payments
Pros & Cons
- Truly admin-light: invoicing, expenses, and tax in one app
- No monthly fees on the entry plan, strong contender for best free UK business bank account
- Fast setup is often ready in under 10 minutes.
- High customer satisfaction with instant 24/7 support
- Bundled extras like partner discounts and cashback offers
- 0.95% incoming payment charge makes it less ideal for high turnover
- No overdraft or traditional lending products available
- Limited deposit and cash handling options
- May not suit businesses requiring FSCS protection, branch access, or frequent international transfers
Pricing
| Service | Fees |
|---|---|
| Monthly Fee | £0 |
| Payments In | 0.95% |
| International Payments | 1% currency conversion fee |
Who Can Apply?
You must be at least 18 years old.
You must be a sole trader, a director of a limited company (and listed on Companies House) or a partner in a Limited Liability Partnership (LLP).
You must have a UK residential address.
Charities/trusts and other high-risk businesses are not eligible.
Businesses not based in the UK are excluded.
>> Read our full ANNA Money Business Account review here!
HSBC Small Business Bank Account
Best for: SMEs that handle cash-intensive operations, want FSCS-protected business accounts, and value nationwide branch access with lending options.
Why We Picked It: HSBC serves over 1 million UK business customers and earned multiple SME banking awards, including recognition for service and innovation in 2024. Its extensive branch network and access to 11,500+ Post Office locations make it ideal for cash-heavy retailers, hospitality firms, and service providers.
New businesses benefit from a free introductory banking period, while the “My Business Finances” tool offers cash flow, budgeting, and tax tracking. With overdrafts, loans, commercial mortgages, and international trade services available under one roof, HSBC is a long-term partner for SMEs prioritising stability, lending, and physical service, even if international payment fees are higher than those of fintech competitors.
Key Account Features
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Nationwide branch network + Post Office deposit/withdrawal access
My Business Finances tool for cash flow, budgeting, and tax planning
Overdrafts, business loans, and commercial mortgages (subject to approval)
Free introductory banking period for new businesses
Online, mobile, and telephone banking with multi-user access
Sector-specific advice for retail, healthcare, and manufacturing
Merchant services for in-store and online payments
International trade services, including letters of credit and export finance
Integration with accounting tools via CSV and open banking
Pros & Cons
- Global brand trusted by over 1 million UK businesses
- Nationwide branch and Post Office network for deposits and support
- FSCS-protected deposits for security and peace of mind
- Full suite of lending products, including trade finance
- Free monthly account fee for standard digital services
- Higher international payment fees than many fintech competitors
- Limited integration with modern accounting tools
Pricing
| Service | Cost |
|---|---|
| Monthly Account Fee | £0 |
| UK Digital Transactions | £0 |
| Cash Deposits | 1.50% per transaction |
| Cheque Handling | 50p each |
| International Payments | Varies by destination |
Who Can Apply?
- You must be at least 18 years of age and reside within the UK.
You must be a sole trader or the sole director of a limited company operating within the UK.
You must have an annual income of no more than £6.5m.
Businesses operating from outside of the UK, within the Isle of Mann or the Channel Islands, are not eligible.
>> Read our full HSBC Business Account review here!
Zempler Bank Business Go Account
Best for: UK SMEs and sole traders who value FSCS-backed security, low-cost digital banking, and direct phone-based support
Why We Picked It: Zempler is a growing challenger bank providing one of the few FSCS-protected business accounts among digital-first providers. Trusted by thousands of UK SMEs, it has been recognised in recent industry customer service surveys for its responsiveness and personal support. The Business Go Account has no monthly fee, includes three free UK transfers per month, and offers an optional overdraft facility, which is uncommon for challenger banks.
Payments are processed efficiently, with UK transfers typically clearing in under two hours. Integration with Xero and QuickBooks makes accounting seamless. Zempler offers the reassurance of FSCS protection up to £85,000 per business, alongside the comfort of human phone support during business hours.
Key Account Features
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
No monthly maintenance fee for the Business Go Account
The first three UK transfers are free per month, then 35p each.
Optional overdraft facility (subject to credit approval)
Integration with Xero and QuickBooks for automated reconciliation
Dedicated UK-based phone support during business hours
Online and mobile banking with real-time notifications
Payments to both UK and international accounts are supported.
Open banking is enabled for secure third-party integrations.
ATM withdrawals are £2 per transaction in the UK
Pros & Cons
- FSCS-protected deposits for added security
- No monthly fee with low ongoing transaction costs
- Personalised phone support is rare among digital banks.
- Optional overdraft for cash flow flexibility
- Strong accounting software integrations
- Phone support is not available 24/7
- Transaction fees apply beyond the free allowance.
Pricing
| Fee Type | Details |
|---|---|
| Monthly Fee | Free |
| UK Transfers | First 3 free, then 35p each |
| Cash Withdrawals | £2 per UK transaction, £3.00 per transaction abroad |
| Pay in Cash | 0.55% (min £4) |
| Overdraft Facility | Subject to approval, variable rates |
Who Can Apply?
You must be at least 18 years old and have a UK residential address.
You must be a sole trader, director of a limited company, a charity or a partnership based in the UK.
Sole traders cannot be registered at UK Companies House. Limited Companies must have no more than 4 PSCs registered with Companies House.
High-risk organisations are not eligible.
Businesses operating from outside the UK are excluded.
>> Read our full Zempler Business Account Review here!
Monzo Business Lite Account
Best for: UK sole traders, freelancers, and digital-first SMEs seeking a low-cost, FSCS-protected account with intuitive mobile banking and automated budgeting tools
Why We Picked It: Monzo is one of the most recognisable UK business bank accounts for sole traders and small limited companies, serving over 300,000 business customers. It combines FSCS protection up to £85,000 per business with a highly intuitive mobile app, making day-to-day banking and budgeting simple.
Key features include instant transaction alerts, automated “Tax Pots” for VAT and self-assessment, and rapid account opening in minutes. Paid tiers unlock built-in invoicing, multi-user access, and advanced permissions, offering a scalable path for growing businesses.
Key Account Features
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Over 300,000 UK business customers
Instant payment notifications and real-time spending insights
“Tax Pots” automatically set aside VAT or self-assessment funds.
Fee-free UK card spending and domestic transfers
Built-in invoicing tools on Pro (£9) and Team (from £25) plans
Multi-user access with role-based permissions on higher tiers
Integration with Xero, QuickBooks, and other accounting software
Mobile cheque deposit for eligible customers
Quick setup, account approval in minutes for most applicants
Pros & Cons
- FSCS-protected deposits for peace of mind
- Highly simple and easy to use app with budgeting and payment tracking
- Fee-free UK card transactions and domestic transfers
- Fast account opening with transparent pricing
- Upgrade path from sole trader to limited company without reapplying
- Limited lending for limited companies
- Not ideal for frequent cash or cheque deposits
- Previous FCA fine for AML controls may concern risk-averse businesses.
Pricing
| Service | Fee |
|---|---|
| Monthly Fee | £0 |
Who Can Apply?
You must be at least 16 years of age.
You must be a sole trader or the director of a limited company registered with Companies House, you must be based in the UK.
You must be a tax resident in the UK only.
LLPs, PLCs, charities and high-risk organisations are not eligible.
Businesses operating from outside the UK are excluded.
>> Read our full Monzo Business Account review here!
Mettle Business Bank Account
Best for: Sole traders, freelancers, and micro-companies seeking a completely free FSCS-protected account with premium accounting software and mobile-first banking
Why We Picked It: Mettle, the digital business account from NatWest, serves over 100,000 UK business customers and combines 100% free day-to-day banking with FSCS protection up to £85,000 per business. Its standout perk is a FreeAgent accounting software subscription (worth £150+ annually), making it ideal for business accounts for sole traders and micro-companies looking to cut admin and reduce costs.
With no monthly fees, free UK transfers, and an intuitive mobile-first app, Mettle offers one of the best-value business banking packages. Payments are processed quickly, with UK transfers typically clearing within 1–2 hours.
Key Account Features
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS) via NatWest’s banking licence
Over 100,000 UK business customers
Free FreeAgent subscription (worth £150+ annually)
No monthly fees or domestic transfer charges
Instant payment notifications and expense categorisation
Integration with Xero, QuickBooks, and FreeAgent
Cash deposits via Post Office branches (limits apply)
Quick, paperless account opening through the mobile app
Payment scheduling and bill reminders
Secure biometric login and fraud monitoring
Pros & Cons
- 100% free everyday business banking, no monthly or transfer fees
- Premium accounting software is included at no cost.
- FSCS deposit protection for added security
- Backed by NatWest, providing trust and stability
- Quick, paperless setup via mobile app
- No lending products (overdrafts or loans)
- Cannot make international payments or hold foreign currency accounts
- Limited to companies with up to two owners
Pricing
| Feature | Cost |
|---|---|
| Monthly Fee | £0 |
| UK Transfers | £0 |
| International Payments | Not supported |
Who Can Apply?
You must be a UK resident and at least 18 years of age.
You must be a sole trader or a limited company with a maximum of two owners.
You must have a main account balance not exceeding £1m.
You must have a UK phone number.
You must have an iOS device running iOS 13 or later or an Android device running Android 7.0 or later.
You must pay tax and only be a tax resident in the UK.
Businesses operating from outside the UK are excluded.
PLCs, charities and high-risk organisations are not eligible.
>> Read our full Mettle Business Account review here!
Allica Bank Business Rewards Account
Best for: Established SMEs seeking FSCS-protected business banking with high payment limits, personalised relationship management, and tailored lending options
Why We Picked It: Allica Bank serves over 20,000 UK SMEs (2024) and combines FSCS protection up to £85,000 per business with fee-free everyday banking and higher-than-average payment limits. Its standout feature is direct access to a dedicated relationship manager. It provides personalised guidance and faster lending decisions, making it ideal for UK business accounts for established SMEs with high transaction volumes.
Payments are processed efficiently, with UK Faster Payments typically clearing in under 2 hours. With sector-specific expertise, competitive lending options, and multiple accounts under one login, Allica provides the service depth of a high-street bank without the bureaucracy.
Key Account Features
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Instant access savings pots offer up to 4.08% AER (variable)* interest, with daily calculations and monthly payouts. *Rate includes standard rate of 3.08% AER (minimum balance applies) plus a 0.5% boost each month if you make 15 bank transfers out of the account in the previous month, and a 0.5% boost for six months if you complete a switch with CASS. Eligibility criteria and T&Cs apply.
20,000+ UK SME customers
No monthly account fees for standard UK transactions
Higher payment and transfer limits than most SME accounts
Dedicated relationship manager for every customer
Sector-specific expertise for growth and financing needs
Competitive lending: commercial mortgages, asset finance, working capital facilities (subject to approval)
Multiple accounts under one login for streamlined cash management
UK-based support via direct phone and email
Online portal optimised for SME workflows.
Pros & Cons
- No monthly fees for standard UK transactions
- High payment limits, ideal for large-volume businesses
- Dedicated relationship manager for personalised support
- FSCS deposit protection for peace of mind
- Tailored lending options for established SMEs
- No cash or cheque deposit facilities
- Strict eligibility criteria exclude startups and early-stage businesses.
Pricing
| Service | Fee |
|---|---|
| Monthly Fee | £0 |
| Faster Payments | £0 |
| International Payments | Wise transfer fee + exchange rate |
| Cash Deposits | Not supported |
| Cheque Deposits | Not supported |
Who Can Apply?
- You must be a UK resident and aged 18 or older.
- You must have a minimum balance of £50,000 or more in your account or must have a loan product with Allica. Businesses keeping less than £50,000 in their account will earn a reduced rate of interest and may incur fees
- Your business must be incorporated for at least 12 months.
- Businesses operating from outside the UK are excluded.
>> Read our full Allica Bank Business Account review here!
Airwallex Business Explore Account
Best for: Businesses needing UK business accounts for international transfers, multi-currency management, and low-cost FX, including e-commerce sellers, exporters, and digital service providers.
Why We Picked It: Airwallex is trusted by over 100,000 businesses worldwide and has won multiple fintech innovation awards, including the 2024 FinTech Breakthrough Award for Best Cross-Border Payments Platform. It is purpose-built for global trading and offers 20+ local currency accounts that can be opened in minutes without visiting a branch.
Its key strengths are competitive FX rates (0.5–1% above interbank), faster settlement via local rails (ACH in the US, SEPA in the EU), and direct integrations with platforms like Shopify, Amazon, Xero, and QuickBooks. This makes it ideal for UK businesses needing fast, low-cost international transfers, multi-currency employee cards, and automated accounting reconciliation.
Key Account Features
20+ local currency accounts for sending and receiving payments
Transparent FX rates, typically 0.5–1% above interbank
Payments clear in under 1–2 days via local rails in major markets
Multi-currency virtual and physical employee cards with spend controls
E-commerce integrations: Shopify, Amazon, WooCommerce
Accounting integrations: Xero, QuickBooks for automated reconciliation
Batch payments to suppliers/contractors in multiple countries
Role-based permissions for secure team spending
Free Explore plan available, with paid tiers for higher volumes
In-platform reporting for currency exposure and transaction history
Pros & Cons
- Specialist in multi-currency business accounts
- Transparent FX pricing with low margins
- Faster settlement for international transfers
- Deep e-commerce and accounting integrations
- Flexible pricing, free Explore plan available
- Funds safeguarded, not FSCS-protected
- Email-led support may be slower for urgent queries.
- Some advanced features require a paid plan
Pricing
| Service | Fee |
|---|---|
| Monthly Fee | £0 if you deposit £10k+ per month or hold a min balance of £10k, otherwise £19 |
| FX Fee | 0.5% above interbank rates for major currencies, 1% for all others |
| SWIFT Fee | £10 to £20 |
Who Can Apply?
You must be over 18 years old
You must be a business operating within one of the supported countries/regions
Your business must be registered and have a physical address
Charities and other high-risk organisations are not eligible
>> Read our full Airwallex Business Account review here!
Co-operative Bank Business DirectPlus Account
Best for: Startups, sole traders, and SMEs seeking the best free UK business bank account with an ethical focus, and charities wanting a blend of branch and online services
Why We Picked It: The Co-operative Bank combines one of the longest free UK business bank account offers, up to 30 months, with a publicly stated ethical policy that excludes lending to sectors such as fossil fuels, arms manufacturing, and gambling. This values-led approach appeals to socially conscious SMEs, sole traders, and charities looking for banking aligned with sustainability and social responsibility.
Its unique selling point is the blend of physical branch access for cash and cheque handling with flexible digital banking, making it suitable for businesses that value both. Deposits are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS), with competitive tariffs after the free period and a dedicated business support team to assist with everyday banking.
Key Account Features
Up to 30 months free banking for eligible new customers
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Ethical lending and investment policy, excluding fossil fuels, arms, and gambling
UK branch network for cash and cheque deposits
Secure online and mobile banking, including cheque imaging in some branches
Business overdrafts available (subject to approval)
Dedicated business support line
Pay-as-you-go pricing after the free period to match activity levels
Integration with selected accounting software
Pros & Cons
- One of the longest free banking offers in the UK
- Clear ethical and socially responsible business policy
- FSCS-protected deposits for added security
- Branch services plus online banking flexibility
- Suitable for not-for-profits and community enterprises
- £7 monthly fee if balance drops below £1,000, even in free period
- The digital platform is less advanced than the leading fintech challengers.
- Transaction charges apply after free thresholds.
Pricing
| Service | Fee |
|---|---|
| Monthly Fee | £0 for first 30 months if balance ≥ £1,000, else £7 |
| Cash Deposit | £1,000 free per month then 80p per £100 |
| Cheque Deposit | 25 free per month, then 75p per cheque |
Who Can Apply?
You’re a sole trader or have a partnership, limited liability partnership or limited company.
Where your organisation is a limited company, the director must never have been disqualified, the business must never have been subject to insolvency or an intention to dissolve, and the business has not had a negative net worth in the last set of financial accounts.
You and all key individuals are at least 18 years old.
You and all key individuals are UK residents
You have a UK business address.
All key individuals are free from county court judgements, bankruptcy and individual voluntary agreements for the last 6 years.
All key individuals are free from missed payments on any personal credit obligations in the last 6 months.
>> Read our full Co-operative Bank Business Account review here!
Barclays Business Account for Startups
Best for: Startups and SMEs seeking the best free UK business bank account with branch access, integrated accounting, and lending options
Why We Picked It: Barclays is one of the UK’s most established business banks, serving over 1 million UK business customers. Its Eagle Labs innovation programme supports startups with workspace, mentoring, and networking opportunities. The account offers 12 months’ free UK business banking, an extensive branch network for cash and cheque deposits, and integrated digital tools, including a free first-year subscription to FreshBooks (£120+ value).
Processing speeds for Faster Payments are typically under two hours, while its range of overdrafts, loans, merchant services, and sector-specific advice makes it suitable for startups and growing SMEs. Deposits are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS), offering reassurance for FSCS-backed accounts. While standard fees apply after the introductory period, and its history includes past FCA fines, Barclays’ combination of heritage, FSCS protection, and business growth support makes it a dependable high-street choice.
Key Account Features
12 months’ free digital business banking for new customers
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Integration with FreshBooks for the first 12 months (worth £120+)
Nationwide branch network for cash and cheque deposits
Eagle Labs programme: workspace, mentoring, and business events
Overdrafts, loans, and asset finance available (subject to approval)
Multi-user access with role-based permissions
Online and mobile banking with real-time alerts and payment scheduling
Foreign currency accounts and international transfers
Merchant services via Barclaycard
Pros & Cons
- 12 months’ free UK business banking for new accounts
- Extensive branch network ideal for cash-handling businesses
- FSCS-protected deposits up to £85,000
- Free FreshBooks subscription in year one
- Access to Eagle Labs for growth support
- £8.50 monthly fee after free period
- Past FCA fines may deter some risk-conscious users.
- Transaction fees can mount for high-volume cash/cheque handling.
- Not suitable for businesses wanting fully digital banking
Pricing
| Features | Cost |
|---|---|
| Monthly Fee | £0 first 12 months, then £8.50 |
| Digital Payments | Free |
| Cash Handling | 60p per £100 |
| Cheque Handling | 60p per cheque |
Who Can Apply?
-
You are at least 18 years old.
You have the right to live in the UK permanently.
As of August 2024, Barclays only accepts applications for current accounts from sole traders and limited companies.
You have been trading for less than 12 months.
You have at least 12 months of UK address history.
If your business is a limited company, it can’t have more than 10 (including you) directors, shareholders or company secretaries.
>> Read our full Barclays Business Account review here!
Virgin Money M Account for Business
Best for: Sole traders, startups, and SMEs seeking the best free UK business bank account with cashback, FSCS protection, and simple, cost-effective banking
Why We Picked It: Virgin Money’s M Account for Business is one of the few UK business bank accounts offering cashback, up to 0.25% on eligible debit card spending. This makes it ideal for SMEs using their cards to reduce everyday costs. It combines fee-free everyday banking for firms with turnover under £1m, FSCS-protected deposits up to £85,000, and a modern mobile banking experience.
Key selling points include its cashback perk, free UK payments, fast processing (Faster Payments usually clear in under 2 hours), and integration with popular accounting tools like Xero. While the £1m turnover cap limits scalability for rapidly growing firms, Virgin Money remains a strong choice for sole traders and cost-conscious SMEs who want a blend of digital convenience and basic branch access.
Key Account Features
No monthly account fee for eligible businesses (turnover under £1m)
Up to 0.25% cashback on eligible debit card purchases
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Free UK payments, direct debits, and standard transfers
Business overdraft available (subject to approval)
Mobile app with real-time alerts and secure card management
Online banking with payment scheduling and transaction insights
Cheque imaging for fast deposit via the app
Integration with Xero and other accounting software
Access to select branches for in-person services
Pros & Cons
- No monthly fee for eligible businesses
- Cashback on card spend offsets everyday costs
- FSCS protection up to £85,000
- Free UK payments and transfers
- Simple, fast account opening
- 2.75% fee on foreign currency transactions
- £1m turnover cap limits suitability for larger firms
- Smaller branch network compared with a large high-street bank.
- Not suitable for businesses heavily reliant on cash deposits
Pricing
| Feature | Cost |
|---|---|
| Monthly Fee | £0 |
| Cash Deposits | 0.90% per £100 |
| Foreign Currency Spend | 2.75% per transaction |
Who Can Apply?
- You must be 18 years old.
You must be the owner/director of your business, which must be based and operate in the UK (except the Channel Islands, Isle of Man, and NI).
At least one business owner needs to be a UK resident.
You must have a maximum annual turnover of no more than £1 million to apply for an M Account or no more than £6.5 million for the Business Current or Choice Accounts.
You must not be currently bankrupt.
You must not have ever been disqualified as a company director.
Businesses operating from the Channel Islands, Isle of Mann, NI or outside the UK are excluded.
Charities, those holding clients’ money and high-risk organisations are not eligible.
>> Read our full Virgin Money Business Account review here!
Lloyds Bank Business Account
Best for: Startups and SMEs seeking the best free UK business bank account with FSCS protection, in-branch support, and lending options
Why We Picked It: Lloyds Bank offers one of the best free UK business bank account packages for startups, providing 12 months of fee-free banking for new customers and up to 100 free transactions during the introductory period. Its deposits are protected up to £85,000 under the Financial Services Compensation Scheme (FSCS), and it offers an extensive branch network and access to dedicated business managers, making it ideal for SMEs that value personalised, in-person support alongside robust online tools.
Key selling points include various account options, Business Finance Assistant software for invoicing, VAT, and expense tracking, and strong lending capabilities. Most Faster Payments clear in under two hours, and Lloyds serves over 1 million business customers, making it one of the UK’s largest SME banking providers. While post-introductory fees can add up, the combination of heritage, FSCS-backed deposits, and full-service business support makes Lloyds a dependable choice for small and growing firms.
Key Account Features
12 months of free day-to-day business banking for new customers
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Up to 100 free transactions in the introductory period
Dedicated business managers for ongoing financial guidance
Business Finance Assistant for invoicing, VAT, and expense tracking
Loans, overdrafts, and asset finance (subject to approval)
Large branch network for cash deposits and cheque handling
Sector-specific advice (e.g., healthcare, agriculture, retail)
Online and mobile banking with real-time alerts
Secure card management with spend controls and instant freeze/unfreeze
Pros & Cons
- 12-month free banking period for eligible startups
- Access to dedicated business managers for personalised guidance
- Extensive UK branch network for in-person support
- FSCS protection up to £85,000
- Broad product range, including lending and merchant services
- £8.50 monthly fee after free period ends
- Limited third-party software integrations
- Some processes are slower than fintech competitors.
Pricing
| Feature | 12 month Intro Period | After Intro Period |
|---|---|---|
| Monthly Fee | £0 | £8.50 |
| Transactions | 100 free per month | 100 free per month |
| Cash Deposits | 85p–£1.50 per £100 | 85p–£1.50 per £100 |
| Cheque Deposits | 12-month Intro Period | 85p – £1 each |
Who Can Apply?
You must be at least 18 years old
You are a sole trader or the only director of a limited company
You have an annual turnover of less than £25 million
Only one person needs to access the account
You are a UK resident
Your business is based in the UK
You are applying for your first bank account with Lloyds
>> Read our full Lloyds Bank Business Account review here!
NatWest Business Bank Account
Best for: Startups and SMEs seeking the best free UK business bank account with FSCS protection, extended fee-free banking, branch support, and bundled accounting software
Why We Picked It: NatWest offers one of the longest free UK business bank account periods in the market, with two years of no standard transaction fees for eligible new customers. Serving over 850,000 business customers, NatWest has earned recognition for its SME support programmes, including Tyl by NatWest for card payments and the Entrepreneur Accelerator for business growth.
It’s bundled with FreeAgent accounting software (worth £150+ per year), and a dedicated relationship manager provides practical support for startups managing invoicing, cash flow, and VAT. Most Faster Payments clear in under two hours, ensuring efficient daily operations. While international transfer fees are higher than some fintech providers, extended fee savings, branch access, and robust app functionality make NatWest a strong option for small and growing firms.
Key Account Features
Two years of free standard UK transactions for eligible new customers
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS)
Bundled FreeAgent accounting software subscription included
Dedicated relationship manager for personalised advice
Large UK branch network for cash deposits and cheque handling
Online and mobile banking with real-time alerts and card controls
Overdrafts, loans, and asset finance available (subject to approval)
Merchant services via Tyl by NatWest
Cheque imaging via mobile app for faster processing
Multi-user access with permission controls
Sector-specific advice for industries such as agriculture, healthcare, and property
Pros & Cons
- Two-year free banking, one of the longest offers in the UK
- Bundled FreeAgent accounting software included
- Dedicated relationship manager for personalised support
- Large UK branch network for in-person banking
- FSCS protection up to £85,000
- Higher international transfer fees than fintech rivals
- Mixed customer service feedback
Pricing
| Service | 24-Month Intro Period | After Intro Period |
|---|---|---|
| Monthly Account Fee | £0 | £0 |
| Standard UK Transactions | £0 | 35p each |
| International Transactions | 2.75% FX fee + payment method fee | 2.75% FX fee + payment method fee |
Who Can Apply?
You must be aged 18+.
At least one person on the application must be a UK resident.
You must be a sole trader or the owner/director of your company.
Your business has an annual turnover of either more than £1 million or below £1 million but has been trading for over a year.
Your business must be registered for tax purposes in the UK.
You haven’t been declared bankrupt or received a County Court Judgment or Court Decree.
Businesses operating from outside the UK are excluded.
High-risk organisations are not eligible.
>> Read our full NatWest Business Account review here!
Review Methodology
Our comparison table primarily features challenger banks and e-money institutions in our best business accounts shortlist.
This decision is supported by our rigorous research methodology, proprietary rating system, and an awareness of broader market trends.
Notably, digital banks in the UK have seen a remarkable 659% increase in users, growing from 2.9 million to 19.1 million between 2018 and 2023, indicating a significant shift towards digital-only banking.[2]
Do I Need a Business Bank Account?
You need a business bank account if:
- Your business is a limited company registered at Companies House.
You might not need a business bank account if:
- You are a sole trader or working as a freelancer or contractor and not operating through a limited company.
Read more about: Do I need a business bank account?
Are There Benefits to Using a Business Bank Account?
A dedicated business bank account is more than a formality; it’s a strategic tool for UK sole traders and SMEs. Choosing the right account, whether one of the best free UK business bank accounts or a provider offering international transfers, can deliver clear advantages for daily operations, tax compliance, and long-term growth.
Clear Financial Separation for Sole Traders and SMEs
Keeping business and personal finances separate removes confusion, simplifies bookkeeping, and ensures every transaction is correctly recorded. This is particularly important for sole traders’ business accounts. During the VAT quarter or year-end, accounting software integration, such as the free FreeAgent subscription included with NatWest, makes reconciliations quicker and more accurate.
Enhanced Professional Credibility
Using a business account signals professionalism and financial stability to clients and suppliers. This can improve supplier terms, increase contract opportunities, and strengthen trust. For instance, Starling’s business accounts for sole traders include features that streamline client payments and demonstrate credibility to partners.
Better Cash Flow Oversight
Many of the best free UK business bank accounts provide tools for budgeting, spending categorisation, and real-time transaction tracking. Consolidating all inflows and outflows in one account enables accurate forecasting, helps avoid overspending, and makes chasing late payments easier. Providers like ANNA, Starling, and Mettle integrate seamlessly with accounting platforms to automate reporting and VAT tracking.
Simplified Tax and Regulatory Compliance
A dedicated business account simplifies HMRC reporting and helps ensure regulatory compliance. Some accounts, such as those from ANNA, Starling, and NatWest, offer direct integration with accounting software, allowing automated VAT calculation and easy record-keeping, a vital feature for business bank accounts with FSCS protection.
Improved Access to Finance and Lending
A clear record of transactions strengthens applications for loans, overdrafts, or other credit facilities. Lenders value transparency, and accounts with established histories, such as those from Lloyds and Barclays, demonstrate a proven financial track record. Businesses requiring international transfers may benefit from providers like Revolut or Airwallex, which support multi-currency operations while maintaining detailed transaction histories.
Read more about: The benefits of business bank accounts
Business Bank Account Fees Compared
Business banking costs vary widely; even minor charges erode profits over time. Understanding the full fee picture is essential whether you’re searching for the best free UK business bank account, comparing business accounts for sole traders, or reviewing UK business accounts for international transfers.
Main Costs to Watch
- Monthly account fees are the fixed cost of keeping your account open. Many high-street banks charge after an introductory period, for example, NatWest offers 24 months free before switching to a standard tariff.
- Transaction fees can impact high-volume businesses. Tide charges per transfer after the free allowance, while Starling and Mettle include unlimited free UK payments.
- Foreign exchange and international transfer fees are critical for international trading. Providers like Revolut and Airwallex offer competitive FX rates and lower SWIFT fees than most traditional banks.
- Post-promo rate changes kick in when introductory “free” periods end. Barclays and Lloyds switch to monthly tariffs after 12 months, while Virgin Money remains free for businesses under £1m turnover.
Typical UK Business Account Fees
| Provider | Monthly Fee | UK Transaction Fee | International Fee | Learn More |
|---|---|---|---|---|
| Revolut Business Basic Account | From £10 | 10 free per month then 20p each | £5 per transfer + SWIFT transfer fees | Visit Revolut |
| Tide Free Business Account | £0 | 20p per transfer | 1.50% FX + 20p per transfer | Visit Tide |
| Starling Bank Business Account | £0 | Free UK payments; | No fees for SEPA; SWIFT varies | Visit Starling |
| ANNA Money Pay As You Go Business Account | £0 | Free outgoing payments, 0.95% fee for incoming payments | 1% currency conversion | Visit ANNA Money |
| HSBC Small Business Bank Account | £0 | Free digital transactions | Varies on destination | Visit HSBC |
| Zempler Bank Business Go Account | £0 | First 3 transfers free, then 35p each | FX fees vary | Visit Zempler Bank |
| Monzo Business Lite Account | £0 | Free | 2.75% foreign currency transactions | Visit Monzo |
| Mettle Business Account | £0 | £0 | Not supported (no international payments) | Visit Mettle |
| Allica Bank Business Rewards Account | £0 | Free | Wise transfer fee & exchange rate. No Allica Bank fees. | Visit Allica Bank |
| Airwallex Business Explore Account | £0 / £19 | Most domestic transfers are free | FX 0.5–1% + £10–£20 SWIFT fee | Visit Airwallex |
| Co-operative Bank Business Directplus Account | £0 for the first 30 months if £1k balance is maintained, otherwise £7 | Co-operative Bank Business DirectPlus Account | Varies | Visit Co-operative Bank |
| Barclays Business Account | Free intro (12 months), then £8.50 | Free | Varies | Visit Barclays |
| Virgin Money M Account for Businesses | £0 | Free | 2.75% foreign currency transactions | Visit Virgin Money |
| Lloyds Bank Business Account | Free intro (12 months), then £8.50 | 100 free per month then 20p each | Varies | Visit Lloyds Bank |
| NatWest Business Bank Account | Free | Free during intro period, then 35p each | 2.75% FX fee + payment method fee | Visit NatWest |
- High transaction volumes – Frequent UK payments? Digital-first accounts like Starling or Mettle can significantly reduce costs.
- Cash-heavy businesses – Branch access is key for deposits. Banks like Lloyds, HSBC, and Barclays offer branch services, but fees vary.
- International traders – FX margins and SWIFT fees matter. Revolut and Airwallex provide more competitive rates than most high-street banks.
- Promotional periods – Introductory offers can be attractive, but always factor in post-promo charges. For example, NatWest’s 24-month free period is generous, but standard tariffs apply afterwards.
You can choose a business account that balances functionality, security, and cost-effectiveness by matching fee structures to your transaction patterns and priorities, whether low costs, FSCS protection, or UK business accounts for international transfers.
How to Choose the Best Business Bank Account for Your UK Business
Selecting the best free UK business bank account isn’t just about monthly fees; the right choice can affect cash flow, operational efficiency, and client trust. Whether you’re exploring business accounts for sole traders or UK business accounts for international transfers, these key factors will help you make an informed decision.
- Seamless Accounting Integration
Linking your bank account directly with accounting platforms saves hours of manual work. Providers like Starling and Tide offer robust integrations and APIs for automatic transaction syncing, while NatWest includes a FreeAgent subscription at no extra cost. ANNA’s Virtual Accountant automates VAT tracking and reporting for micro-businesses. - Quality and Accessibility of Support
Reliable, fast support is critical if payments fail or fraud occurs. High-street banks such as Lloyds and HSBC offer large call centres and branch networks, while relationship-focused banks like Allica provide one-to-one account management. Fintechs such as Monzo and Revolut deliver instant in-app or chat-based support, which is ideal for digital-first SMEs. - Value-Added Business Tools
Many of the best business bank accounts with FSCS protection now include extras like invoicing, tax calculation, or cash flow forecasting. For example, Barclays’ Eagle Labs programme offers networking and mentoring opportunities, and ANNA automates routine administrative tasks. Bundled accounting software or cashback perks can also improve cost-effectiveness for startups. - Clear, Transparent Fees
Look beyond introductory offers and understand charges for domestic transfers, international payments, deposits, and overdrafts. Virgin Money provides unlimited free UK transfers during its introductory period, while Revolut or Airwallex may charge for certain international transactions. Checking fees against your transaction habits ensures no surprises later. - FSCS Protection and Safeguarding
FSCS protection safeguards up to £85,000 per legal entity, offering peace of mind for most high-street banks and licensed challengers like Zempler. Some fintechs, including Revolut, Airwallex, and ANNA, use safeguarding under e-money regulations, meaning funds are held separately from the provider’s operational accounts. This protects your money if the company becomes insolvent, though it does not compensate FSCS. Both options have trade-offs: FSCS offers guaranteed compensation, while safeguarding allows for faster account opening and multi-currency features.
By weighing these features against your growth plans, transaction volume, and preferred banking style, you can choose a UK business bank account that supports both day-to-day operations and long-term financial goals.
Read more about business accounts tailored to meet popular needs below:
- Bank accounts for start-ups
- Bank accounts for sole traders
- Free business bank accounts
- International business bank accounts
- Business bank accounts with overdrafts
- Business bank accounts with no credit check
- Quickest business bank accounts to open
- Joint business bank accounts
- App-based business bank accounts
- Bank accounts for charities
- Bank accounts for e-commerce businesses
Read more about: How to open a business bank account
Next Steps: Open the Best Business Bank Account for Your UK Business
The right account can cut costs, simplify bookkeeping, and give your business more room to grow, so don’t delay this decision. Whether you need the best free UK business bank account, a specialist business account for sole traders, or a UK business account for international transfers, the fastest way forward is to match the right provider to your exact needs.
Here’s how to act now:
- Shortlist your top 2–3 providers from our guide, for example:
- Starling – Free UK payments with complete Financial Services Compensation Scheme (FSCS) protection.
- NatWest – One of the UK’s longest fee-free periods at 24 months.
- Revolut – Competitive FX rates and multi-currency accounts for global payments.
- Compare them side-by-side on monthly fees, transaction costs, and must-have extras, especially if business bank accounts with FSCS protection or advanced app features are priorities.
- Apply online today for the quickest setup. Many digital-first banks approve accounts the same day. If you prefer face-to-face guidance, visit your chosen provider’s branch.
💡 Tip: Before applying, read our full reviews of each account in this guide for detailed pros, cons, features, and pricing to make a confident, informed choice.
Why Trust Business Expert?
At Business Expert, we’re committed to empowering business owners with reliable information to make confident, well-informed decisions about their financial and operational needs. Our team combines decades of experience across finance, business management, and consulting to deliver insights you can count on.
Here’s what sets us apart:
Transparent and Trustworthy: Business Expert’s recommendations are provided with transparency and independence, enabling you to make the right choice for your business without hidden agendas.
Independent Insights: Our content is researched by knowledgeable professionals who prioritise objectivity, providing balanced, impartial information tailored to today’s business market.
Thoroughly Vetted Information: We conduct careful fact-checking and analysis, ensuring our reviews, guides, and comparisons are accurate, up-to-date, and relevant for businesses of all sizes.
Focused on Practical Solutions: From bank accounts to business tools, our resources are designed to simplify complex decisions, helping you find the best options for your unique business needs.
Disclosure:
This review reflects our assessment of the associated banking products and is intended for informational purposes.
It is not financial advice, a recommendation, or an endorsement suited to your specific financial situation.
If you’re uncertain about the best steps for your business, please consult a qualified financial advisor.
Business Bank Account FAQs
How do fintech business accounts differ from traditional banks?
Fintech business accounts such as Starling, Monzo, and Tide focus on rapid sign-ups, modern apps, and low or no monthly fees. In contrast, traditional providers like Lloyds or HSBC offer branch access, long-standing lending histories, and more in-person support, often better suited to cash-heavy businesses or those wanting face-to-face advice.
What is FSCS protection, and do all business bank accounts have it?
Protected up to £85,000 under the Financial Services Compensation Scheme (FSCS) means your deposits are covered if the bank fails. Most high-street banks and some licensed challengers (e.g. Zempler, Starling) include FSCS cover. Many fintechs follow safeguarding rules instead, keeping your money in segregated accounts with trusted banks, which protects against misuse but doesn’t provide FSCS-backed compensation if the provider becomes insolvent.
Which is the best free UK business bank account?
Mettle and Starling are strong contenders for the best free UK business bank account, with no monthly fees and free standard UK payments. Tide also waives monthly charges but applies per-transaction fees, which may be costly for high-volume users.
Which are the best UK business accounts for international transfers?
Airwallex and Revolut rank highly among UK business accounts for international transfers thanks to competitive FX rates and multi-currency options. They often beat high-street banks on cost but use safeguarding instead of FSCS protection, a trade-off between savings and deposit security.
Can I deposit cash with a business account for online-only sole traders?
Yes, Starling and Mettle allow cash deposits via the Post Office, though fees apply. A high-street bank such as HSBC, Barclays, or Lloyds may be more convenient if you handle large amounts of cash.
Do any business bank accounts include accounting tools?
Yes, several offer built-in tools or software integrations. Starling has an optional Business Toolkit, Monzo Pro includes invoicing, and Mettle includes FreeAgent for free to automate VAT, expenses, and invoicing.
Is phone support available for business bank accounts?
Yes, traditional banks provide phone lines and branch support. Among fintechs, Starling and Zempler offer both phone and in-app help, while others focus mainly on live chat or email.
Do I need an established business to get a UK business bank account?
No, most providers welcome startups and sole traders. Some, like Allica Bank, prefer businesses with at least 12 months’ trading history and strong financials. Always check eligibility before applying to avoid delays.
