ANNA is a Pay As You Go business account for UK sole traders, LTDs, and LLPs. The PAYG plan has no monthly fee and includes 20 free outgoing transfers per month. Beyond the free allowance, each outgoing transfer costs 20p.
If you photograph receipts and handle your own Self Assessment, you get AI receipt scanning and real-time HMRC tax liability estimates on every plan. We reviewed ANNA’s current pricing and terms directly from anna.money in April 2026.
You only get value from the tax automation if you handle your own Self Assessment without an accountant. ANNA’s tax automation is worth nothing if your accountant uses Sage. No Sage integration on any plan.
ANNA Business Account at a Glance
Our Verdict
Choose ANNA if you’re a sole trader who self-manages your tax and keeps outgoing payment volumes low. The AI receipt scanning and real-time HMRC tax estimate are the most distinctive features in this comparison for that specific buyer profile.
But you’re accepting specific limitations. ANNA is e-money safeguarded, not FSCS-protected. There is no Sage integration and no overdraft on any plan. In practice, the tax tools only earn their keep if you self-manage your Self Assessment.
We’d point you to Tide if your accountant uses Sage, to Starling if FSCS protection matters, and to ANNA if tax automation is your priority and you manage your records yourself.
Best For
Choose ANNA if you are a sole trader or small limited company that handles your own Self Assessment, operates at low to moderate transaction volumes, and wants AI receipt scanning and real-time HMRC tax liability estimates built into your banking app.
Not Ideal For
Skip ANNA if you make more than 20 outgoing transfers per month on PAYG, your accountant uses Sage, you need FSCS protection on larger balances, or you require an overdraft facility on any plan.
Key Facts
PAYG plan: £0/month, 20 free outgoing transfers, then 20p each. ANNA Business: approximately £14.90/month with 50 free transfers. ANNA Big Business: approximately £49.90/month with unlimited transfers. We confirmed approximate pricing from anna.money in April 2026.
You get AI receipt scanning and real-time HMRC tax estimates on all plans. Invoicing on Business and Big Business plans; add-on on PAYG. Company formation in-app. Connects to Xero, QuickBooks, FreeAgent; no Sage. E-money safeguarded, not FSCS-protected (PayrNet Limited, FCA reference 900594).
No overdraft. Open to sole traders, LTDs, LLPs.
ANNA Money Pay As You Go Account
What Is ANNA Business Account and How Does It Work?
How the Account Works
You hold a GBP account, send and receive payments, and use the app to photograph receipts, categorise expenses, and track a running HMRC tax liability estimate — ANNA combines day-to-day banking with built-in tax admin tools as an e-money account.
We confirmed this structure from anna.money in April 2026.
The tax estimate updates in real time as you log receipts and income: the figure is visible in the app throughout the year, not generated at year-end. That is the core product differentiator.
Your funds are safeguarded in segregated accounts, not covered by the statutory FSCS deposit guarantee — the debit card is issued by PayrNet Limited, an FCA-authorised electronic money institution (reference 900594). Confirmed from the FCA register, April 2026.
Who the Account Is Designed For
You are the target user if you are a sole trader or small limited company that handles your own bookkeeping and Self Assessment. The tax tools assume you are your own accountant or a business without a Sage-based practice behind it.
Skip ANNA if your business has high outgoing transfer volumes, you need a Sage bank feed, or FSCS protection on the working balance matters. If any of those apply, Tide, Starling, or Monzo are the more practical starting points.
How to Open an Account
You apply through the ANNA app using photo ID and a selfie for identity verification. Most straightforward applications complete within a few hours to one business day. We confirmed the digital application process from ANNA’s website in April 2026.
If you’re forming a new limited company at the same time, ANNA’s company formation service handles Companies House registration as part of the same onboarding session. One process rather than two separate setups. Confirm current requirements at anna.money before starting.
Account Plans and Pricing
Free and Paid Plans
You pay £0/month on the permanently free PAYG plan. The PAYG plan includes 20 free outgoing transfers per month; transfers beyond that cost 20p each. Invoicing is an add-on on PAYG, not included as standard. We confirmed approximate plan structure from anna.money in April 2026.
| Plan | Monthly Fee | Free Transfers | Key Inclusions |
|---|---|---|---|
| PAYG | £0 | 20 per month | AI receipt scanning, real-time tax estimate, company formation |
| ANNA Business | ~£14.90 | 50 per month | Above + invoicing, expanded limits |
| ANNA Big Business | ~£49.90 | Unlimited | Above + priority support |
Monthly Fees
PAYG: £0/month. ANNA Business: approximately £14.90/month. ANNA Big Business: approximately £49.90/month. We confirmed approximate pricing from anna.money in April 2026. Confirm current costs at anna.money before applying.
Calculate your breakeven: the Business plan becomes cost-neutral against PAYG at roughly 95 outgoing transfers per month (20 free on PAYG at 20p each after that vs 50 free on Business). If you send fewer than 95 transfers a month, the PAYG plan is cheaper before invoicing costs.
Transaction and Transfer Fees
Every outgoing UK bank transfer beyond the monthly free allowance costs 20p. On the PAYG plan, you have 20 free transfers per month. On Business, you have 50. On Big Business, transfers are unlimited. We confirmed the PAYG transfer fee from anna.money in April 2026.
You pay £0 for incoming UK faster payments on all plans. If your transfer volume exceeds the free allowance regularly, the 20p charge accumulates in a way that doesn’t appear on a Starling or Monzo account.
Cash Deposit, ATM and Card Charges
Cash deposits cost 0.95% of the deposit amount on the PAYG plan — the highest cash-handling rate among the four accounts reviewed here. We confirmed this rate from anna.money in April 2026.
You pay an ATM withdrawal fee; confirm the current rate at anna.money. Domestic card purchases do not attract per-transaction fees. Overseas card spending: a currency conversion fee applies; confirm the current rate at anna.money before making international purchases.
| Transaction | Fee (PAYG Plan) |
|---|---|
| Monthly account fee | £0 |
| Incoming UK faster payment | Free |
| Outgoing UK transfer (within allowance) | Free (20 per month) |
| Outgoing UK transfer (beyond allowance) | 20p per transfer |
| Cash deposit | 0.95% of deposit amount |
| ATM withdrawal | Confirm at anna.money |
| Overseas card spending | Confirm at anna.money |
Banking Features
Payments, Transfers and Direct Debits
Your UK bank transfers go through Faster Payments. Outgoing transfers use your monthly free allowance first (20 on PAYG, 50 on Business), then cost 20p each. Incoming transfers are free. We confirmed the transfer model from anna.money in April 2026.
You get no overdraft on any plan. If your balance runs short, there is no credit facility to fall back on. Confirm direct debit and standing order availability at anna.money.
Cards and Expense Cards
You get a Mastercard debit card issued by PayrNet Limited. Domestic card purchases do not attract per-transaction fees. Overseas card spending incurs a currency conversion fee; confirm the current rate at anna.money before relying on the card abroad.
Confirm current limits for card spending, ATM withdrawals, and expense card availability at anna.money before applying if these features are central to your day-to-day operation.
Accounting Integrations and Business Tools
You connect to Xero, QuickBooks, and FreeAgent through Open Banking as live bank feeds. We confirmed the integration list from the Open Banking directory in April 2026. These connections remove the step of downloading a statement and uploading it to your accounting software.
You get no Sage integration on any ANNA plan. If your accountant uses Sage, you’re emailing a CSV export rather than sharing a live feed. That is the practical difference between ANNA and Tide on this point.
You photograph a receipt and ANNA categorises the spend and updates the running tax figure in the same session — the AI receipt scanning and real-time HMRC tax liability estimate is the standout business tool. Available on all plans.
Multi-User Access and Spending Controls
You need to confirm multi-user access and spending control features at anna.money — these were not confirmed in detail from publicly available primary sources in April 2026. Check current team and sub-user capabilities before applying if you need more than one person to manage the account.
Savings, Credit or Other Extra Features
You get no overdraft or credit facility on any plan. No savings pot or interest on balances. ANNA is a transactional e-money account, not a savings or lending product.
You can register a new LTD with Companies House during account opening through the ANNA app, in the same onboarding session, without a separate formation service. Available on all plans.
You get invoicing included on Business and Big Business plans. On PAYG, it’s available as an add-on. Confirm current invoicing add-on pricing at anna.money.
International Features
Sending International Payments
You should treat ANNA as a UK-focused e-money account. International payment capabilities were not confirmed in detail from publicly available primary sources in April 2026.
Confirm current international transfer availability, corridors, and fees at anna.money before relying on this for cross-border payments.
If international payments are a regular part of your business, compare ANNA against a specialist such as Wise or Airwallex before committing. Neither charges for the domestic account while offering stronger international payment infrastructure.
Receiving International Payments
You receive a UK account number and sort code. Whether international clients can pay directly into the account via SWIFT or IBAN was not confirmed from a primary source in April 2026. Confirm at anna.money before instructing overseas clients to pay.
Foreign Exchange Fees and Currency Support
You pay a currency conversion fee on overseas card spending; the exact rate was not independently verified from a primary source at publication. Confirm the current FX rate at anna.money before making international purchases or building any cross-border payment processes on this account.
For businesses with regular FX requirements, compare ANNA’s currency costs against Wise (mid-market rate, 0.33% to 0.57% per conversion, no monthly fee) or Airwallex (interbank +0.5%, 60+ currencies) before committing.
Eligibility and Account Limits
Who Can Apply
You can apply if you’re a sole trader, limited company (LTD), or limited liability partnership (LLP). We confirmed the current eligibility list from ANNA’s website in April 2026. Confirm your eligibility at anna.money if you operate as a standard partnership or other business structure.
You apply through the ANNA app using photo ID and a selfie for identity verification. No branch visit required. If FSCS deposit protection is a requirement for your business, note that ANNA is an e-money institution, not a licensed bank.
Supported Business Types
You can apply if you are a sole trader, limited company (LTD), or limited liability partnership (LLP). ANNA doesn’t list standard partnerships in the same way Tide does. Confirm current accepted structures at anna.money before applying.
As a sole trader, you can access all PAYG plan features including AI receipt scanning, real-time tax estimates, and the full accounting integration suite.
Account Limits and Restrictions
You need to confirm spending limits, transfer ceilings, and payment caps at anna.money — these were not confirmed from publicly available primary sources in April 2026. If you process high-value or high-volume payments, check current limits before the deadline hits.
You get no overdraft on any plan. If you need credit access alongside your business account, source that separately. Starling offers a business overdraft subject to eligibility for businesses where that matters.
App, Online Banking and User Experience
Mobile App Experience
You manage ANNA through a mobile-first account. Core features — receipt scanning, invoicing, the HMRC tax estimate, and card management — are app-native. The receipt scanning and tax tools in particular are designed around the phone camera, not a desktop workflow.
If mobile-first banking with instant notifications and an in-app tax dashboard is your priority, ANNA is purpose-built for that. Confirm current app store ratings and feature availability at anna.money.
Web and Desktop Access
You need to confirm web dashboard availability at anna.money — this was not confirmed in detail from publicly available primary sources in April 2026. Check current web access capability if desktop banking is part of your workflow.
Ease of Day-to-Day Account Management
You manage day-to-day banking through the app: photograph a receipt, categorise the expense, check the running tax estimate. For a sole trader doing their own bookkeeping, the workflow is straightforward.
If your operation involves multiple users, complex payment batches, or regular reconciliation against Sage, ANNA adds overhead rather than removing it. That is the practical limit of the product for larger or more complex setups.
Customer Reviews and Reputation
What Customers Like
You should check ANNA’s current Trustpilot rating directly at trustpilot.com before applying — we couldn’t independently verify the rating at the time of this review. Check the current rating and review volume there.
You can expect positive feedback from ANNA users to focus on the AI receipt scanning, the real-time tax estimate, and the company formation feature during onboarding. These are features no other account in this comparison offers as part of the standard banking product.
Common Complaints
You should know the common friction points across e-money accounts: support response times and identity verification holds during account checks. If your account is paused when you need to pay a supplier at month-end, that is a missed payment, not an abstract risk.
You need to check recent reviews at trustpilot.com and the App Store before deciding. Pay particular attention to reviews from sole traders and small LTDs, as these are the primary user group the product is designed for.
Customer Support and Service
Support Channels and Availability
You get in-app support only. Confirm current channel availability, operating hours, and response times at anna.money before relying on ANNA for time-sensitive business payments.
If your business runs time-sensitive payments or you need phone support as a backstop, confirm what is available on your plan before switching. Support depth is a meaningful difference between e-money accounts at this price point.
Help Centre and Self-Service Resources
You can self-serve through ANNA’s help centre and in-app guidance for common tasks. For straightforward sole trader use cases — receipt logging, invoicing, tax estimates — the self-service resources are designed to cover the primary workflow without needing direct support.
Confirm current help centre coverage at anna.money if you have a specific operational question before opening. The quality of self-service documentation varies between e-money providers and can change over time.
Security, Regulation and FSCS Protection
Regulation and Authorisation
Your ANNA debit card is issued by PayrNet Limited, an electronic money institution authorised by the FCA (reference 900594). We confirmed this from the FCA register in April 2026. Verify current authorisation at the FCA register before relying on this.
You need to understand the regulatory class: PayrNet Limited operates as an e-money institution, not a fully licensed bank like Starling and Monzo. The practical consequence: your funds are not covered by the statutory FSCS deposit guarantee.
FSCS Protection or Safeguarding
You get no FSCS protection. Your funds are e-money safeguarded: held in segregated accounts separate from ANNA’s own money, under FCA e-money safeguarding regulations. This is contractual protection, not the statutory £120,000 FSCS deposit guarantee. They are not equivalent.
You need to weigh this if you hold significant working capital. Safeguarding provides contractual protection through fund segregation; FSCS provides a statutory government-backed guarantee up to £120,000 if a licensed bank fails.
If FSCS protection is a requirement for your business, Starling holds a full UK banking licence and provides FSCS deposit protection up to £120,000. Verify current safeguarding arrangements at anna.money and the FCA register before opening if you hold significant working capital.
Security Features
Your funds are safeguarded under FCA e-money institution rules via PayrNet Limited, not FSCS-protected. Specific in-app security features — two-factor authentication, card freezing, transaction alerts — were not confirmed in detail from publicly available primary sources in April 2026.
Verify current security features at anna.money.
Pros and Cons
Pros
- AI receipt scanning with automatic expense categorisation on all plans
- Real-time HMRC tax liability estimate visible in-app as you earn
- VAT and Self Assessment tax preparation built into the app
- Company formation through the app: Companies House registration during account opening
- Built-in invoicing on ANNA Business and Big Business plans
- Open to sole traders, LTDs, and LLPs
- Free PAYG plan with no monthly fee
Cons
- PAYG plan: 20 free outgoing transfers per month, then 20p each. Accumulates at moderate volumes.
- E-money safeguarded through PayrNet Limited, not FSCS-protected
- No Sage integration on any plan
- No overdraft on any plan
- Invoicing not included on PAYG. Available as an add-on or on Business and Big Business plans.
- Cash deposit fee of 0.95% on PAYG: highest among the four accounts reviewed here
Who ANNA Business Account Is Best For
Best Use Cases
ANNA suits you if you invoice occasionally, handle your own tax records, and want an account that doubles as a light tax-admin tool. Photograph a receipt and ANNA categorises the spend and updates your running tax estimate. That matters if you handle your own Self Assessment.
Picture the use case: sole trader or small LTD director. You photograph receipts as you go, check a live HMRC estimate mid-year, and raise invoices from the same app. Fewer than 20 transfers a month, no Sage needed. ANNA covers that workflow without a monthly fee.
If you need to register an LTD, ANNA lets you complete Companies House registration and open the account in the same session, with AI tax tools active from day one.
When to Consider Alternatives
Consider Tide if your accountant uses Sage or if you need built-in invoicing on the free plan. Tide has a direct Sage bank feed and invoicing included at no extra cost on the free account.
Consider Starling if FSCS deposit protection matters for your working capital balance. Starling holds a full UK banking licence, offers free domestic transfers, and covers deposits up to £120,000 under FSCS. No AI tax tools, but the protection level is categorically different.
Consider Monzo if you want free domestic transfers and FSCS protection without paying for tax automation you won’t use. Free plan, no per-transfer fees, FSCS-protected up to £120,000.
ANNA Business Account vs Alternatives
ANNA vs Tide
Tide and ANNA share a similar pricing structure on their free plans: both are e-money safeguarded, both charge 20p per outgoing UK transfer beyond the free allowance. The difference is what you get in the account.
Choose Tide if your accountant uses Sage: Tide includes a direct Sage bank feed and connections to Xero, QuickBooks, and FreeAgent on its free plan. Choose ANNA if you self-manage your tax: AI receipt scanning and a real-time HMRC estimate are included from the PAYG tier.
ANNA vs Starling
Starling holds a full UK banking licence and offers free domestic transfers with FSCS deposit protection up to £120,000. An overdraft is available subject to eligibility. ANNA offers neither FSCS protection nor an overdraft on any plan.
If FSCS protection or free unlimited transfers are your priority, Starling is the stronger account: it holds a full UK banking licence with no per-transfer fees. If the AI tax tools matter more than protection level, ANNA is the fit — Starling offers none of that automation.
ANNA vs Monzo
Monzo Business offers a free account with no domestic transfer fees and FSCS deposit protection up to £120,000. Monzo Pro at £5/month adds invoicing and more accounting integrations. Monzo doesn’t offer AI tax automation or company formation.
It’s limited to sole traders and limited companies; LLPs aren’t eligible.
If free transfers and FSCS protection are your priorities and you don’t need tax automation, Monzo covers both without a monthly fee. If the tax tools are the deciding factor, ANNA is the only account in this comparison that includes them.
We have a full comparison across all options in our best business bank accounts guide.
Final Verdict: Is ANNA Business Account Worth It?
ANNA is worth it if you’re a sole trader handling your own Self Assessment, keeping your outgoing transfer volume below 20 per month on PAYG, and wanting a running HMRC tax estimate in your banking app. No other account in this comparison delivers that.
Three gaps should stop you opening ANNA. If your accountant uses Sage, there is no integration on any plan. If FSCS protection matters for your balance, ANNA cannot provide it.
If you send more than 20 transfers a month on PAYG, the 20p-per-transfer charge accumulates faster than “free banking” suggests.
Your decision reduces to one question: do the AI tax tools earn their keep for your workflow? For a self-managing sole trader, they can. For everyone else, Tide, Starling, or Monzo will serve you better on the dimensions that matter.
Frequently Asked Questions
Is ANNA FSCS-protected?
No. ANNA isn’t FSCS-protected. The ANNA debit card is issued by PayrNet Limited (FCA reference 900594), an authorised electronic money institution. Your funds are safeguarded (held in segregated accounts separate from ANNA’s own money), but this isn’t the same as FSCS deposit insurance. FSCS protection provides a statutory £120,000 guarantee if a licensed bank fails. E-money safeguarding provides contractual protection through segregation, without that guarantee. We confirmed ANNA’s regulatory status from the FCA register in April 2026. If FSCS protection matters for your business, Starling holds a full UK banking licence.
Does ANNA offer a business overdraft?
No. ANNA doesn’t offer an overdraft facility on any plan. If you need a credit buffer from your main business account, Starling offers a business overdraft subject to eligibility and credit assessment. Confirm current lending products at anna.money before making a decision based on credit access.
What accounting software does ANNA connect to?
ANNA connects to Xero, QuickBooks, and FreeAgent through Open Banking as live bank feeds. We confirmed the integration list from the Open Banking directory in April 2026. ANNA doesn’t connect to Sage on any plan. If your accountant uses Sage, Tide is the only account in this comparison with a live Sage bank feed. Starling, Monzo, and ANNA share the same Sage gap.
Is ANNA a real bank?
No. ANNA isn’t a licensed bank. The debit card is issued by PayrNet Limited (FCA reference 900594), an electronic money institution authorised by the Financial Conduct Authority. Your funds are held in segregated accounts rather than covered by FSCS deposit protection. This means your balance is protected through the safeguarding arrangement rather than the statutory £120,000 FSCS guarantee. We confirmed ANNA’s regulatory status from the FCA register in April 2026.
How long does it take to open an ANNA account?
Most straightforward applications complete within a few hours to one business day. You apply through the ANNA app using photo ID and a selfie for identity verification. If you’re forming a new limited company at the same time, ANNA’s company formation service processes the Companies House registration as part of the same session. We confirmed the digital application process from ANNA’s website in April 2026. Complex cases involving additional checks may take longer.
Can sole traders open an ANNA account?
Yes. Sole traders are one of the core eligible business types. LTDs and LLPs are also eligible. We confirmed the current eligibility list from ANNA’s website in April 2026. As a sole trader, you can access all PAYG plan features including AI receipt scanning, real-time tax estimates, and the full accounting integration suite. Confirm your eligibility at anna.money if you’re a partnership rather than a sole trader or LTD.
How we reviewed ANNA
What we assessed. We evaluated ANNA on pricing, contract terms, features, and eligibility. These are the factors that matter most to UK small businesses considering this provider.
Data sources. ANNA’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 at least monthly, and whenever a provider changes pricing, eligibility, or terms. The verification date on the page reflects the most recent full review. Some links on this page are affiliate links, see our editorial policy.